You’ve Found “The Home.” Now What?


The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?


The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.


Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.


But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.


A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.


If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.


It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.


All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.


A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.


If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.


It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.


Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.


Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

Our Beginner's Guide to Manitoba - Why You Should Settle Here


When you're trying to find a city to settle in, there are many factors you need to consider, such as the standard of living, employment situation, local economy, culture, and more. Some would even want to consider living a slower life and get out of the hustle and bustle of major cities by moving to the province.


One of Canada's three prairie provinces is Manitoba. Located in the center of Canada, Manitoba is home to over a million people, and the largest city in the province, Winnipeg, has a population of 780,000. The second-largest city, Brandon, is home to around 53,000 people. And over the years, Manitoba has experienced an increase in immigrants and currently has 13,000 choosing to settle within its borders yearly.


If you're looking for a city to settle in and start a new life, consider working with the best real estate agent in Manitoba so they can help you find the perfect town and housing that will fit your lifestyle.


Besides that, our beginner's guide on Manitoba will give you an overview of what makes this amazing city the perfect place to settle in. Let's get to it!

Economy and Employment

If you're part of the mining, manufacturing, and agriculture industry, Manitoba would be an ideal city for you. Farming has always been a primary occupation for Manitoba residents and is known to produce high-quality wheat, barley, oats, flax, sunflower, dairy, and other livestock farms.


Because of farming and agriculture, their food processing industries also began, along with manufacturing, transportation, and even aerospace industries.


At present, Manitoba's unemployment rate is around 5.6%, which is below the Canadian average of 6.8%. With that, the city's economy is expected to grow even more. Additionally, the mandatory minimum wage in Manitoba is $10.70. It also has one of the lowest marginal personal income tax rates in Canada.

Standard of Living

One of the best things about living in Manitoba is the low cost of living, allowing you to enjoy an incredibly comfortable life. In Manitoba, housing, energy, insurance, and even education are the least expensive in the country. Because residents of the province won't need to spend much, Manitobans can set aside money for vacation homes and leisure activities.

Housing

People are drawn to settle in Manitoba because housing in this city costs pretty low. When you're looking for a house to buy, you should know that Manitoba's residential housing market is highly competitive, meaning affordable housing options will always be available.


On average, a house in Manitoba would cost $271,000, making it one of the lowest in any province in the country. Besides that, residential areas are close to various facilities, making running errands, getting work, or bringing your kids to school much easier.


If you're considering buying a house in Manitoba, it's best to speak to the best real estate agent in the city so you can find the best deals and housing options in the city.

Culture

One of the reasons many people love Manitoba is its unique blend of cultures brought together by immigration. Because multiculturalism is embraced in this city, Manitobans celebrate numerous ethnic festivals that highlight the strength of various cultures.


Besides being a culture-centred city, Manitobans are also known to be friendly and extremely generous. This province is known to have high volunteerism rates, and residents are quite generous towards various charitable causes. 

Conclusion

Now that you have an overview of how wonderful Manitoba is, you're probably convinced about moving to this vibrant city. Before you pack your bags, make sure to speak to the best real estate agent so you can find the best home for you and your family. By doing this, you'll be able to find your dream home in Manitoba in no time!


Are you thinking of moving to Manitoba? Speak to the best real estate agent in town. I am Chris Low, a real estate agent specializing in buying and selling residential, commercial, and farm real estate in Brandon and Virden, Manitoba. Learn more about my services today!

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