A lot of people are coming to me because they are continuously missing out on properties, tired of burning their time at home opens and property hunting or are just having trouble navigating the entire process.
There’s no denying it, the market is still hot and most properties that sell are leaving a wake of disappointed buyers back out in the market looking for the next property to bid on.
So, I thought I’d dish out some tips to help you if you are currently looking to buy or thinking about buying.
Get finance pre-approval
Before you step inside your first home open, you should be stepping inside a finance brokers office. You need understand your financial boundaries so you can confidently make offers knowing that you won’t lose the property in the case that your finance fails. I’ve snapped up numerous properties where the initial buyer has failed finance, other buyers have moved on and my finance ready client has won the deal. Don’t be that guy who misses out.
Be ready to pull the trigger
You need to know the market. Look at what similar properties have been selling for in past so when you are placing your offer you know what the true market value. Many buyers are overpaying in this market and many buyers are missing out as their offer is falling short of the mark due to lack of knowledge.
Work with the agent, not against them
The agent holds the key in the whole transaction and your goal is to have them hand you the keys. Don’t play hardball, it doesn’t work in this market. Find out the sellers motivation and build your terms and conditions to meet with their expectations. They might want a longer settlement or maybe they want to rent back until they find a house they can move into. You need to create a win win situation for all parties.
Get to know the agents in the area you want to purchase in. Build a connection, so when they do an appraisal on a property that suits you, they are calling you straight away.
Get in early
If there is an opportunity to inspect a house early, then jump onto it. Most homes will go through the home open cycle but some agents don’t want the hassle of dealing with opens and will be keen to close the deal early if the price is right and the seller is also willing.
You need to have your finger on the pulse and be flexible to get the deal done. You need time to build relationships and time to research and educate yourself on the market. If you don’t have the time or patience for this, then maybe you are better off outsourcing the entire process to a Buyers Agent. An industry professional. Someone who is working full time on the search mission and has already built up the connections from years of searching.
Reach out if you need some help or want to have a chat about anything property!