Maybe you’ve seen the “Coming Soon” sign in the ground for weeks, or a home in your ideal neighbourhood finally came on the market, or you’ve browsed the photos online and are nearly convinced you’ve finally found “the one”. What do you do now? Of course, you’ll need to call your realtor and book a showing, but in this crazy market, you may need to be a step ahead to be successful in your home search.
With the immense competition in the Niagara market these days, it’s rare that you are the only prospective buyer excited about the property. You’ll likely have competition from others, even more so if an offer presentation is scheduled on the property. However, with a competitive market, and depending on the sellers, you should also be wary of bully offers. If the homeowner did not sign a Form 244, it means that any buyer who wants to present an offer prior to the offer presentation can do so, possibly resulting in a premature sale. Whether or not the seller took the steps to sign the form and commit to the offer presentation day is something your agent will have access to.
What should you do if the homeowner did not sign a 244 and you have a showing scheduled?
Register an offer prior to showing. By pre-registering an offer and submitting a form 801, it shows your intention to put an offer on the listed property. Through communicating to the sellers that you have a strong interest in the property, they may hold off accepting any incoming bully offers that could otherwise beat you to the punch. There is nothing more disappointing than finding out the the home you are viewing has just accepted an offer, without you even being able to throw your hat into the ring. This form will communicate your interest and give you that extra fighting chance to make your competitive bid for your dream home!