If you are going to buy right now be very, very careful. Don't waive the "subject to financing" condition. The reason sellers are asking for this condition to be waived is because, in some bidding frenzies, some properties are going for far beyond current market value, and realtors know that there is a good chance the bank will refuse to mortgage these properties. Also be sure to do your own "due dillegence" on market comparables. Someone just bought our neighbour's house for $640,000. This house was built about 15 months ago for $350,000 and was probably only worth about $500,000-$550,000 in the current market.... homes have sold on WeList on our street for $440,000-$510,000. However, buyers were given comparables from MLS for houses on another street... houses on larger lots with designer interiors that back onto a treed ravine. (Our neighbours do not.) In the current market, if you don't have time to do proper research, you are going to get screwed.
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