Recently most agents have experienced a flood of new buyers keen to purchase a great property while prices are low. However, the low prices means nobody wants to sell. This causes a shortage of properties and drives up prices as buyers bid against each other.
Therefore, to secure that bargain property ahead of your rival, what can you do? I would recommend following these steps:
1) Get a mortgage agreed in principle before viewing any properties.
This will give you a budget to work to and when you find a property you can offer immediately.
2) Decide what you want and be prepared to compromise.
You will not find a property that ticks every box on your wish list. Make a list of everything you want in order of importance. It soon becomes clear where the compromise lies. Don’t fall into the trap of thinking that there is always something better waiting round the corner (especially now prices are going up). The grass is not always greener!
3) The internet is a good starting point, but it’s only a starting point.
You will not find your home on a website. You need to hit the road before making any decisions and view properties the agent recommends.
4) Make friends with the agents.
With a shortage of properties you need the agent on your side. Give as much information about your search as you can and listen to their advice. You want to be the first person they call when the prefect property becomes available. Also, make yourself available for viewings. If an agent tells you a great property is available from Monday don’t expect it to be there on Saturday. Leave work early, pop out in your lunch break but ensure you see it quickly.
5) Use agents who are members of professional bodies such as NAEA or OEA to ensure you get good service and professional advice.
Happy house hunting.
Toby Ruddle – Sales Manager, Outlook Property