we will be starting in the next couple of weeks to look to buy our first investment property so how do we find out about the properties laterest valuation and,how much below the listed sale price would you put your offer in at.What conditions would you request in a get out clause?and what are some of the common traps first time investers should be aware of when submitting an offer through an agent.What are some of the strategies investers use to increase there chances for a sucessful bid on a property.
Here are some things that have worked for me:
– Know the values by doing your own research.
– Base your offer on what you believe to be the right price – not a function of discount to asking price.
– If you make an offer, do it in writing and attach a cheque for the deposit amount. It will be taken seriously.
– Ask the agent – straight up – what the vendor's motivations are. Settlement timing, change of circumstances, divorce etc.
Good luck with your search.
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