Why Buyers Must Get Smart as the Market Heats Up

Don’t Be Afraid to Negotiate

Sellers are equally eager to make a deal. By asking questions about why the property is on the market, you can uncover their motivations, giving you leverage in negotiations. Understanding the market value of the property is vital—without this knowledge, you won’t know if you’re overpaying or striking a fair deal.

Seeking concessions can also help finalize your purchase. You might request the seller cover your legal fees or accommodate specific settlement timelines. Addressing repairs or negotiating discounts for necessary fixes is another reasonable approach.

Importance of a Good Agent

Selecting a knowledgeable agent is key to a successful purchase. While you ultimately decide, a great agent will have deep market insights, helping you explore all options and leverage your position effectively.

Every market has unique dynamics, and the balance of buyers to available homes will influence your negotiation strategy. Your agent should adapt your approach based on local conditions.

Falling in Love

While it’s wonderful to fall in love with a property, keep your financial goals in check. A great agent will share your enthusiasm but ensure you don’t overpay.

Be Ready to Strike

With the market warming up due to the Bank of Canada's rate cut, be prepared to act quickly when you find your dream home. Organize your finances to understand your budget and position yourself to make an early offer.