But while all this buyer activity is great news for sellers, it can make it tough for those trying to break into the market.
Know the property market you’re buying in
One of the most useful tools in real estate is ‘knowledge’. Knowing what properties are selling for and how desirable they’re likely to be will give you a competitive edge in the market and help you determine a strong price to offer.
Be ready to jump straight in
When you find a property that ticks all the boxes you need to make your moves straight away. Don’t wait for open homes. Call up the agent and try to arrange property inspections as soon as a property hits the market.
This will help give you a head start on negotiations and potentially allow you to buy a property before others get the chance.
Try not to take too long to make your offer if you’re seriously interested. Waiting a few days or weeks could be all that’s needed for someone else to get in before you.
Don’t waste time on lowball offers
We all like a good bargain, but making too many low offers (particularly when they don’t get accepted) could end up costing you in the long run.
As mentioned previously, you need to know your market and what properties are selling for, otherwise you’re likely to spend a long time in the market trying to get your offers accepted.
The longer it takes you to buy, the higher the chance that prices will rise around you and you might find yourself in a situation where you missed out on the real bargains because you didn’t make a serious offer to start with.
Make your offer as irresistible as possible
It’s not always price that gets a buyer over the line, there’s a lot of other factors at play too. Sometimes a seller will go with the offer they see as the lowest risk.
When a seller enters a contract they want to know that there’s no chance of the contract crashing, so if there’s no finance or inspection clauses they might find your offer more attractive.
You need to keep your own interests and limits in mind too, but if you can offer fewer conditions on your offer then it’s worth considering.
Overall, be patient and be ready to make a strong and confident offer when the right property comes along.
If you’re interested in buying in the Bacchus Marsh area then feel free to get in touch with the Arbee Real Estate team for advice.