{"id":12048,"date":"2017-06-04T07:00:20","date_gmt":"2017-06-03T21:00:20","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=12048"},"modified":"2017-06-04T07:00:20","modified_gmt":"2017-06-03T21:00:20","slug":"video-overcoming-the-fear-of-underselling-a-property","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/video-overcoming-the-fear-of-underselling-a-property\/","title":{"rendered":"VIDEO – Overcoming the fear of underselling a property."},"content":{"rendered":"

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\nTranscript:<\/strong>
\nThe biggest fear for every seller is that they will undersell their property.\u00a0 On the reverse, every buyer is afraid that they might pay too much for a property.\u00a0\u00a0 In a market like this \u2013 the chances of paying too much are high.\u00a0 Many people don\u2019t worry too much about that, because they are getting the property they want and even if they pay a little over the odds, time will take care of that. Mmmmm \u2013 not sure that I agree with that but if that is how you rationalize it \u2013 so be it.
\nBut if you are concerned about paying too much, here are some measures you should take to ensure you don’t overpay for a property? \u00a0\u00a0Firstly – Find out how quickly listings are selling. Ask the agent to prepare a market analysis for you and concentrate on the most recent sales of properties that compare to the one you are looking at.
\nDays on market \u2013 that is the time it takes to sell a property – and the discount levels are two very important market indicators.\u00a0 Both are freely available on the internet.\u00a0 Stay within your financial comfort zone, so make sure you know how far your finances will stretch. \u00a0That means getting pre-approved for your loan. Carefully look at your financial situation now. \u00a0Interest rates might not come down much more, so make sure that you comfortable with the size and kind of mortgage you use.
\nDon’t overpay and hope that a couple of month’s worth of appreciation will make up the difference. Make sure your offer includes a building and pest inspection even if you find yourself in competition. The report you get back is likely to highlight some defects.\u00a0 Don\u2019t let that put you off but instead use it as a lever to re-negotiate the price to allow you to fix any problems.
\nDon’t let the threat of multiple offers scare you off. Rather look at it as confirmation that your decision to buy that particular property was a good one because other buyers can see the value as well.\u00a0 Give it a shot but stick to your price limit. \u00a0Don’t walk away just because the seller gives you a counter offer for a higher price. Counter back even if it’s at the same price.\u00a0 Control your own negotiations by controlling your emotions.
\n 
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\n 
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

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