Homebuyers not purchasing at an auction are most likely going to have to negotiate one way or another.
You could be negotiating with an agent, negotiating against other buyers or you could be the one to make a ‘one-and-only standout offer’ that sets you apart from your competition and entices the seller to accept you!
Think of the seller’s situation – You’re going to have a hard time framing your offer in the right way if you don’t put yourself in the seller’s shoes. Sometimes an offer might be close to the right amount but the terms and conditions of settlement may not be. For example, if the seller has already purchased their next property, you could align your settlement date with theirs. To prevent sellers from ending up homeless, having to move twice or face a costly bridging finance, allow for a merging of settlement dates. Another option might be letting them lease the house from you for a brief term while they look for a new home, build or pack their belongings.
Ask good questions – Agents are not going to divulge information about the sellers but you can ask questions to help your situation to discover a better way to negotiate. Try questions like these, “Is there a specific settlement date that the sellers prefer?” or “Can you recommend any stipulations I could provide that would make my offer more attractive?” Another question might be, “Is a pest and building report available?
Be mindful that even after your offer has been accepted it still does not mean the property is yours. Not until you’ve paid your deposit, signed the contract, the seller has also signed and the contracts have exchanged. Buyers who are already pre-approved and have a Pest & Building Inspector ready to fit them in are more likely to secure the property. You might even consider buying the pest and building report that has already been done to speed the process up.
Let me know if you are in need of a mortgage broker, banker, financier, accountant or pest and building inspector. I can also help with conveyancers and solicitors too!