Buying in a hot market

December 09, 2014
Melanie O'Connell

When market conditions favour sellers, buyers need to engage some smart strategies.

 

One of the fundamental rules of investing is to buy when prices are low and sell when prices are high.

But life isn’t always that clear cut.

If you’ve saved a deposit, or you’re keen to grow an investment portfolio in Campbelltown or Camden, it can make sense to snap up a property now – before prices climb higher.


Be ready to act…fast!

When prices are rapidly heading north, it’s vital to have everything in place so that you can make – and act on, an offer when you find a suitable property.

That means having loan pre-approval organised, and a team of experts ready to act on your behalf including a solicitor or conveyance, and building inspector.


Beat the market

Don’t just rely on publicly available advertising to locate your dream property. Pre-empt the market by:

  •     Speaking with agents in the area you wish to buy.
  •     Explain what type of property you’re looking for and your buying budget.
  •     Leave contact details with the agent.

It can mean snaring a property before it’s openly marketed.


Flex some buyer muscle

Putting any offers in writing – accompanied by a cheque for the deposit, dangles a very tempting bait in front of the vendor (and listing agent) and shows everyone you’re serious and able to act immediately.


For local expertise securing your Macarthur home loan, contact Melanie O’Connell on 02) 4627 7447. 

Posted in: Tips

Contact us today.


Additional Comments? * :