Buyers Should Seek Independent Property Advice
About 1 Year, 11 Months, 2 Weeks, 2 Days, 15 Hours, 14 Minutes ago.
As Valuers we see day in and day out people overpaying for a property because they have not understood the market or they have become emotionally attached to the property and have paid a premium. By seeking an independent valuation it will provide you with a value of the property, providing you with a better ability to negotiate and avoid the disappointment of paying too much.
The current property climate is improving and with this positive sentiment comes competition. For this reason it is very important to ensure you do your research before jumping in. By having a valuation done by a property expert who specialises in the local region, you will be able to gain an understanding of the value of the property for a small cost that could literally save you tens of thousands of dollars.
Market conditions are making it difficult for sellers to accurately price their property and with the increase in auction campaigns, Buyers need to ensure they are confident that what they are paying is within the value range that the bank will support. By having a valuation complete it will ensure that when you get to auction day you will not pay above the value the bank valuers will support, but it could also assist you in making an offer prior to auction putting you one step ahead of your competition.
If you’re looking to buy a property, you will no doubt have seen that when a property first hits the market it is generally listed with an optimistic price and over time, if there is not enough interest, the listing price is reduced. This is generally because a selling agent has suggested to the seller to try a higher price to see if they can secure a buyer who thinks they need to be quick to purchase. This is just another example of where a valuation can potentially save you a substantial amount of money and also provide you with additional bargaining power with the sellers.
If you’re thinking about buying a property, be sure to get a valuation completed first or work with a property advisor who is a valuer and can provide you with confidence that you’re not paying above market value.