Mortgage News
How to safeguard yourself in a bidding war
Finding a home you love is an exciting part of the process. It is easy to get swept up in the excitement of it all, and it is also commonplace for a listing agent to indicate there are other offers to stimulate a faster response from a client.
Published
Today's ever-changing real estate market, bidding wars are becoming more commonplace, especially in popular markets like Toronto. What many buyers don't know, however is that there are ways to protect themselves in these situations.
This article explores a bidding war clause that was developed by a Toronto real estate lawyer to protect potential buyers from going far over their prospective mortgage budget.