Tips for buyers

Are you growing tired in the search for your new home?

The property market in the Forest area of Sydney is made up of a diverse group of families, singles and couples who prefer different type of homes according to their pockets.

Some home owners prefer new homes, others prefer old ones. Some focus on location, others on a home’s features.

Remaining mindful of the different needs of the buyer population we have devised some tips for all potential buyers to help them gain the upper hand when it comes to purchasing their property whether that be by Private Treaty or by Auction.

  • Plan, research and budget.

Take your time to decide what it is you want to buy, research how much properties like the one you’d like to purchase are selling for, set your budget and stick to it.

You should be very clear about what matters to you, shortlist all the important details such as road access, entertainment and shopping hubs, school and availability of public transport.

In the current local sales climate prices continue to rise rapidly and without discipline many buyers find themselves getting caught up in the moment and paying more than what they really wanted to.

Let the selling agent know what your budget is. Be honest with them so that they can assist with your search.

  • Make your interest known.

Indicating your interest in a property can be as simple as asking to receive a copy of the contract for sale or you may want to put an offer in to purchase or arrange to receive a copy of the Building Inspection and/or Pest Report or in the case of purchasing a unit, seek a Strata Report.

If you like a property that you have inspected be sure to tell the selling agent. If you don’t let them know, they may sell the property to another interested party without first coming back to you.

  • Ask Questions.

Why is the vendor selling, what is their motivation? Are they willing to sell before auction? What is the price or What is the price guide? If I make an offer at that price now, will the vendor sell for that? What comparable properties have sold in the area and for how much did they sell for? How long has the property been advertised for sale? Are there any easements that we should be aware of?

  • Seek Legal Advice

The importance of legal advice cannot be overstated. To protect your interests your representative will read a copy of the Contract for Sale carefully. They will highlight any issues that they feel you should be aware of before making an offer to purchase and they may seek to improve your buying position by requesting that special conditions be included in the contract should you be the successful purchaser.