How to Stack an Offer to Purchase When Buying Regina Real Estate

The spring summer Regina real estate market has been interesting, to say the least. With sales down 50% due to Covid-19 during the month of April, May & June have been relatively strong months with all things considered. 


There are a ton of multiple offers happening for Regina real estate, houses are once again selling over asking price. There’s no telling which property will receive multiples; it depends on how much demand there is for a certain kind of home in a certain neighborhood. As a Regina Realtor®, I can tell you that it’s no longer a market that is completely in favour of buyers. 

How can you better ensure your offer is the offer that is accepted? Its not a perfect science but this article will explain a few ways that you can stack your offer to make it more attractive. 

  1. Deposit - Offering a larger deposit says to the seller says to them that you have your down payment funds in order. A normal deposit on a $300,000 property is about $5,000. If you were writing on a $400,000 dollar property you could write a $10,000 deposit. 
     
  2. Possession - Have your Realtor® call the sellers Realtor and find out what an ideal possession date for the sellers is. If you can offer the sellers the possession date they need or prefer, it will definitely make your offer more attractive. Cooperating with the sellers will make it more likely that accept your offer because they know they have a possession date that absolutely works for them.
     
  3. Terms & Conditions - Don’t write any wonky terms or conditions into your offer. Don’t write a subject to the sale of other property condition, don’t ask for the sellers to leave their king size bed or insulate the garage for you. If you want the home, you have to be prepared to make a clean, attractive offer. 
     
  4. Price - I hate to preach this especially when Regina real estate has been in such a buyer’s market for the last few years but price is important. The reason the property is receiving multiple offers is because its priced within market value to begin with, so the deal here is not getting the home for under asking, the deal is simply getting the home. Have your Realtor® do a market analysis to tell you exactly what the maximin market value of the home is and make a decision from there. 
     
  5. Include something personal - Write a letter to the sellers telling them what your plans are for the home, include a personal photo or maybe include your pre-approval letter. The point here is to add some personality to the offer to purchase by personalizing it. 

These above ideas are not 100% guaranteed to have your offer accepted, but I can tell you from writing hundred’s of offers and getting many of them accepted these concepts do work and improve the likelihood that your offer will be accepted over others. In 2020, the Regina real estate market is competitive and requires more than average effort from both the Realtor® and the clients. 

 

Contact Me

If you are looking at Regina real estate this summer and are considering buying a home, give me a call at 306-552-7047 or fill out my online contact form to discuss the process!

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