Thursday, January 29, 2009


You don't necessarily have to wait for an action to buy if you're certain it's the right property. One way to avoid all the angst is to try and buy the property beforehand.

Of course you will need to do your homework and line up your finances. You may want your solicitor to check out the contract of sale to make sure everything is correct. You should have a professional building and pest inspection done on the property and most importantly to make a serious bid you will want to already have your financing lined up.

This pre-auction strategy is particularly useful if you think there will be great interest in the property. But be prepared to offer a fair price. You won't achieve a bargain but you may avoid having to bid against 3 or 4 other interested parties.

Remember everything is negotiable.

You don't have to necessarily accept the seller's terms. You can ask (but may not receive) for amended terms. At least this way you can gauge the level of interest and the degree of competition by the seller and their agent's reaction. If you ask for a longer settlement for instance and the seller refuses it might indicate there is strong interest. On the other hand if they readily agree you may be in a stronger position to negotiate further.

If you have a real estate interest or need feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles on 0418 517 525 or call into our friendly offices at Browns Plains and Waterford for immediate assistance.

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