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EDMONTON HOUSE HUNTING

 EDMONTON'S ADVANCED MARKETING REALTORS®

 

Edmonton Real Estate Blog, Market Information & Well-Balanced Advise

Dealing With Multiple Offers on Your Edmonton Property

Multiple offers on your Edmonton home with Canadian money You may think that having to deal with multiple offers on your home is a wonderful problem. After all, there are so many buyers clamouring to purchase your Edmonton property!
The challenge, however, is picking the best offer – and that isn't always the one with the highest price. Most offers come with conditions, such as "conditional on securing  financing",  "conditional on the sale of our current property" (not a very good one) and others.
You have to consider both the price and the conditions when choosing which offer to accept. There are other considerations, too. What if someone makes a great offer on your home, but they don't have a pre-approved mortgage and they haven’t put their current home on the market? YIKES! Not good! That kind of offer is risky because it is more likely than an unconditional offer to fall through. So there's a lot to think about when you're in the seemingly enviable position of dealing with multiple offers. How do you select the right one? The answer is to have good experienced REALTOR® team (like Audrey Abuan and Mike Muranetz) by your side to help you make the right decision for you & your family!
Want more tips on how to get multiple offers for your home? Call Audrey and Mike today & they will show you how to make it happen on your home, even in today's market!

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Don't Overprice Your Edmonton Home!

Usually, four common strategies are used to price a home. Understanding these techniques can help you get a better deal on your home, while matching your needs.


Over priced Edmonton home for sale sign image

1. Greatly overpriced

Every seller wants to get the best price for their home. In a hot seller's market you need to careful with multiple offers, the battle may be won by inflating the price, anywhere from 5-10% of its true market value. Determine a fair offering price range with your Edmonton REALTORs® (us please) before getting into a bidding war with multiple offers.  Too high a price could leave the home on the market for months (not good). The home could be great, just offered at the wrong price. If it does not sell, it could be considered a problem. The price may have to be reduced to sell it and typically you get less for the home in comparison to pricing it correctly from the start.


2. Somewhat overpriced

Homes in this category also tend to sit longer on the market. The reasons: there may be room for negotiation in the price, or the seller is emotionally attached to the home (not good). Once it's on the market, sellers need to let go that attachment.

Edmonton Seller wanting more money & buyer offering less money image

3. Priced at fair market value

These homes tend to sell within a reasonable time usually within the average Days on Market (DOM), at close to the asking price. Competitively priced, their price represents a thorough analysis of other neighbourhood homes on the market.

4. Priced below fair market value

For various reasons (including health, relocation, condition of the home, divorce, etc), a seller may want to sell a home quickly. This type of sale often results in multiple buyers, with the home being sold quickly. The stress is over quicker BUT you may not the best price for your home. Every Real Estate sale is different and you may have your reasons.


We can provide you with a thorough analysis of any home you are considering to sell. This price will be based on market conditions (time of year), similar homes in the neighbourhood and condition of the home. At the same time, as your REALTOR® team,  we'll work with you to find a new home which meets your needs in a fantastic neighbourhood. Call either Audrey 780-910-5179 or Mike 780-242-5229 or go to our contact page.

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Preparing Your Edmonton Home for Winter Showings

There is no doubt about it! Even if the weather is relatively pleasant, your Edmonton home won’t show as well in the winter as it would in the summer, especially from the outside. Fortunately, there are many ways to make your home look more attractive and appealing to buyers during the winter season.


First, before showing your Edmonton home to a potential buyer,Clearing snow for all walkways on your Edmonton home to prepare for winter showings clear your front walkway including walkway to the garage if applicable. Make sure fence doors and gates open freely. Also, clear snow off the backyard deck or patio area. You want those picky buyers to be able to explore around your property without any obstructions. In short, do everything you can to make the experience of walking up to your front door and around your property as pleasant as possible.


Second, clear away any boots, shoes and other outerwear from the front foyer as you walk in. You want buyers to focus on your beautiful home, not a cluttered entranceway. Also, have mats on both the outside and inside of your main entranceway. This will give buyers – as well as you and your family – a chance to wipe their boots and shoes.


Adjust your thermostat to be comfortable for your Edmonton winter showings imageThird, adjust your thermostat. You want your home to feel warm, cozy and comfortable for potential buyers.If you have a gas fireplace, turn it on for that cozy feeling. Remember, being warm is a pleasant experience and that's what we are looking for.


Finally, in the winter, homes show much better during the day. In the evening, it may be too dark to fully  appreciate your property especially yard. Working with us as your REALTORS® to schedule viewings during the day whenever possible. If you can, have pictures of your property available that showcase what it looks like in the spring/summer. A flower garden in bloom or that fully grown in hedge really gives the buyers a better idea of how your home looks in non-winter months. That takes planning. So if you're even just casually thinking of the possibility of selling your home, take some good "spring/summer" pictures. Just don't have a date time stamped on the picture.


Hope you got something from this short blog post. Want more advice on how to sell your home in the winter? You can get a hold of us thru our contact page. Thanks!

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