Searching for the perfect property can be a lengthy process and when buyers finally find the home of their dreams it’s important to know what to do to negotiate the best offer.
Universal Buyers Agent property expert Darren Piper said many buyers can fall into a trap of getting overly excited about their dream home and don’t ask enough questions before submitting an offer.
A recent United Kingdom poll found most buyers fall in love and decide to make an offer on a property within 40 seconds of viewing.
“Ask plenty of questions to understand the vendor’s position,” Mr Piper said.
“Why are they selling, why are they motivated to make a move – it could reveal issues with the home or highlight opportunities that could mean the difference between a good deal and a great deal.”
Mr Piper said buyers should also research comparable properties in the area and recent sales prices to see where their dream home falls in the market.
“This is a critical part of understanding the value of the property you are about to make an offer on so you know if the vendor is asking too much and where comparable properties sit in the spectrum,” he said.
“Another way to nail a negotiation is to ensure you ask for clean and short terms, a buyers agent can help you with this process if you’re new to buying or still don’t feel confident setting the terms of a sale.
“Adding time frames can also help to avoid being shopped around.
“And most importantly leave the emotion at the door.”
He said it can be very easy for buyers to fall in love and lose their heads in a negotiation and end up paying too much because they were scared to stand their ground.
“A buyers agent can help you with the negotiation at any stage, whether you need someone to help you throughout the entire search and sale or just to help with the negotiation.
“Get a professional on your side and ensure you don’t overpay on your next property purchase.”
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