Buying Tips
INSPECTING:
- Is it in good condition structurally?
- Take the time to look at everything in the home.
- Research the area you want to live in.
- Open ovens, cupboards and move furniture.
- Always do a drive past prior to arranging an inspection.
- Choose location best suited for your needs.
- Know your budget, or your finance capacity.
- Do not raise your expectation by looking too early.
- Be ready to sign a contract if this is the house you like.
- Don’t always go by first impression.
MAKING AN OFFER:
- Always speak to the bank BEFORE making an offer.
- Be reasonable with your first offer.
- Be prepared to negotiate.
- Always offer as close to the price you are prepared to pay, and have just one offer left in you.
- Be aware that the price is not the only criteria for a successful offer.
- Make agent aware of any specific conditions and terms of offer.
- Don’t procrastinate on a popular property you may miss out altogether.
- If subject to finance, know your limit.
- Consider what you might need extra $ for stamp duty etc.
- Request that your offer be put on contract.
NEGOTIATE THE CONTRACT:
- Be willing and able to declare your best offer.
- Be willing and able to pay deposit on signing.
- Understand that it is the Vendors discretion to accept the offer or not.
- Try to be flexible; it will help you offer.
- Be firm, but (stet) listen to the reasoning for negotiation.
- Make sure you know your financial capacity.
- Always leave the agent with a copy of a contract until the contract is exchanged.
- Don’t forget your expenses, ie: stamp duty and conveyancing fees.
COMMON MISTAKES:
- Not believing the agent when he/she says it needs to be your best offer.
- Not speaking with finance provider before making offer.
- Expecting everything in the house to work when not previously checked.
- Not asking questions.
- Don’t expect to get too much $ off in work needed.
- Consider your options – make a logical decision.
- Offering low – offending the vendor.
- Always research the property to your satisfaction before signing an unconditional contract.
- Never make a decision based on armchair experts advise. YOU! Have to live in the house, so don’t miss out through third parties.
- Trying to get a bargain instead of getting the house.