Hi
I’m still very new at this property investing and yet to take the big step.
I am currently looking around for a low entry point to start out on.
I have found a few properties on the net that appear to be have promise but have not yet spoken to the agent about the properties.As the the properties are in another state what are the top questions that I should ask the agent?
Cheers[biggrin]
PS. This forum is great and thanks to everyone that puts there 10c worth in because it could be worth thousands to another.
Hi FWC,
You need to do you own researchg about the property, the area, rentability etc. DONT rely on any info an agent gives you.
But, an agent can give you info about the seller, and this is often critical to getting a good deal.
Ask things like:
“What are the vendors reason for selling”
“Are the vendors motivated to sell”
“What price are they hoping for” (not whats asked)
“Is it currently an investment property” if so “how long has it been unoccupied”
“How long has it been on the market”
“where to the vendors live” (out of the area/city)
“what regions does the agent usually operate” (out of area agents often under-quote valuations as they do not know the area)Ask questions to get a picture of who the Vendor is, what their motivation for selling is and what outcome they are lookig for. This will often put you in a firm negotiating position.
Good Luck[wink2]
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