What to expect when your offer to buy a home is in competition

Have you heard the stories going around about multiple offers on properties two minutes after it’s come onto the market and it sells for $100,000 over asking price? Well, that may be a bit exaggerated and I’m sure there are stories out there that are, although the excitement and craziness has stirred up activity like that when buying a home in Calgary’s seller’s market.

There were several times that I presented an offer for my clients where we competed with one to five other offers. And during those times, I saw buying a home in calgaryafterwords, that the property sold for 10-15% (or $40,000 to $80,000) over asking price.

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