Submit the offer that the seller simply can’t refuse
Rejection is the single human experience that links us all - whether it was a job interview, a prom date, or a home loan request, we've all faced it at least once in our lives. To give you the best chance of avoiding this during the final stages of your house hunting experience, regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett, shares his insights into how to submit an offer that the seller simply cannot refuse …
“Before you submit any offer, you need to work out a budget for yourself. Within this, you should set three targets: the highest offer you can afford to make, your ideal offer, and your low-ball offer. Depending on the market and the various other factors discussed below, you can reach a decision regarding which of these three numbers you would like to put forward as your initial offer.”
Clean up your conditions
“When it comes down to it, apart from price, the offer that presents the lowest possibility for the sale to fall through is usually the one a seller goes for. To neaten up your offer, make sure you have pre-qualified bond approval. It also helps if you have already sold your property and have the funds readily available.
If you need to cash in an investment in order to purchase, it might be worth doing so before you find your dream home.”
Know your market
"Buyers should also keep themselves abreast of current affairs and be aware of the kind of property market in which they currently find themselves. If they happen to be in a seller's market, there will not be much room for price negotiations and buyers will have to put their best offer forward if they want to secure the property. On the other hand, if it's a buyer's market, buyers have a little more room in which to negotiate and can go in lower with their initial offers.”
Involve an agent
“Your best bet would be to involve your agent in your decision-making process.
“As industry and suburb experts, they will be able to guide you into choosing an amount that will be appealing to the seller and will still suit your budget.”