It seems that many buyers find this area somewhat tricky, and are not sure where to start. The REIQ has some great advice regarding where to start, as well as deciding on what price to offer.
“If you’ve found your dream home, you need to decide what price you are prepared to offer.
Before doing this you may like to consider conducting a property sales history search to find out what the property last sold for and when; how large the property is; and the recent sale prices of surrounding properties.
You can get this information from a number of sources including the Department of Natural Resources and Water, RP Data and PDS Live.
Consider get an independent valuation by a professional (remember: real estate agents aren’t valuers). Call the Australian Property Institute on 07 3832 3139 for a list of licensed valuers…
…Buyers should also be aware that sellers will examine all the terms and conditions of each offer before deciding to accept or reject any particular offer.
The conditions can make certain offers more attractive for reasons other than the proposed price alone.
Some sellers may be prepared to accept a lower price if the offer is unconditional rather than take the risk that a higher offer may not proceed to settlement, because of the special conditions required by a buyer.
Many properties are devoid of pricing or heading to auction, hence buyers are afraid of obviously offering too much and either paying above the odds or not leaving enough room to negotiate with the sellers.” (REIQ)
As a buyer the best way to approach this is to try and work out what else in the area is similar, if you see they are ‘under offer’ on the websites, call the agent and ask what they sold for. When considering making and offer don’t be afraid to ask an agent for some past sales history similar to the property you are interested in, most times the agent will have images as well as such information as bed, bath, car accommodation and size of land.
Make your offer and never forget to give the agent your reasons why. Remember, real estate timing is ever changing and properties can sometimes sit there for a while and then all of a sudden get snapped up, so if you like a property and would be disappointed to see a sold sticker on the board
MAKE AN OFFER!
Brett Scott – The Brett & Lisa Team
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