How to find the true value of a property

How to find the true value of a property

When comparing properties, no two properties are exactly the same. Both might have four bedrooms, two bathrooms, two car spaces, but until you get down into the detail, you don’t really have the ability to properly compare homes.

For example, the age of the property, the location, which way the property is facing, the size of the land all affect is the pricing. These are all fairly obvious things that you would compare.

There is however a lot more to it than that. It’s important to also look at:

The air conditioning, is it ducted air conditioning or is it split system:

  • Does it have a security system?
  • What’s the condition of the kitchen like?
  • What are the appliances like?
  • The carpets & tiles. What condition are they in?
  • The bathrooms, do they need renovating?

There are a lot of factors to consider, and until you really understand all of the finer details of the property you can’t begin to have a comparable price. You might think this property is cheap but when you do all these comparisons, it could come out differently.

A Real Estate agent gets paid by the vendor to get the highest possible price for his client. Who is helping you the buyer, secure the property for the lowest possible price?  Instead of asking for advice on what to offer with the selling agent who is working for the vendors, wouldn’t it be better to have a trusted negotiator negotiating on your behalf helping you get the property at the best possible price?

Another very important consideration is understanding the vendor’s motivations.

Recently we negotiated on a property for a client and knowing the vendors true motivations, allowed us to tailor the offer. We put the right terms and conditions into the contract that got the vendors attention. We weren’t the highest priced offer but we secured the property over seven other competitors. In fact we were actually the third highest offer, but the vendor went with our offer because the conditions suited him.

When looking for properties, there are so many minute, time absorbing details to consider, and then it’s a matter of putting the offer in that the vendor will most like.

For more information on how to do this, or to discuss how we can help you purchase your next property, give me a call on 61 411 888 381 or leave a message here

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