Spring traditionally witnesses a surge in property sales, and the trend appears poised to continue into 2023. During the initial week of spring, over 2,400 properties were slated for auction, marking a 13 percent increase compared to the same period in 2022.
With property prices on the rise in recent months, it’s essential to master the art of negotiation if you’re hunting for a great deal this spring. Read on for our expert tips:
Tip 1: In-Depth Research
A profound understanding of the local property market can be a game-changer. It empowers you to make offers or bids with confidence. We offer an array of detailed reports to provide valuable insights. Whether you seek specific suburb data or an estimated property valuation, we’re here to assist.
Pro Tip: Utilize CoreLogic’s weekly Auction Market Previews, a valuable tool offering timely updates on market shifts.
Tip 2: Financial Preparedness
Being financially prepared when the right property surfaces can set you apart. Initiate discussions about pre-approval with us now. Pre-approval not only boosts your confidence during price negotiations with sellers but also gives you an advantage over other buyers who lack pre-approved finance.
Tip 3: Understand the Seller’s Motivation
Gaining insight into the seller’s motivations for listing their property can give you an edge in negotiations. What settlement terms and deposit requirements would be most appealing to them?
Are they relocating for work? Could they be open to price adjustments for a smoother settlement process? Sometimes, offering a slightly larger deposit can enhance the attractiveness of your proposal. Engage with the real estate agent to gather such insights.
Tip 4: Prioritise Property Inspections
Never underestimate the value of comprehensive building and pest inspections. They can uncover potential property issues that become pivotal during price discussions. In the presence of significant concerns, findings from the inspection can serve as leverage to negotiate a lower sale price.
Let’s Get Started
If you’re in the market for a property purchase, reach out to us to arrange your finance pre-approval. This proactive step sets the stage for securing an advantageous deal this spring.