I’ve seen it time and time again. A buyer wants to purchase a property, whether it be for themselves to live in, or as an investment property to generate rental income.
They view the property, really like it, but they hesitate and don’t put in an offer. Instead, they spend the next few days mulling it over, reading over the condo docs, looking at comparables, etc. They have their agent call the listing agent, ask him a million questions, and essentially spend a lot of time analyzing the deal, but by the time they think about writing an offer, well, it’s too damn late because there is already an accepted offer on the property!
This happens all the time in hot markets such as Vancouver right now, but it also happens frequently in slow markets like Calgary and Edmonton, especially on OPP and well priced properties!
It’s called analysis paralysis. Overthinking the deal, until there is no deal to overthink. Just write the damn offer, already! Then do your due diligence and inspect the place, review the documents, run the comps, and all that other important stuff. Of course you won’t always get an accepted offer with conditions, but it can’t hurt to try!
The most successful real estate buyers/ investors are those that write offers all the time…so don’t be afraid to put pen to paper and just write, and watch your real estate portfolio grow!
Contact us here to find out how we can help you get over analysis paralysis.
Oct 21, 2017