Six top tips for buying a home at a great price revealed
Investment property owners and
first-time home buyers can follow a few simple rules to buy a great home
for a great price, a new report has revealed.
FOR IMMEDIATE RELEASE
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Inner-west real estate sales and property management agent Ian Comyns says there are six key tips that everyone interested in purchasing a property should follow when trying to get a bargain.
1. Tip 1: Research comparable properties
To get the best price for their home, Comyns recommends purchasers find at least three comparable sales to support their opinion of value.
He says that while it is difficult for a purchaser to buy a property at less than market price, purchasers should research property sales in their chosen area to ensure they don’t pay too much for their property.
2. Tip 2: Know the market
Purchasers need to keep up with the real estate market in the area where they want to be, Comyns advises.
The easiest way to do this is by searching recently sold, comparable properties in the area.
“Reasonable sellers know that they must price their properties similarly to other comparable properties in the market if they want to be competitive,”
“Knowing the market like the back of your hand will ensure that you know what the best price for your property is.”
3. Tip 3: Play in a down market
According to Comyns, people who make a lot of money out of real estate always buy when the market is down.
This is because they are more likely to get terms and conditions from a vendor that they would never be able to extract when the market is good.
“If you’re looking to make money out of real estate, buying in a down cycle is the way to do it,” Comyns says.
4. Tip 4: Don’t go for the ‘renovator’
Despite popular belief, houses advertised as a ‘renovator’
“These properties tend to attract far more buyers than renovated properties,”
He advises that purchaser should look at buying something that doesn’t need renovating for practical reasons, but is just not aesthetically pleasing.
“You are far more likely to get a great price for a property that is ugly than one that just needs practical renovations,”
5. Tip 5: Follow auctions
Many buyers don’t realise that buying at auction can often be an opportunity to buy at a good price.
In general, vendors at auctions are more desperate to sell. Purchaser’s following the auction cycle can often find that properties that have been ‘passed in’ can be purchased for a bargain price.
6. Tip 6: Buy by private treaty
If a purchaser is serious about buying a property and they know what it is worth to them they should put it on a contact with a cheque for their agent to give to the owner.
Comyns says it is very hard for a vendor to say no to an offer if the agent has a signed contract and cheque in hand. It indicates that a purchaser is serious about the property and gives the vendor an added reason to choose the offer over competing offers.
To assist investment property owners and home-buyers to negotiate the best price for a property, Exchange Property sales and Management has published a FREE Property Investor Handbook.
The handbook can be download for free from the Exchange Property website.
About Exchange Property Management Company
Exchange property sales and management is an integrated real estate sales and property management agency specializing in Sydney’s inner west. It achieves great sales prices through the application of its five-step sales plan, on-time rents through its energetic attention to detail.
The team at Exchange Property Sales and Management are experts in maximizing a property’s sales or leasing potential, as well as finding that perfect new home to buy or rent.
http://www.exchange-
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| Contact Email | : |
***@gmail.com  | |
| Issued By | : | Ian Comnys | |
| Phone | : | 02 9146 5324 | |
| Fax | : | 02 9146 5324 | |
| Address | : | 5/28 Kingston Road | |
| : | Camperdown | ||
| Zip | : | 2050 | |
| City/Town | : | Sydney | |
| State/Province | : | New South Wales | |
| Country | : | Australia | |
| Industry | : | Real Estate | |
| Tags | : | property management company, real estate inner west, property management services, property management sydney | |
| Last Updated | : | May 14, 2011 | |
| Shortcut | : | http://prlog.org/11490525 |
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