Do your research

The decision to buy is a big one. Once the decision has been made to purchase a home, we see a majority of buyers turn to the internet. This can be overwhelming as buyers can be flooded with different types of information, below are a few ways that you can narrow down your research.

 


 

Write Down Your Criteria

We have compiled a list of questions you can ask yourself before you consider turning to the internet for research. These will help you figure out your deal breakers.

• What suburbs are you considering?

• Do you like any of the surrounding suburbs?

• Are local schools important to you?

• How close would you like to be from local shops and amenities?

• What are the dream features of your home?

• Is a garden or balcony important?

• How many bedrooms, bathrooms and car spaces do you need?

• Are you willing to renovate?

Once you have narrowed down your criteria it will be much easier to search for your desired property and you will have a good list of properties to start with.

 


Talk To An agent

Pass your criteria on to agents as they have the technology to set alerts, add inspection times and send updates of properties you are interested in.

 


GO TO INSPECTIONS

 

Set alerts of your preferred open homes. Go to as many as you can to get an idea of how the market is performing. Explore the neighbourhood, check out the competition and other potential buyers.


GET PRE APPROVED

Buying a house is a major investment and its important to make sure your finances are in order before starting the process. Once you have started to gain an understanding of the market, the next step is to start thinking about how you are going to pay for it. The team at Curve Real Estate can put you in touch with the right people to make sure your finances are in order.

 


BUYING

Once you have found the property that meets all your needs, you need to understand the methods of buying. There are a few ways to proceed, but it is best to attend open homes and auctions to give you a better understanding of how the buying process works.

 


PRIVATE TREATY

A private treaty has no specified closing date and is usually negotiated between a buyer and a vendor with the assistance of an agent or legal representative.


Private Treaty

 

A private treaty has no specified closing date and is usually negotiated between a buyer and a vendor with the assistance of an agent or legal representative.

 


EXPRESSIONS OF INTEREST

Similar to a private treaty except that a formal written offer is submitted for the property by a specific date.

 


AUCTION

Auctions are a unconditional sales at a fixed date. You are given four weeks to prepare and then the highest bidder will buy. You must make sure you have a deposit ready, are satisfied with the condition of the home and are pre approved. This way you will have a stress free buying experience.

 


PREPARING TO BID

Before you start bidding, its a good idea to get some research ready. Attend as many auctions as you can to understand how they work and observe bidding behaviour. Begin taking notes of recently sold prices in your desired area so you know what price range to expect.


READ THE CONTRACT

Its important that in your preparation you read through the auction contract so you can get a clear understanding of what deposit is required and what the settlement terms are. As the contract will be unconditional it is best that you conduct your building and pest, due diligence and your finances prior to bidding.

 


BIDDING

It is important to set a bidding strategy. Its easy to get caught up in the moment so you will need to set yourself some limits and goals.

• Consider your top bid and stick to it

• Stand in good view of the auctioneer

• Start with a strong bid and increase by smaller increments

• Don't be afraid to start the bidding

• Record bids so you don't lose track

• Keep calm