Secret strategy to lock down a home in this disordered Alberta real estate market

Interest rates may be on the rise, but mortgages are in demand, especially in Alberta. As a result, lenders offering great products at competitive rates are absolutely swamped! That means underwriting backlogs threaten homebuyers' ability to meet their financing condition on time.

In normal times (read: pre-pandemic), 7-10 business days to meet your financing condition was enough, but especially if you had an underwritten pre-approval with your trusty mortgage broker.

At the time of this writing, top lenders are finding themselves understaffed and overwhelmed with applications. Broker service times are as long as 12-14 business days right now. (I'm not kidding.) Therefore, if you and your real estate agent are negotiating on a hot property--and possibly competing with other anxious buyers--it's mission critical you can negotiate enough time for mortgage approval.

Here are some key strategies for locking down that home you simply have to have! Get in touch if you're in the market for a home and let's build a strategy that's right for you!