You have found the perfect property but how do you become the successful buyer?

Do your research – you are already trolling through the web looking at properties in your chosen area. Many sites have an alert option to save your searches.  Keep an eye on the recent sales information; just be aware that what a three-bedroom house was selling for say 6-12 months ago might not be a reflection of what is happening now.  In this rising market, properties are spending fewer days on the market and are often selling for more.  Talk to the local agents in the area.  They will give a better indication of the market right now, the websites you are searching on rely on information provided to them that could be at least 3 months old.

Finance – vendors like to hear the words ‘Cash sale’, they can consider your offer with greater certainty. However not everyone has this option so don’t despair, you just need to be more certain and meet with your financial institution to arrange pre-approval.  Then you can get to work finding the place for you.

Best and final offer – you might have heard this recently but what does it mean? The property is listed for private sale and there is more than one purchaser interested in making an offer, what do you do?  Well the best thing you can do is make your best and final offer; an offer that is the most you are prepared to spend and if you are unsuccessful you would happily walk away knowing you gave it your best shot.

Conveyancer/Solicitor – to formalise your offer a Contract of Sale is entered into, there are a few items that you need to provide for this document including your full details (legal name, address etc.) and more importantly a conveyancer or solicitor that will be acting on your behalf. If you have already chosen someone to act on your behalf then you will have their details to give to the agent for the Contract.

Deposit – having the funds ready to draw on to pay your deposit is another good idea to have ready as part of your preparation to buy.

While you are on the hunt in this current market the best thing you can do is remember, preparation is the key.

Author: Kylie Wickham, Sales Client Care Manager at Dickens Real Estate.

Do you have a real estate question? Contact Kylie for assistance

 

Follow: Subscribe to this post's comments