What Does It Mean to Be "Offer Ready"?

In a competitive market, every time a unit sells in a complex, the next one is typically priced higher. This can quickly price buyers out of certain segments, such as townhomes.

So, how do you prepare when you find a listing that suits your needs?

2024 was a slower year for real estate, but 2025 has already seen two interest rate adjustment, with more rate adjustments expected. So far, the market has remained steady and on an upward trajectory, with shorter days on market, particularly for townhomes and detached homes sold since January 1st, 2025.

To compete effectively, you need to be fully prepared to make an offer. Here’s what that looks like:

🏦 Mortgage pre-approval secured – This gives you a clear budget and strengthens your offer. Ask your preferred Realtor for recommendations for Mortgage professionals.

💳 Deposit funds ready and in Canada – A deposit is typically 5% of the purchase price, typically due within 24 hours of final subject removal.

💰 Down payment funds accessible and in Canada – Ensure your money is readily available.

🏡 Be available to view homes as soon as they hit the market – Townhomes under $1M are moving fast.

🔍 Prepare for home inspections in advance – If there’s a delayed offer presentation, use that time to complete a home inspection beforehand. This allows you to submit a cleaner offer with fewer conditions, making it more attractive to sellers.

📅 Closing dates matter – Dates are often just as important as price in negotiations. The more flexible you are, the stronger your offer.

🏠 If your purchase is subject to the sale of your current home, it’s crucial to have an experienced professional guiding you. There are several ways to navigate this situation successfully, depending on your unique circumstances—I’d be happy to go over the best strategies for your situation.

👨‍👩‍👦 Receiving help from parents? Make sure they have their finances in order if they plan to co-sign or contribute to your down payment. Some lenders require funds to be in a Canadian bank for a set period before they can be used.

🚗 No new car, no new loans! Do not finance a vehicle, vacation, or any major purchase while preparing to buy a home. New loans can reduce your mortgage qualification and impact your buying power.

By taking these steps, you'll be in the best position to act quickly and secure the right home in 2025’s competitive market. If you have any questions or need guidance, I’m always happy to chat!