Property buyers are forced to compete hard in many markets. So, how can you improve your chances of securing your dream home?
Here are five tips to beat out other buyers:
Have a home loan pre-approval in place. Having a mortgage Agreement in Principle from a lender will make you look more attractive in the eyes of estate agents. Positioning you as a serious buyer who can move quickly if their client accepts your bid.
Build good relationships with agents. Estate agents work for vendors, not buyers, so they prioritise their clients' interests. But if you can establish a good working relationship with agents. Even while keeping some of your cards up your sleeve. They might favour your offer over those of other buyers.
Be realistic with your offers. If you're buying via private treaty. Avoid the temptation to begin with a lowball bid. Otherwise, agents will take you less seriously than buyers who make serious offers.
Make an offer before the auction. If you're buying via auction, get ahead of the competition by making an offer before the auction. If your price matches what the agent expects to get at auction. They might tell their vendor to play it safe and accept your offer.
Be flexible around settlement. Tell the agent you're willing to accept different settlement conditions. (Assuming that’s possible). This might include a short or long settlement or a scenario where you let the vendor rent the property for some time before you move in.
Let us take some of the stress out of home purchases. If you need pre-approval, contact us, and we’ll help you secure your dream home!
SPEAK TO AN ADVISER