This past week I was about to preview a condo in downtown Toronto with the understanding that all offers on this particular condo were to be presented the following Thursday. That was fine my client was comfortable with that particular situation.
However on the drive to the condo I was informed that there was going to be a bully offer presented on it at 6:00pm. It was now 5:30pm. my client had yet to see the unit.
This is strange I thought, but immediately informed my client that there was going to be an offer presented at 6:00pm. I also told her that this was highly unusual.
We proceeded to view the condo and my client was very uneasy at the thought of making a hasty decision. I contacted the selling realtor and asked what was going on. She informed me that the other realtors client was insisting on presenting his offer even though offers were to be submitted the following Thursday. Yet stated also that her seller was also very uneasy at the fact they were being pushed into a corner. It was of course impossible for me to prepare an offer and present it with in a few minutes. However the realtor for the seller informed me that it probably would not go and that I could come back on the following Thursday. She also told me she would immediately let me know what the outcome was.
This of course didn’t happen. I had to contact her to find out what had transpired.
The condo had been sold. Which brings us to this conclusion, if you can Bully your way in do.
In this market you must use what ever arsenal is legal.