Making an offer. Making an offer to buy a property is serious business, so it’s important to be as prepared as possible. Here are five tips to help you negotiate like a professional and seal the deal. Get your finances in order Know your budget and get pre-approved by your bank or mortgage broker. A clear budget helps you understand your limit and shows vendors you are a serious buyer, which can be crucial for quick settlements. Do your local research Research the market by checking the history of neighbouring properties, attend open inspections and auctions, and analyse comparable sales. This will help you understand local demand and secure a property at true market value. Learn the vendor’s motivation to sell Understanding why the vendor is selling can give you an advantage. Factors like timing and sentiment can be as important as price. Building a good relationship with the agent may help you uncover these details. Be prepared to compromise Negotiation involves flexibility beyond just the price. Consider negotiating aspects like settlement length, deposit amounts, existing tenancies, and included fixtures. Identify your must-haves versus your nice-to-haves to guide the discussion. Keep emotions in check Negotiating can be a daunting prospect for buyers and sellers alike. Avoid letting emotions or urgency drive your decisions, as this can jeopardise the deal. Apply pressure only if you are confident in your terms. How can we help? Our experienced agents are here to assist you through every step of the process. They offer expert guidance and effective strategies to help you achieve the best outcome in your negotiations. 12
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