Tips for buying
The key to successfully buying real estate is to arm yourself with as much knowledge about real estate in your area as possible.
This can be done by talking to your local Real Estate Agent or real estate salesperson, by regularly reading property pages and publications such as Property Press, going to open homes and by researching property on internet sites.
What price do I have to pay to buy the property?
This is the price YOU are prepared to pay, and the vendor will accept, bearing in mind that other buyers may have different ideas regarding the value of the property. It is sometimes prudent to fix a figure you would pay to secure the property, but also a higher amount just in case.
What does Multiple Offers mean?
Occassionly a property comes on the market that has a number of buyers interested in putting in offers. When this situation happens, all parties are advised that there are others willing to put an offer in and all parties are asked to sign an acknowledgement of this.
When you put your offer, your agent will suggest that you put your best offer in as we do not disclose to anyone but the seller what each offer is.
It is then up to the seller to accept or reject the offers. If your offer is not accepted and another offer is accepted, you will not be given another chance to put an offer in. Sometimes, non of the offers are accepted and the seller will ask the agent to go back to the buyers and ask them to either put in another offer or withdraw.
Sometimes it is not the highest offer that wins, the less complicated the offer the more appealing to the seller. Sellers are more inclined to accept offers that are not conditional upon the sale of another property, or can settle at an earlier date, has shorter time for finance and or inspections conditions, a situation where they are assured of an unconditional contract in the shortest amount of time.
Before signing any agreements, both the buyer and vendor should seek legal advice.