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11 Common Problems for Buyers
Below we list 11 common problems that buyers may face when purchasing a property on their own.
We take all of this off your hands. We deal with the selling agents and negotiate the purchase price based on comparable sales research and our expert knowledge of the Australian real estate market. This allows you to purchase with confidence and take the emotion and stress out of the buying process.
Because our full time job is securing a property for you, we are inspecting homes and talking to real estate agents while the buyers you are competing with are at work or running the kids around to weekend sport. Through our extensive real estate network and respectful relationships with selling agents we have access to off market and pre market deals. This means that you can be introduced to properties before the competition, giving you the chance to get your offer in first. By doing a comprehensive market analysis we can advise you on the right price to offer for the property. You can have the confidence of knowing you are making a good offer without overpaying, increasing the chances of securing the property.
This is not uncommon but it doesn’t need to be that hard. If you have been looking for 6 to 8 weeks and haven’t been able to make a purchase something is possibly going wrong. Maybe you are not getting through enough properties, selling agents may not be taking you seriously, maybe you are having trouble determining the right price to pay, perhaps it is taking too long to exchange contracts, sometimes it can come down to a buyer being a little unrealistic with their expectations. We can assist you in all these areas and help take the emotion out of your purchasing journey so you have clarity around what you want and where you are most likely to secure the right property at the right price.
Contact us for a free consultation or just have a chat to discuss your real estate goals. We can take you through our seven-step process and help you on your way to achieving your real estate goals.
That’s why we exist. We are experts in buying real estate and are here to help and guide you through the entire process.
You’re not alone. Life is incredibly busy these days. Because we are full time property buyers, we are immersed in the property market all day, every day. We are able to draw on our extensive network and leverage off our established systems and processes to ensure we secure the right property for you at the right price.
We manage the whole process for you. We will liaise with your solicitor and financier at your request, we can arrange pest and building inspections and any other pre purchase reports that may need to be completed. We can assist with estimates for renovations if necessary.
This is a very real concern for many people when they are “going it alone” in their property buying endeavors. It is hard to know whom to trust and while we know many trustworthy selling agents, the fact of the matter is they represent the vendor, not the buyer.
Real estate agents have a fiduciary duty to their clients; this means they must act in a way that will benefit their clients, for the selling agent this means selling the property at the highest possible price.
At Sterling Property Buyers, we are licensed real estate agents as well and our fiduciary duty is to our client, the buyer. This means we are obligated by law to work very hard to represent the buyer’s best interests, which includes purchasing the property at the best possible price.
In short, you can trust Sterling Property Buyers to represent your very best interests in your real estate acquisitions.
This is the million-dollar question every property investor wants answered. It is important to remember that real estate investing is not an exact science, nor is it a get rich quick scheme and unfortunately no one has a crystal ball to predict the future with 100% certainty.
Having said that, there are significant fundamentals, data and statistics relevant to every property market that can give us very strong clues about how well a particular market may perform in the future. This data can be analysed to choose locations that have very good potential for capital growth and increases in rental returns over time, which is what all investors should be seeking.
At Sterling Property Buyers we complete comprehensive data analysis considering over 20 metrics to determine the best locations to purchase within. This data includes sales volumes, vacancy rates, rental yields, rental growth, vendor discounting, days on market, auction clearance rates, demand verses supply ratios and many more.
We also have access to comprehensive market analysis reports for every Australian property market including all capital cities and regional areas in every state and territory.
This gives us detailed information about the local economy, demographics, population trends, infrastructure spending, employment prospects, transport networks, medical facilities, education hubs, livability and future growth prospects for the areas we are considering buying into for ourselves and our clients.
Analysing the available data enables us to choose locations that are well placed to have strong future capital growth with high rental demand and rental returns, which is what you want as an investor.
This will depend on your property goals and your overall investment strategy.
Whether you purchase a commercial or residential property it is important that the building itself is sound, well located and desirable for tenants to lease so that you will not have extended vacancies.
You will need to consider what your priorities are in terms of your investment strategy. Do you want a set and forget investment? Is cashflow more important for you than capital growth or do you wish to achieve a balance of both? Do you want an investment that you can be actively involved with to add value via a renovation, subdivision, or adding a granny flat for example?
One of the first things we do is ensure you are market ready. This means having your finance in order and where possible a lending preapproval in place, that way you know exactly what your budget is. Paying proper attention to this critical detail ensures that when the right property comes along we can act quickly and seal the deal confidently. One of the main reasons sales fall through is because the purchaser could not get their finance sorted in time.
A good mortgage broker and accountant are essential members of your team and we can put you in touch with reliable brokers and accountants if need be.
There is nothing more frustrating for a buyer than to spend weeks or months searching for and negotiating on a property, and when they finally have an offer accepted, discover they cannot complete the deal because their finance falls over. It’s enough to make you cry!
Put first things first and don’t even think about looking at properties until you have spoken to your buyer’s agent, mortgage broker and your accountant.