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When a property piques your interest

So you’ve attended an open home and a property ticks all the boxes on your list…what now? Well, it’s time to express your interest and start the due diligence process.

Here’s what to do when a property piques your interest…

Make it known

If the past few years have taught us anything, it’s that properties can get snapped up in a flash. And although the market is slightly less frenetic than a couple of years ago, if a property has caught your eye, it’s important to let your interest be known.

In most cases this involves following up with the agent to let them know this is a home that you are interested in and to gauge the circumstances around the sale.

Any questions?

Open homes offer a brief window to look through a property, and chances are you have some additional questions which you may not have had the chance to ask the sales agent on the day.

Now’s the time to reach out with those inquiries, which might cover the history of the property, the reason for its sale, other interested parties, conditions attached to the sale and more.

Another look

If you are keen, it’s a good idea to attend a subsequent open home or organise a private look through the property, and it might also help to bring a fresh set of eyes with you to this inspection.

On the second walk-through, take your time, ask any further questions you need to, look at the property from different angles and cast a critical eye over its condition.

Finance

If you haven’t already lined up finance pre-approval, now is the time to talk to your lending institution and start the ball rolling.

If you’re looking to make an offer on a property or even start negotiating when it comes to price, you should have a clear understanding of the finance at your fingertips and be able to move quickly if you’re ready to take the next step.

Due diligence

Purchasing a property is one of the biggest financial decisions you will make in your lifetime, so it’s absolutely imperative to do your due diligence.

Some of this will be taken care of as part of the conditions of sale, but it’s also important to do your own homework as well.

This includes researching things like:

  • The neighbourhood
  • Infrastructure or future plans for the area
  • The history of the property
  • Any council conditions attached to the property (such as covenants)

An offer

If you’ve lined up your finance and remain keen to buy, then it’s time to make an offer on the property.

This offer will likely be subject to conditions, such as finance, and also pre-purchase inspections such as pest and building.

The agent will then present the written offer to the owners who will either accept it, reject it or seek to negotiate a higher price.

Pre-purchase inspections

Pre-purchase inspections are an absolute must in order to protect your investment and also provide peace of mind.

These inspections should include:

  • A comprehensive pest inspection
  • A complete building inspection

How we can help

If you’re considering buying or selling a property and seeking to understand the current market conditions, why not chat with one of our friendly agents to understand how we can help?

Or feel free to enter your address below to get your instant property estimate.

We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.