Calgary Real Estate Bidding Wars
- Apr 19
- 2 min read
12 offers. One weekend. Here is what happened and what buyers need to know before stepping into a competition like this.
A home in the Palliser neighbourhood of Calgary just sold for $990,000, nearly $190,100 above its asking price of $799,900. The result speaks to the fierce demand for established Calgary communities and well-maintained homes. Palliser, with its tree-lined streets, mature lots, and proximity to amenities, continues to draw buyers who are willing to go well beyond list price to secure their place in the area.
With 12 offers on the table, this was not a quiet weekend for anyone involved. If you are thinking about entering a competition like this one, here are some things your realtor might be too polite to tell you directly.
TIPS FOR BUYERS IN A BIDDING WAR
When you show up to an open house and there are four groups lined up behind you, that is not a coincidence. Overlapping appointments are not a sales tactic. That is real interest happening in real time. Pay attention to what you are walking into.
If the listing agent has set an offer review date, treat it seriously. Bring your best and final offer. Work with your realtor to find a number that you would be comfortable with long term, because the home you buy today is eventually the home you will sell.
The house will never be perfect. If a bidding war is coming, you need to be honest with yourself about whether you can live with the imperfections day to day until you have the time and budget to address them.
Make sure your Consumer Relationship Guide and Buyer Agreement are signed with the realtor who showed you the property. They have already been in the home, they know the listing agent, and they will not lose time playing catch up when it matters most.
Have your deposit ready and make it a healthy one. Sellers are choosing between a list of strangers. A strong deposit signals that you are serious and that you will close. In a competitive situation, that matters just as much as the number on the offer.
Thinking about selling in SW Calgary? Let's talk about what your home could achieve in this market. We can help your home stand out. If you need a realtor that can help your offer get to the top of the pile and isn't afraid of the Calgary Real Estate Bidding Wars, give Magnolia a call today!
Photo courtesy of realtor.ca
