Top Tips for Property Investor

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Top Tips for Property Investor
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Negotiating the Right Property

• The old adage you make your money when you buy
  is paramount in real estate investing, especially
  in the current market, where there is a shortage
  of quality properties up for grabs.
• The only way to do that is to improve your
  negotiation skills so you can compete with other
  buyers and avoid paying too much.

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• Here are the Top Tips for Property Investors

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Learn the Sellers Motivation

• Knowing the reason a property was for sale could
  be useful in knowing how hard you can negotiate.
• Listen out for any hidden signs indicating how
  motivated the seller is, or that the sale is
  urgent.
• You can often gauge much about the sellers
  determination from their counter offers during
  your negotiation.

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The Interest Factor

• Be careful not to appear too keen, as advertising
  the fact that you desperately want a property
  could force the price up. On the other hand, if
  youre interested and intend to make an offer, do
  let the agent know.
• If youre considering other properties tell them
  that also, as it can often cause them to place
  more value on your offer.
• And if they ask how much you intend to offer, let
  them know youll make a final decision shortly
  and will confirm in writing at an agreed time.

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The Selling Agent has the Upper Hand

• Investors should remember that selling agents are
  trained professionals. Unlike most investors,
  they negotiate property deals very regularly and
  have honed their skills over time.
• It pays to remember that their sole purpose is to
  sell the property for the highest possible price
  to be clear, they are working for the seller,
  not the buyer.

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The Game

• While negotiating a discount could provide real
  thrills, there was a real danger of chasing the
  buzz at the expense of a great deal.
• If your research shows the property you want is
  already under fair market value, snap it up.
• Attempting to haggle further or go in low will
  probably just mean you lose the property because
  other informed buyers grab it.

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The Offer

• Knowing what to offer was not an exact science,
  but there are key factors to consider to avoid
  going in too high or too low.
• How you read the owner and agents motivation,
  how many other offers are on the table and your
  assessment of asking price versus value all come
  into play when deciding what to offer.
• And if youre looking at other properties, then
  placing an expiry date on an offer can be useful
  as it can act as a signal to the agent.

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Terms and Conditions

• Many buyers dont place enough importance on the
  terms and conditions of sale, but remember that a
  sellers agents obligation is to propose terms
  and conditions to suit the seller.
• Paying attention to the terms and conditions as a
  buyer can mean, for example, that crucial time is
  not lost between settlement and finding a tenant
  for an investment property.

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Professional Advice

• If the negotiating process is too daunting, or
  investors want to ensure the best return on their
  investment, getting advice from a buyers agent
  is a good option. If the seller has a
  professional on their side, you probably should
  too.
• Property buyers have the experience and inside
  knowledge and know the tricks of the trade to
  help you get the upper hand, thereby negotiating
  the lowest price and best terms and conditions.

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Check These Out!

• Property Wizards is a multi-award-winning buyers
  agency. From finding the right investment
  property Perth has to offer, to researching and
  negotiating the best price, we work for
  Australian property investors and homebuyers, as
  well as overseas and expat buyers.
• We provide you with the advice and assistance you
  need, ensuring you make the right decision when
  you choose to invest in property.
• For more info on perth property development
  companies
• check out https//www.propertywizards.com
  .au