A few things you can do to try to lessen the stress of buying when you’re not the only one who thinks they’ve found their dream home.
Competing offers are the buyer’s bane in a market where demand far outstrips supply. The Lower Mainland has had more than its fair share of bidding wars as emotions run high and home-hungry buyers get caught up in the thrill of the hunt. As they say, it’s a jungle out there.
“Maybe your best friend lives across the street or you grew up in this neighbourhood or this is your absolute dream home and you’re going to live there for the next 35 years,” she says. “Then the value to you as a buyer could be a little bit higher than what my range of market value is. It’s the balance between those two things. As long as the buyer is educated regarding both values, then they make the ultimate decision about the price.
David Fairbairn, of Fairbairn Home Inspectors, recommends a pre-purchase inspection. “It’s a great deal. It’s cheap insurance. You spend $500 and you could save thousands. We’re seeing the inspections pre-purchase are going by the wayside right now and it’s very unfortunate.
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