Tips for Property Buyers

by

Romela de Leon

Know some effective techniques in home buying so you can assure a victory spot in the bidding wars. Buying property nowadays is a really challenging experience as you often deal with so many people who are also interested in the nice property. Here are some tips on how to be a good property buyer.

Get pre-qualified for a loan.

Don t let the seller doubt your financing capability. Get pre-qualified for a loan in a bank. This way, you always have a better chance of winning the deal than other property buyers without good financial background.

Offer the highest price you can to the seller.

Don t just get pre-qualified, but get preapproved. Offer the highest price that you can afford. Once your mortgage is preapproved, attach a copy of the approval letter to your offer to the seller. You can also make a large down payment then show the documentation of your down payment, an example is a bank statement.

Find out what or who the seller wants.

Get to know the requirements of the seller concerning the prospective buyer. This will give you a clue if you can meet the necessary requirements, and thus save you time and effort. It is not good going after an offer that you cannot meet. You may also work with your agent if the seller is open to compromise.

Give the money deposit the soonest that you can within reasonable terms.

Making the earnest money deposit is both aggressive and effective. It can give you great results. This money is normally part of your down payment, and something you cannot get to be returned in case you back out. This practice gives the seller some confidence that you are serious with the offer. Once the deal is closed, you can negotiate with the down payment value. The most important thing is you have made the money deposit, and that reflects a serious

property buyer

.

Property buying can be a daunting task, but when you re armed with the right techniques and resources, all can go to your advantage.

Prosper Group

is a leading property buyers agent and property consulting firm operating in Sydney, Brisbane, NSW and QLD.

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