This week, MonsterMortgage.ca talks about the ‘Firm’ offer and what it means to you when searching for your next home.
MonsterMortgage.ca Mortgage Expert Kristian Harris discusses a decision that many prospective home-owners often have to make – whether to submit an offer to purchase a home based on the condition that they can acquire sufficient financing to complete the transaction, or to place a ‘firm’ offer which omits the financing condition.
There are real estate markets where prospective home-owners might decide that a ‘firm’ offer is necessary to obtain their desired property. Sellers, on the other hand, may have to decide between a number of offers and an offer not dependent on conditional financing might be the difference between two bids offering a similar dollar amount on their property.
In this week’s video blog, Kristian speaks to these firm offers and the prospective home-owners considering them for their next property purchase. While there are benefits to placing a firm offer on the home of your dreams, there are also a number of items of which prospective buyers should have prepared before placing their offer.