Top 5 Do & Don'ts At Open Homes
Ask the right questions:
- Why is the vendor selling & what is their ideal timeframe, a long or short settlement or flexible rolling settlement perhaps?
- Can I have a 5% deposit & offer subject to satisfactory finance plus building and pest reports?
- What is the best offer you have rejected to date & what will they vendor sell at today? (crucial question most buyers overlook)
- Is there anything that requires work to the home or unusual contract terms worth discussing upfront?
- When offers are made, do you accept verbal offers to start the process or written offers on contract only? (this can save you time and money spent with solicitors / conveyancers)
With the information gathered from the above questions, buyers are then able to construct an offer at a later date that reduces the negatives that may otherwise penalise their offer. Dig for the answers then dress it up in your owns words to match their needs.
Don't Do This
These questions should be avoided:
- How many contracts out? (Agents will make this up, not too many, not too little - creating competition in your mind straight away)
- How many offers have you had? (whether it’s 0 or 10 offers has no bearing on the outcome and probably made up anyway)
- Does it have to go to auction or can I make an offer? (Agents wants their 4 week marketing campaign, they often don’t want your offer, don’t worry about what they want, you drive this process)
- What are the comparable sales? (Agents will tell you what backs up their high price expectations)
- What’s the market like at the moment? (Of course agents are going to tell you it’s in hot demand)
Knowing what the vendor is after together with your expert knowledge of local property prices means you can confidently make your offer with the ideal terms to suit the seller, whilst priced to perfection to save you money.
Follow my steps to navigate the buying property with speed to land your dream home or investment at the right price. Or, should you prefer to outsource this to Australia’s leading property negotiator, I’m ready to go right now on your behalf, reach out to firstname.lastname@example.org or call Scott Aggett 0400119830.