By: Rhiannan Jenkins
You've been searching for a while and come across a property that ticks boxes and you want to make a move. There are a few tips that will come in handy as you work through the next steps and help keep the emotions in check. 🤩
1. Understand the rules of the game. 🧠 There is no point getting excited about a property if it's out of reach so it's important you speak with the agent about the process the agent and vendor want to follow. This means understanding when the owner will seriously consider offers. This is important because you want to time your offer strategically and work through your due diligence to line up with this timeframe.
2. Prepare your due diligence. ✏️ Firstly, you want to understand what due diligence needs to be completed e.g. contract review, building and pest report, strata inspection, pricing analysis etc. Then you want to work backwards and start ticking off your to-do list of due diligence which is thorough and fast enough to be ready for the offer or auction timeline.
3. Communicate. 📢 This applies to communicating with your solicitor, mortgage broker, inspectors, and the sales agent. If you're questioning if it's too soon to bug your solicitor or mortgage broker, it's not. Let them know you're interested in pursuing the property and ask them the recommended next steps from their perspective. The more notice you provide them, the easier it will be to mitigate potential hurdles. Keep close to the sales agent because you don't want the property to sell without you having the opportunity to respond. Let the agent know you're serious and you're taking the next steps (you must book in the building and pest inspection with the agent anyway/the agent will be notified of contract change requests so you may as well provide them with a heads up).
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