Experts reveal their tips on how to increase your chances of having an offer accepted over your competitors.
Homebuyers and investors should consider attaching a 10 per cent deposit cheque to a signed contract if they want to increase their chances of having their offer accepted, according to real estate author and buyers agent Patrick Bright.
The EPS Property Search director and author of The Insider’s Guide to Buying Real Estate says one of the basic rules of property negotiation is to begin with a lower offer and work your way up.
Attaching a 10 per cent deposit cheque is an extremely powerful incentive for a reluctant vendor to accept an offer that was lower than the asking price, he says.
“It’s a very persuasive strategy,” Bright says.
“The vendor’s looking at the cheque filled in for the 10 per cent deposit and it can be extremely hard to give back.
“They know they can put their signature on the contract and it’s over.”
“No more open homes, no more bridging finance and no more uncertainty – they can move on.”
Bright’s top negotiation tips:
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