With so much talk about bidding wars lately, it brought to mind thoughts of some of my past clients. Clients who have lost out on more than one multiple offer scenario; being left frustrated and burned by the nuances of Toronto’s real estate market along with the idea of having lost their ‘dream home’. I’ve got lots of great stories about bidding wars where sellers have profited HUGE and where buyers have acquired amazing homes in the most heated multiple offer situations, but sometimes you just can’t win them all. Here are some tips to help you prepare yourself for what the dreaded bidding war entails:   STEP 1- figure out the property's value and what you can afford! Always

Although everybody seems to have an opinion on what any particular home should be worth, market value is defined as the amount a buyer is willing to pay within a reasonable amount of time. Market value is not what a seller feels they should get for their home, or even necessarily, the final sale price for a property should a successful deal be negotiated. And being that sellers have the liberty of pricing their home at any price they want, it’s safe to say that many houses sit for months on the open market without a single bite, all because they are severely overpriced. Not that I want to give away all my little secrets, but I thought I’d share