How to win a multiple offer- use a secret weapon; a covering letter!

If you’re trying to purchase a one bedroom condo in the current Vancouver housing market, then you’re likely starting to feel a little bit frustrated. Whether you’re buying a property for rental property investment purposes, or to live in, one bedroom condos are pretty much the only affordable option left for homebuyers out there, and consequently 5-10 multiple offers per listing is not uncommon for a well priced property.

Other than writing an unconditional offer $50k over and above asking price, what can you do to set yourself apart in this hot Vancouver housing market?

Try the time tested secret weapon; a well written covering letter! Yes, it actually works! Try to create a personal connection with the seller, appealing to his or her needs. First and foremost, ask the agent lot’s of questions about their client, or even try to meet the seller for yourself in person. In your letter, be sure to note the personal touches that they may have made to the place, and try to create an emotional connection so that you’re not just a name on a piece of paper. This must be sincere, though, as anything phoney will come off looking that way and work against you.

Even if you don’t have the highest price with the shortest closing window, a well written covering letter may just win you that multiple offer deal in this hot Vancouver real estate market (or any hot real estate market for that matter) at the end of the day!

Looking for some real estate advice? Contact us here!

Chris Stepchuk

Dec 16, 2017



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