How much should I offer, when negotiating to purchase a home?
This has to be the number one question we get asked by our clients.
First things first, the advertised price usually indicates the vendors expectations, whether or not these match the market.
Here’s some tips to help you when making an offer;
- Try talking to the agent they should be more than happy to discuss verbally the sale price.
- Do your market research for example: drive around the local area in the day and at night, check the local councils website to find out what the rateable value is
- Request a transcript of local area sales from the agent it may help to show why its valued at that amount.
- Drive past the properties listed on the recent sales transcript, this can sometimes help to show differences between the houses as to location, street appeal, presentation and the type of building. The report also provides some basic information about the property including the floor area, age and number of bedrooms/bathrooms.
- homes.co.nz often lists estimated values of properties in New Zealand, otherwise there are other options for example: making your written offer subject to a registered valuation (this will come at a cost generally around $600-$800 approx.) however its done by a Qualified Registered Valuer whom walks right through the property in order to write a report which determines and explains their reasoning behind the property’s value.
- Remember to take into account any outstanding maintenance or maintenance to be completed into your offer.
- If you believe the house is worth 20k less, tell the agent and your reasons behind it.
- Check out the real estate agent’s authority page for more helpful guides and information.
Most importantly remember to give The Mortgage Girls a FREE non-obligation call on 0800 864 864 or contact us through the following link in order to arrange a pre-approval first so you know and understand how much you have to spend,
Feeling nervous about the whole process?
Think about working with a buyer’s agent to help you from the beginning that way they have your back and can help you with the negotiation process. The Mortgage Girls can recommend a couple of agents whom can help you with the process from start to help find your home.
Give us a FREE non-obligation call on 0800 864 864 or send a message through the following link.