A Buyer’s Agent Tips on Buying Successfully
As a Buyer’s Agent, I continually help clients purchase homes. I find time and again that the best properties sell quickly – no matter what the current market. When you’ve finally found the perfect property for you, you need to position yourself so that you can make it yours – but be certain that you’re not over-paying. Below I share some tips to help you with that process.
1. Looks can be deceiving. A property may look very different in real life to how it looks online. Photoshop takes out most defects such as grubby carpet, washed out paint colour, lack of light and poor finishes making a home look pristine and welcoming which may or may not be the case. A building and pest / strata reports may reveal significant faults or challenges about the property that may influence your decision to purchase.
2. Investigate the property you’ve chosen. It is very important to investigate the property – and the neighbourhood – thoroughly. Always inspect the property at least twice and bring other people with you to view the home. Then go back to the property at different times of the day, while it may be quiet on a Saturday it may be very different on a weekday or during school pick up hours. Speak to neighbours and ask how they feel about the neighbourhood and if there are any issues.
3. Never make an offer in haste – you should always be very considered regarding whether to make an offer and what the amount will be. At the same time, if you don’t make an offer before someone else does, you may lose out! If you have done your research, examined the market thoroughly, worked out what comparable properties are selling for in the same type of street in the same suburb then you should be able to work out what the home is worth. This is where the services of a Buyer’s Agent can be a great asset.
4. Request a Contract of Sale (known as a Section 32 in Victoria) if you’re interested in purchasing the home and have it reviewed by your conveyancer or property lawyer.
5. Keep your options open – just because you love this property, doesn’t mean you shouldn’t continue exploring other homes that may also be a good fit for your needs. Especially as you may not be successful buying your first choice.
6. Never overstretch your budget. Your maximum is your maximum.
7. Obtain Finance Pre-Approval prior to starting. Ensure you have finance pre-approved and a deposit before you set out on your search. Knowing you have the funds available to proceed as soon as you find your dream property. Pre-approvals usually have a time limit so you then must up your game and “lose your weekends” to property searches but the security is worthwhile!
8. Engage a conveyancer / property lawyer before you set out and that they will be available to you so that when the right property comes up they are available to review the Contract of Sale for you.
9. Be aware of burn-out. If you have been searching for a long time, you may be inclined to compromise, over-pay or “settle” just so that you can move on with other things in life. A property purchase is expensive – perhaps the most expensive decision you’ll ever make – so the decision to buy needs to be a considered, rational and wise decision.
10. Our Buyer’s Agents represent YOU. Every day, our Buyer’s Agents purchase homes for our clients. We relieve buyers of the burden of searching, inspecting, reviewing, identifying and evaluating properties. We add incalculable value: due diligence, 30 + years’ knowledge and experience, negotiation strategy and purchasing / auction know-how. The average search time with a Buyer’s Agent is generally 60 – 90 days for a home due to the efficiencies we’re able to extract. We have access to Off-Market properties via our wide network of sales agents, ability to “cut to the chase”, and use of our unique Property Buyer Tracker System for clients and detailed Sales Analysis Report.
Buying Real Estate is the Biggest Financial Commitment You are Ever Likely to Make. If You Would Like to Buy the Easy and Stress-Free Way, Contact Me Today, Zac Newbold – Director, Your Australian Property