Life can be tough for property buyers at the moment. There are seemingly endless inspections of properties that never seem suitable, auction-stress and, sometimes, the heartbreak of missing out.
There’s also the anxiety of gaining loan approval, although with the right mortgage broker guiding you, that stress can be significantly reduced.
You might be surprised by how many buyers behave in ways that make their journey difficult for themselves. Here are some common mistakes they make, and tips on how to avoid them.
- Incomplete contact information
Don’t offer incomplete or false details when attending an inspection of a property. The right information helps agents to respond quickly and keep you in the purchase loop. If you don’t want to be on their list, tell the agent. They have to remove you – it’s the law.
- Focusing on the furniture, not the property
Buyers often get hung up on how a property is decorated and lose sight of the features of the actual property. Ignore the colour scheme, the furniture and carpets and, instead, focus on the property’s attributes.
- The agent is on your side
Actually, no. Agents work and get paid by the seller. They’re obliged to take every reasonable offer to their client but not help you purchase the property at the expense of others. Too many buyers hold an agent responsible when their bid is rejected. Have your finances lined up and then go in with a realistic offer, leaving headroom to increase the bid if required.
- Suspicious of agents
Don’t over-think the role of the agent. Their job is to get the best price for the property for the seller. Some are great at this, others not so much (just like any other industry). You should expect them to behave with integrity and honesty but they’re not going to give you the inside running on a property. Remember, they must pass every reasonable offer to the owner, including yours.
- This article is provided for general information only and does not take into account the specific needs, objectives or circumstances of the reader. Before acting on any information, you should consider whether it is appropriate for your personal circumstances, carry out your own research and seek professional advice.