The Kelowna housing market is hotter than the sand at Gyro Beach on a 40-degree day, which means there needs to be some outside-the-box thinking to get that house you’ve always wanted.
And that’s what AJ Hazzi and his team at Vantage West Realty have done with their Instant Offer Program, which alleviates the Catch-22 many are facing in the housing market these days. The idea is as simple as it is forward thinking.
There is so little inventory in Kelowna and the market is so competitive that potential buyers find it hard to compete if they make the sale of their current home a condition of their offer.
“You find yourself frozen in place, where you can’t buy because you haven’t sold and you can’t sell because you haven’t secured your next home,” Hazzi says.
Vantage West came up with the Instant Offer incentive as a detour around that financial roadblock. A professional third party appraiser will appraise the fair market value of your home, and The Vantage Group will guarantee that amount on the spot. This gives a seller total peace of mind because they have a fair-market-value, all-cash offer, allowing them to close as quickly as they need it to.
Just like that, you’re a cash buyer. Hazzi and the Vantage group have stripped out all the fine print of this offer; the only condition is that Hazzi himself needs to approve the property, as some outliers and property types such as mobile homes or lease-land properties will not qualify.
“We’ve been consulting people for the better part of a year now, and we found that so many homeowners find themselves in this space,” Hazzi says. “We decided to do something that gets people immediately unstuck.”
The deal gets even better, because your home will still be listed on the open market by an award winning real estate marketing firm, and in all likelihood sell quickly and potentially over list price. In this likely scenario the seller gets to take the better offer, and the guaranteed offer gets torn up. The instant offer procured by Vantage West is simply a safety net that will likely never be needed.
“This isn’t a program we would offer in any market, obviously, but given the current landscape it’s a risk we feel is worth taking to help people get moving and grow our market share at the same time.”
If you find yourself in this real estate Catch-22, you can find start the conversation simply by clicking here.
Appraisal must be approved and accepted by The Vantage Group. Not all properties will be accepted. Offers will be subject to professional home inspection, with this condition met prior to going onto the MLS. Property must be listed by Vantage West Realty Inc. for a minimum of 30 days.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Okanagan Edge.
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