A few tips on buying
HOW TO MAKE YOUR BEST OFFER
Obtain Pre-Approval from Your Lender
We often see homebuyers stumble across their dream home before they obtain pre-approval for a loan. Once the loan is then pre-approved, they find that the home has been sold to someone else. To avoid disappointment, speak to your bank or lender about your borrowing capacity prior to your first house inspection. Vendors will consider an unconditional offer in a much more favourable light than one which is conditional upon the buyer obtaining finance.
Terms and Conditions
If you are bidding at an auction, the vendor sets the terms and conditions of the sale. If you require certain terms and conditions, outline your requests to the agent prior to the day of auction. If the vendor agrees, request that the agent obtain written confirmation before you bid. In the case of a private sale, the agent will negotiate between the vendor and buyer to determine the terms and conditions.
Deciding How Much to Offer
Always request a comparable property sales report from the selling agent. This will provide some guidance in ascertaining the price range of the property. Parkes Property produces a free monthly sales report which can also assist in determining your offer. Email us at firstname.lastname@example.org to request a report for the suburb in which you intend to purchase.
Policy on Offers
Prior to submitting an offer, ask the agent to explain their company policy on how offers are handled. Parkes Property provides all buyers with an information leaflet outlining our procedures and processes. We guarantee that once your offer is submitted in writing, the only people privy to it will be the agent and vendor.