Navigation
  • Home
  • About
  • Properties
    • Advanced Search
    • All Properties
    • For Sale
    • For Rent
    • Open house
    • Property Type
      • Apartment
      • Condo
      • Detached
      • Single Family Home
      • Semi-Detached 2-Storey
      • Townhouse
  • Pre-Construction
    • 8 WELLESLEY
    • 625 Sheppard Ave
    • Burke Condos
    • Brightwater Condos
    • 8188 Yonge Condos
    • Galleria 3 Condos
    • MRKT
    • Boss Towns
    • Reina
    • Bartley Towns
    • Amsterdam Urban Towns
    • Festival Condos
    • Empire Quay House
    • Artform
    • Westerly
    • JAC Condos
    • 199 CHURCH CONDOS
    • 31 Parliament Condos
    • 88 Queen
    • 1 Yonge Condos
    • Notting Hill Condominiums
    • 55 Mercer Condos
  • MLS Seach
  • Sold
  • Blog
  • Contact

What to do with a bully offer?

Posted in Real Estate Tips & News on May 1, 2013 by Armin Partash

Toronto’s active real estate sector is bringing on challenges for buyers who are looking to find good deals on the houses that they like. Many home buyers are being sideswiped by an approach called a bully offer that has become a popular way to seize houses off the market in advance of a bidding date. This situation has put many realtor agents and brokers in a dilemma of how to best serve their clients while maintaining consumer confidence in the bidding system intact.

The Bully Offer is hoping that:

  • Only a small number of people have seen the house, thus the interest will be lower than it would be in 7 days.
  • Those who have viewed the house, and are interested, will not be able to pull their resources together and put down an offer fast enough to contend – and if they do, that they may not have had time complete financing and home inspection done.
  • The seller is so thrilled over the big numbers in the offer that they accept it.

Most agents act in the best interest of their buyers and a bully offer can provide security and assurance to the buyer that the house they want with will be theirs for a competitive price. It might mean paying a bit more for a house – or it might mean getting a good deal. It all depends on the Seller and the skills of the Realtors who represent the buyers.

So as the seller, what do you do with a bully offer?

We always counsel our clients who are trying to get multiple offers to oppose the urge to look at offers until the Bidding Date. We know that Bullies are trying to avoid the process and some are even hoping to get the house for less money. In almost all cases, if a buyer is ready to make an offer today, they’ll be back the following week to bid with all others. What’s good for the Bully is not always in the best interest of the Seller.

This advice has turned out to be most be sensible in most cases; however just as many are so intrigued by the offer that they are unable to say no. That is why we recommend you do a home inspection before you put your house on the market. A home inspection helps establish you as a conscientious seller. And the image you’ll project doing this just might give you the edge over other competing sellers.

Armin Partash
About Author

Armin Partash

It is important to work with a Realtor that you are comfortable with and in whom you have confidence. I will make the home buying & selling experience seamless, enjoyable & finalized in timely manner at the best possible price for you.

Search Our Website

Recent Posts

  • Annual Growth in Home Sales Continued in August 2014
  • The TORONTO REAL ESTATE BOARD
  • 5 Tips for First-Time Buyers
  • What to do with a bully offer?
  • What documents do I need when applying for a mortgage?

Categories

  • Market Watch
  • Real Estate Tips & News

Search Property

Price
Area

Toronto Ideal Homes

Real estate is one of the biggest and most difficult investments my clients will ever make. Buying or selling a home is both exciting yet stressful. Choosing a property holds a special place of significance for people; it is a place to settle down, to raise a family, and ultimately make it their own.

Recent Properties

  • For Sold

    174 patricia ave

  • For Sale

    399 Adelaide St W

  • 80 John Festival Tower
    For Rent

    80 John Festival Tower

  • For Rent

    6 Park Lawn Rd 3405

Recent Tips and News

  • Annual Growth in Home Sales Continued in August 2014
  • The TORONTO REAL ESTATE BOARD
  • 5 Tips for First-Time Buyers
  • What to do with a bully offer?
  • What documents do I need when applying for a mortgage?
armin partash sales representative
@2019 Toronto Ideal Homes. All Rights Reserved.
Login . Dashboard
Toronto Ideal Homes