Tired Of Searching 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 with different housing preferences, depending on their budget.
Some prefer new, modern homes while others like ones with old charm.
Some make location their #1 priority while others focus on a home’s features.
With these different needs in mind, we share some important tips to help you gain the upper hand when it comes to purchasing your property, whether by Private Treaty or Auction.
Take note of these to get the most out of your next move:
#1: Plan, research and budget.
Take your time deciding what you really want to buy. Research how much properties similar to 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, shortlisting all the important details (road access, entertainment and shopping hubs, school and availability of public transport etc.)
In the current local sales climate, prices continue to escalate rapidly. Without the discipline needed, many buyers get caught up in the moment and end up 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.
#2: Make your interest known.
Expressing your interest in a property can be 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. In the case of purchasing a unit, you instead seek a Strata Report.
If you like a property that you’ve inspected, be sure to tell the selling agent. If you don’t let them know, they might sell the property to another interested party without first coming back to you.
#3: Ask The Right Questions.
Here are the types of questions you want to be asking:
Why is the vendor selling, what’s their motivation?
Are they willing to sell before auction?
What is the price or 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 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?
#4: 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.
For any other questions about buying your next home, Contact Us