We give you 5 strategies to help you win and increase your chance of succeeding in your real estate purchase. Chances are If you're watching this video, you have written an offer, or considered writing an offer on a property. You may have lost out on a few homes, or scared of losing your dream home, but let us give you the confidence to go and get that dream home you've always wanted.
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The Germyn Group consists of Darin Germyn, Personal Real Estate Corporation, and Adam Howsam. Two realtors located in the Fraser Valley looking to help our clients get it right, the first time, when buying or selling real estate. Darin has been in the real estate industry since 2007, and has had the luxury of helping over 500+ families in real estate. Darin was the former President of the Fraser Valley Real Estate Board in 2019, and top 1% in the FVREB for volume.
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There is no doubt that buying a home in Surrey in 2021 has been incredibly frustrating. Whether you're looking to buy a condominium, a townhome, or a detached home, it has never been more challenging to be a home buyer. The problem is, every time you discover a property, you know there are swarms of other home buyers in the area, just itching to get into that property, make an offer and be the winner. This means every time you find a property you like, there's a great chance that you're going into a multiple offer on it.
So the question is, what can you do when going into a multiple offer to win? And is there ways to do it without giving the seller every single dollar that you have in your bank account?
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So buying a home right now in Surrey, BC almost guarantees that you're going to be going into a multiple offer situation. For those of you that are watching that don't know what a multiple offer situation is. It means that you are not the only buyer that is looking to purchase a property. When you decide you'd like to write an offer on that property, you're now competing against these other would be home buyers. And the problem is you don’t know what cards they're holding.
Think of it kind of like a poker game. Everyone's sitting around that table trying to beat each other, but we really don't know what's going on or what cards they’re holding behind the scenes. What are they prepared to do? What are they prepared to pay? And what are they prepared to sacrifice just to win that home? That's the challenge of a multiple offer scenario.
So the good news is I'm here to help you today with a few of our favorite strategies on how to help you be successful in multiple offers in ways that you might not have considered before. These are all battle tested strategies that we use frequently to help our buyers win, especially when the market is busy. Like it is right now. Many of these when combined can help buyers secure the home of their dreams, and often-times they don't always even have to be the highest bid. We've also produced a guide called The Ultimate Multiple Offer Chance Enhancer, which we're going to talk about a little bit later on in this video. But for now, here are some of our favorite tips on how to win in a multiple offer situation.
#1 Have your deposit available and have a photocopy of it ready to send to the seller. A seller is sitting down looking at all different types of offers from all different types of people and ready to make a decision that's best for them by attaching a simple photocopy of the deposit for your offer. This actually shows the seller that you are financially ready and available to buy their home.
Funny enough, this little strategy has helped many of our buyers be successful in multiple offers because guess what? Most people don't do this.
#2 is also one of our favorites and oftentimes gets overlooked, and this strategy is making your condition removal or due diligence period be finished as soon as possible. Now guess why this works. You might be surprised, but sellers do not want to wait around for you. They want to get on with their life. They want to move on and they want to make their lives as easy as possible. So anything you can do to help them with that to help them move on is going to be in your favor. The quicker a seller might know that their home is sold really results in less stress and less unknown. So by shaving your days down to do your due diligence is really going to improve the visibility and the attractiveness of your offer to the seller. Find out from your lender what is the absolute quickest they could give you an approval for your mortgage, have your home inspection pre-booked and actually provide that information to the seller. They're going to know you're serious about this. This will also prove to them that you are prepared to move fast and make their lives easier.
The 3rd strategy is having a well written mortgage approval letter attached to your offer from your lender. Ask your lender to put their money where their mouth is by providing you with a written mortgage approval where you can provide that to the seller and show them that yes, you are pre-approved for the amount of a mortgage that you need on this home. You see, most homebuyers aren't going to do this and they're not prepared to. And what this shows to the seller is that you are serious and you have done the due diligence to put yourself in a position to buy this home. Any assurances you can provide to the seller by doing things like this makes your offer much more attractive because now it's got one less reason, really why it's not going to work out. Mortgages and home inspections are probably the #1 & 2 reasons why most offers fail. So giving the seller a level of assurance with this is a must have. Ask your lender to write this on company letterhead provided, Typed up and signed for you to present with your offer. This ties into the next one on our list, which is actually satisfying your due diligence in advance. Very often due diligence or satisfying the conditions you might have on your offer can be done in advance. This includes things like doing the home inspection before offer presentation, checking all the documentation and title with the city before you write your offer, and even having very in-depth conversations with your financier about what you might be able to do and whether you need to actually have a condition that's subject to financing on your mortgage. Doing all this in advance can give you a major leg up on other would be home buyers.
The 5th and final strategy is one of my favorites and certainly is close to my heart, and what that is is providing a handwritten, handwritten being the key, but a handwritten letter to the sellers letting them know about you. You see people want to sell the people. If you lived in a house for the last 20 years, you want to know the people that are buying it are going to love it and take care of it. And you probably wanted to go to some really great people. Help yourself stand out from the other buyers by not only handwriting the seller a letter, letting them know the reasons why you love their home, that you want to live there and wishing them luck in the future, but also attach a photo of yourself and maybe your family. This makes you human. People like to sell to people. so help the seller learn a little bit about you and know who you are, and adding the photo will create an emotional connection with the seller as well.
So there you have it. We have just given you 5 of our strategies that we use to help our buyers win when we help them professionally buy real estate. Now, earlier in the video, I had mentioned the Ultimate Multiple Offer Chance Enhancer document and I want to let you know how you can get your hands on one. This is a document that we have created with over 15 strategies that buyers can use to be successful in multiple offers, including a description of each strategy and also their impact level of how they will affect the seller's choice. Also, we've left probably our favorite and most impactful strategy on this document for you to get to grab a copy of the Ultimate Multiple Offer Chance Enhancer. Be sure to check out the description below for a link. Just follow the prompts and we'll be sure to send that to you right away so you can start using it today to be successful in your real estate endeavors and while
you're on our website, be sure to pick up one of our free PDFs whether it's maximizing your home's value by up to 5% in only a weekend or 4 secret strategies to find off market properties and how to avoid the MLS.
At the Germyn Group. We know you've only got one chance to either buy or sell your next home, so we're here to help you get it right. Be sure to subscribe to this video and we'll look forward to seeing you next time.