OUR CLIENTS INVARIABLY FALL INTO ONE OF THESE CATEGORIES:
- Owners Occupiers (Down Sizers, Up Graders, First Home Buyers).
- Investors.
- Self-Managed Superannuation Fund (SMSF).
- Expatriates.
Let’s say you find a property you wish to buy – be it an investment property or your home. The asking price may be $1,000,000 but the selling agent will close the deal with you if you are willing to pay $985,000 – an amount that you probably have already been pre-approved for by your lender.
But, is the property really worth that amount? Will your lender finance the purchase?
If your proposed $985,000 offer is $85,000 more than the fair market price, then your lender might not approve an unconditional loan to buy the property.
Question:
Do you walk away after spending week-nights short-listing properties and Saturdays inspecting, during which time you have become emotionally attached to the property, only to have your hopes dashed
OR
do you take out a personal loan to bridge the additional required finance?
Even a home is like an investment property. One day you will be selling it.
By over paying for the property, you could find that the property few years later when you decide to sell it, is still catching up with the real estate market. Obviously you will be disheartened when the selling agent proposes a price equal to or less than what you have paid for.
Do not forget your acquisition cost is not limited only to the purchase price; there is the stamp duty, there are legal fees and there are the due diligence expenses which are all incurred when purchasing the property. Some of these are actually dependent upon the purchase price, including stamp duty and loan repayments.
Similar to other assets, you really make your money when you buy the property not when you sell it.
You find the property and our property appraisal service will help you determine the fair market price.
Our property appraisal service is ideal for the buyers who wish to find a property and conduct their own negotiations but do not possess the necessary market knowledge to determine the fair market price and the best terms and conditions for their chosen property.
Our property appraisal report:
- details our inspection of the property and compares the specifications with your requirements;
- includes a comprehensive market research to determine fair market price and best buying terms;
- comments on the building, pest and strata search reports you make available to us;
- provides you with the necessary knowledge to enable you to conduct your own negotiations successfully.
