All year we have been hit with headlines telling us how much properties are achieving over home report, how buyers are continuously missing out, how a first time buyer can’t possibly compete with offers at closing dates – the scary headlines go on. Indeed in a lot of instances this has been the case, however there has been a slight shift with some property over the past few weeks and buyers could actually be missing out through not doing anything because they are scared off by what they read in the press.
I understand that as a buyer you read these headlines and think what’s the point in even trying, that there is no chance of securing that property as I don’t have the 5- 10% cash available over the home report valuation – therefore I won’t do anything.
How do you know that’s what the vendor is holding out for? Surely it’s worth a shot as the worst that will happen is that the offer will be rejected.
We had a property on the market recently which had been on for several weeks, was getting viewers but no formal interest. We discussed things with the client and agreed to fix the price at the home report valuation. All previous viewers were informed and within a few minutes of that happening we had a phone call from one of them and an offer was with us within the hour. This was from the first viewer who visited who could have secured the property a lot sooner if only they had tried.
We had the same scenario with another property but on this occasion two previous viewers came forward with an offer once the price was fixed. We had accepted the first offer which was from a viewer who had visited only a few days previous – the second offer which came through but was rejected as someone else beat them to it, was from a viewer from several weeks ago. They could have secured the property before the other viewer had even visited if again they had just tried.
Of course there are still instances when competition for a property is high and premiums are being achieved but if you see a property you like – give it a shot as you just never know….you may secure your dream home.
The information and opinions contained in this blog are for information only. They are not intended to constitute advice and should not be relied upon or considered as a replacement for advice. Before acting on any of the information contained in this blog, please seek specific advice from Gilson Gray.