I recently attended an open for inspection and fell in love with the home. Unfortunately, there were many other people vying for it too, and I missed out. What should I do next time to make sure I secure the property I want? Simone P, Port Macquarie.
A. First and foremost Simone, you need to be totally prepared. This means having your finance approved and ready to go and your deposit available on the spot.
Being in a position to act swiftly and confidently is what sellers and agents are looking for. Whether you are paying the asking price or you want to haggle the price, the offer of paying the deposit immediately is both a strong enticement and a sign of good faith.
Choose the people you want involved in pre-purchase pest and/or building inspections and let them know you may need them to act quickly. The experienced operators understand the pressures involved.
You also need to establish a relationship with the conveyancer/solicitor. My advice is to select an experienced person you feel comfortable with and who has agreed to be ready to assist you promptly.
The only way to bind the agreement with the seller and avoid them selling to someone else is to pay the deposit and effect an exchange of contracts. Hence, having your deposit readily available and your support people ready to act is an essential part of being a serious and successful buyer.
With the right preparation and good teamwork, you’ll be in a strong position to win the race next time Simone.
Answers are general comment, and readers should always seek their own independent professional advice.
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Greg Trembath is Principal/Licensee at
Greg Trembath Real Estate.
Licensed Real Estate Agent – Licensed Auctioneer.