The One Document That Can Help You Win a Bidding War — Even If You’re Not the Highest Bidder

Josh Perez • October 16, 2025

Have you ever lost a bidding war on a house you loved? It’s one of the most frustrating moments for any homebuyer — but it doesn’t have to happen again.


Most people think a mortgage pre-approval is simply about knowing their budget. That’s only half the story. The real power of a pre-approval is that it can be your secret weapon in negotiations — a tool that helps you win the house even if you’re not the highest bidder.

“Everyone thinks a mortgage pre-approval is only about your budget. That’s only half the story. The real power is using it as a negotiation tool so you can win the house even if you’re not the highest bidder.”

Why Sellers Care More About Certainty Than Price

From the seller’s perspective, the dream buyer isn’t necessarily the one offering the most money — it’s the one who can actually close the deal.


Picture this:

  • Offer A: $710,000, but with shaky financing.
  • Offer B: $700,000, backed by a rock-solid pre-approval letter from an experienced mortgage broker.


Nine times out of ten, the seller will choose the certain deal. Because a deal that collapses at the last minute due to financing issues is a seller’s worst nightmare.


Your Pre-Approval = Proof You’re the Real Deal

A strong pre-approval letter does more than show what you can afford — it shows that you’re serious, qualified, and ready to close. It removes the seller’s biggest fear: that financing will fall through.

That piece of paper isn’t just for you — it’s for them. It gives the seller confidence that you’re the safest bet.

Before You Make an Offer, Make This Move

Before you even think about putting in an offer, make sure your pre-approval is done, verified, and backed by an experienced mortgage professional.


When you’re ready, book a call with me using the link in my bio, and I’ll help you get pre-approved the right way — so your next offer stands out for all the right reasons.

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Josh Perez
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Deposit vs. Down Payment: Key Differences for Homebuyers

By Josh Perez • February 18, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.
Cozy armchair next to a small wooden table with a mug and an open book. Sunlight streams through a window.

Is a 5% Down Payment a Mistake? Here’s the Unpopular Truth.

By Josh Perez • February 15, 2026
Discover why a 5% down payment isn’t always irresponsible. Learn when a low down payment is a smart financial move for Ontario homebuyers and when it’s a risk.