You are ready to jump into the property market and eager to put an offer on a house but don’t know where to start.
Before making an offer
Research – Know the area you are want to buy in, lookup recent sold properties in the area to get an understanding of the market you are buying in.
Limit – Know your purchase limit, best to discuss this with your broker prior to offer.
Rules – You should always put your offer in writing, this will eliminate any confusion and ensure you it actually gets to the seller. This avoids Agent pre-qualifying your offer.
Advice – You are encouraged to have your written contractual offer perused by a solicitor before signing. This will assist in understanding YOUR obligations under the contract.
Relationship – You will be dealing closely with the agent; build a good relationship with the agent, be honest and let them know you are genuine
Valuation – You can pay for a valuation prior to making an offer if you are unsure how much the property is actually worth. This is very common for Private Treaty purchases (ie Family / Relative)
Deposit – If your offer is accepted you will need to provide a deposit within 48hrs. You can use this deposit to your advantage in negotiating a better price. Vendors are generally more enthusiastic about offers with significant deposit, and shorter Finance Terms.
Be ahead of the game and arrange for a pre-approval, this will give you a better advantage to secure the property you want quicker. Pre-approvals usually last 90days and gives you confidence of knowing how much you can spend.
Give Mortgage Choice in Bundall a call today on (07) 5504 5569 or email at firstname.lastname@example.org . Like our facebook or google+ pages for daily information:
Watch for our blog later this week on tips for purchasing at Auction.