Buying Tips

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Selling methods

Private Sale – Fixed Price

A fixed price is simple.  There is a fixed asking price on the property, this price is negotiable, however the asking price is the price a vendor is hoping to achieve.

 

Private Sale – Price Range

A price range can vary depending on the style of the property and what is appropriate for that type of property.  Vendors generally expect offers within the price range that is advertised. 

 

Auction

Price is determined by competitive bidding with the property being sold to the highest bidder on the day.  A property can be sold before or after an auction.  All offers prior to or at an auction have to be unconditional.  An auction is also designed to create a lot of attention in a relatively short term. 

 

For Sale By Tender

This method is similar to the Auction method.  Buyers submit their offer in writing by a certain time to our office – it is a more private way of selling property.  If the reserve price is not achieved then the property may then be marketed for private sale.

 

Market research

Work out what area of town you would like to live in. Remember to check out the proximity to schools, transport, nightlife, shops and other services.

Speak to your local estate agents to gain knowledge of the value and trends of real estate in your preferred area.

Contact your financier or bank manager to work out your financial requirements or capabilities before you set your heart on a property.

If you are looking to purchase an investment property in Bendigo make sure you have done sufficient homework on the type of investment property that suits you and know the current market value for your target property.

It is wise in certain situations to have a building report and/or pest inspection report done on a property before you start negotiating.

Arrange for a solicitor or conveyancer to look at the appropriate documentation before you sign a Sale Contract.

Ask questions.  If you are unsure about something then get the facts.  Buying a home is a huge decision, questions are invaluable in helping you make an astute decision.

Try to limit the number homes you look at.  A good suggestion is to choose a maximum of 10 properties that suit, compare them, and make a decision - you will be much better off.