With the cottage spring market upon us, these tips outline strategies for buying real estate in a competitive Seller’s market and are crucial if you’re wanting to buy your cottage within the next few months. Please do take the time to read it so you will be more prepared as to what to expect.
1) If you will be requiring financing to buy your cottage, ask your bank for a FINAL letter of approval outlining the maximum amount being extended with an expiry date and be ready to attach it to an offer where you will be competing with those offers that don’t have any conditions. No conditions on offers will be the norm.
2) Consider increasing your budget to allow for bidding room.
3) When you see a listing of interest, contact your Muskoka Realtor at firstname.lastname@example.org as soon as possible to get more information and to book your showing. Booking a weekday showing instead of waiting until the week-end will give you more opportunities. Last minute showing requests may not be able to be accommodated as all appointments may be allocated.
The prices are continuing to climb through competitive bidding and we do not foresee any price corrections as the high demand for waterfront real estate continues indefinitely. Hopefully these strategies will encourage you to jump into the market sooner rather than waiting it out.
I work with both Buyers and Sellers of Waterfront real estate. Please call or text me at 705-571-0700 anytime.