1. Research the market value in advance
When it comes to the sale price, it pays to do your research. Knowing the correct market value of a property will allow you to negotiate the price with confidence. Speak to your broker to access a property and suburb profile report which will provide valuable insights so you can make a fair and educated offer that reels the vendor in, whilst avoiding overspending.
2. Know your ceiling price
Before you begin negotiating, it’s important to know your spending limit. The easiest way to find out is to speak to your mortgage broker who can research your borrowing power. This is the amount a lender may be willing to let you borrow, given your personal financial circumstances.
3. Be confident of your finances.
4. Understand seller’s motivation: find out why the vendor is selling. If the sale is time sensitive you may be able to offer a shorter settlement period for discounted price.
5. Use your building and pest inspection report as a negotiation tool:
If your building and pest inspection come back with few surprises, it may give you leverage to get the vendor to lower the price.
6. Speak to your Conveyancer:
Sending Contract for sale for an insight review can crucial in allowing you to negotiate , amend or add some terms can give you peace of mind.
Call us to see if you are entitled to free Pre Auction Contract Review. Our phone number: 02 9601 1392 or Mob: 0420 685 856