So you’ve inspected your dream home and you want to secure it. Not only that- you want to beat the auction process and buy it now…
The agent will guide you to where they believe the value falls. They base this on recent sales of similar properties within the area. While they might be conservative with their guide, for the most part it’s an accurate one. However, this doesn’t mean other people won’t pay more for it.
So you want to make an offer and for it to be accepted. How do you achieve this?
First of all, work out how much you’re prepared to pay. Get clear on your maximum figure. Don’t go pushing for a bargain, either. If you really want the property, now is not the time to be haggling!
Instead, be bold and lodge your offer. Be prepared to exchange contracts immediately and pay the deposit. If you go back and forth with counter offers or requests prior to exchanging, you’ll only upset the vendor and if you really want the property then you want to keep them onside.
If you plan to go low, don’t bother. This will only frustrate the vendor and make further negotiating harder for you. Be confident that the offer you make to them is based on the property’s true worth- do your research and speak to a trusted agent or look up apps where you can do your research and discover how much a neighbouring property is worth. The ANZ bank app or realestate.com are both useful tools in helping you to achieve this. If you decide to go high, your best chance at securing the property is to look at the price guide and then beat it by 5 to 10%. So if the guide says a property is 1.4 to 1.5 million, then put forward an offer of $1.55 million to get it off the market.
Doing your prior research and being prepared to offer the vendor just that little bit extra could mean the difference between missing out on a great opportunity and closing the deal on your dream home. We wish you the best of luck!
As an added note, if you’re thinking of putting your home on the market, call us today and find out why right now is the perfect time to list your property- but hurry, this window of opportunity won’t be open very long at all: