How to successfully make an offer on a property

mm Paul Verbiton July 18, 2019
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Purchasing a property is a big move that will significantly influence your life and your finances from that point on. It’s a huge investment and you will obviously want to get a good price for it. On the other side of the equation, the seller also wants a price that will benefit them. If you want to make an offer that will stick, you need to look at the facts.

1. Pick an initial price (with some help)

The first number you pick will set the tone for the whole purchasing process. It needs to be both reasonable and beneficial for your finances. Finding the right kind of balance that will slightly tip in your favour requires a bit of preparation.

A lot of things go into the initial price. The current state of the housing market, your budget, the seller’s position, and lots of other things need to be accounted for. This is why you have to formulate the price with the help of your agent, they will know a lot more about many of these factors than you will.

2. Consider paying in cash

When making an offer that is substantially lower than what the seller might request, you have to play hard. Paying in cash is one of the most enticing offers you can give to the seller. Low-balling the numbers is a lot easier when you have something to cushion the blow with.

The process is a lot easier to streamline with a cash offer, so much so that the seller probably won’t hesitate to accept a much lower offer.

3. Make them like you

Flattery and rhetoric go a long way, even when you’re dealing with pure business. If you want your offer to be seen in a positive light, you will have to make the seller like you.

Remember to compliment the home in question and give thanks for having the opportunity to buy a property that is so well designed. A little flattery goes a long way.

4. Talk to your buyer’s agent

People often underestimate what goes into purchasing a home. There are more variables than you can count and they all influence the price in one way or another. Leaving it up to your limited knowledge as a buyer would lead to disastrous results.

The buying process would be a lot more efficient with the help of an agent. There are lots of Sydney based buyers agents that could help you purchase a home for your ideal price. Even if you have to pay them a fee, you can count on ending up with a net positive due to a successful price arrangement.

5. Don’t give up so soon

Buying a house is a big deal. You can’t count on your first offer being successful. However, that doesn’t mean you should stop trying, even when it comes to the same property.

If the seller has declined your offer, don’t feel down. Think proactively and tell them to keep your number in case they change their mind. In the real estate market, you never know how prices will fluctuate, and the seller might change their mind after a couple of months.

Conclusion

Deciding on an initial offer for a home is a lot harder than it seems. There are lots of variables that you have to consider and the seller could decline it for one reason or another. Don’t be afraid to consult the best of the best, because, with the help of a professional in the field, you can expect that your offer will be taken seriously and that it will benefit your finances significantly more than if you did it on your own.

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Category: Blog, Home & Garden
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Paul Verbiton

I enjoy spotting opportunities and doing my best to grab them if I can. I am eager to see the world, I love taking photos and writing, coming up with topics that are pleasant to read, funny, and interesting at the same time.

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