How to find the perfect property before it hits the market
Knowing about the best properties before they get into the market can give you an advantage over other buyers when looking for property to buy. Some of the best real estate properties do not get to the real estate listings before selling out; therefore, being ready to go as a buyer can help your position and give you an edge. But the question is, how do you find out about these prospective properties? Here are some tips.
Prepare your finances in advance.
When an ideal property comes up in the market, sellers are most likely to focus on buyers in good financial shape. Admitting to a property seller that you haven't even enquired about your mortgage options instills confidence that you are not a serious home buyer. Therefore get your finances in order before starting your property search.
Register with estate agents
Property sellers are most likely to use real estate agents when selling, so it is best to register with estate agents as soon as you decide to buy property. Notify a local real estate agent of your interests when you start a property search in Burwood real estate.
The best thing about this is that it doesn't cost you anything or create any obligation. It lets agents know that you are searching for property in a specific area, and you don't have to register with one real estate agent.
The more agents you have, the more likely you will receive a call when a prospective property comes up. Also, share more with an agent regarding your choice of property so that they understand your needs.
Avoid being part of a chain.
Many property sellers are afraid of being in a house chain because that means their ability to sell a home depends on the ability of other people they don't know to sell theirs. Being chain-free gives you a competitive edge and puts you in a better position. A first-time home buyer is free of the chain, but there are many ways to make yourself chain free if you already own property.
Use a buying agent
Buying agents help homebuyers find the ideal properties to buy and navigate the buying process. The best part about this is that most buying agents know how to identify prospective properties before they hit the market. However, you have to part with some cash for their fees.
Approach absentee landlords
If you notice empty properties in the area you intend to invest in, it doesn't hurt to approach the landlords and ask if they are selling. Most of them probably haven't decided to sell, and you might prompt them to make the sale. The longer the property has been empty, the more likely you will get a good deal.
Ask friends and acquaintances.
Another way to identify prospective properties before they hit the market is through word of mouth. Ask your friends and acquaintances to keep their ears open for suitable properties on sale.
