{"id":5330,"date":"2015-08-06T12:00:32","date_gmt":"2015-08-06T02:00:32","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5330"},"modified":"2015-08-06T12:00:32","modified_gmt":"2015-08-06T02:00:32","slug":"preparing-to-buy-quickly-john-mcgrath","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/preparing-to-buy-quickly-john-mcgrath\/","title":{"rendered":"Preparing to buy quickly – John McGrath"},"content":{"rendered":"

Preparedness can make or break your ability to snap up those great homes before they are sold out from under you.<\/strong>
\nIn his recent column in\u00a0Switzer<\/a>, John McGrath gives some great advice about the need to move quickly – and how to do it.<\/p>\n

Here’s what he had to say:<\/h4>\n

When you\u2019re a buyer trying hard to get into a hot market \u2013 and new listings are being sold within an average of just nine days, you\u2019re facing up to a challenge.
\nThat\u2019s why it\u2019s important to prepare yourself to move quickly when a suitable new listing hits the market.
\nBefore I get into my best tips for doing this, let’s have a look at some pretty amazing stats from CoreLogic RP Data canvassing average selling times across the capital cities right now.
\nAs you\u2019d expect, it\u2019s a \u2018hot market\u2019 scenario in Sydney.
\nNine days is seriously fast but that\u2019s the average selling time for apartments in Constitution Hill near Parramatta in western Sydney.
\nIt\u2019s 12 days for apartments in Rosemeadow near Campbelltown in the far south-west as well as in Jannali in the Sutherland Shire down south.
\nHouses are selling fastest in Acacia Gardens near Blacktown in western Sydney, where the average days on market is just 16.
\nIt\u2019s followed by Kareela in the Sutherland Shire at 17 days and Werrington near Penrith in western Sydney at 18 days.
\nCoreLogic RP Data senior research analyst, Cameron Kusher points out that rising home values, low interest rates and short supply in many areas is creating a level of urgency among buyers that will keep average days on market low for the foreseeable future.
\nCheck out the tables below to see the top five fastest selling suburbs in each capital city for both houses and apartments.
\nThis information is based on private treaty sales in April 2015.<\/p>\n

So, how do you prepare to buy quickly in a hot market? Here are my top tips:<\/h4>\n
    \n
  1. Get your finance pre-approved. You need to be 100% sure you can pay for the home before you make an offer.<\/li>\n
  2. Have your solicitor and building\/ pest inspectors ready to go.
    \nUnder no circumstances should you sign a contract of sale before you\u2019ve had the appropriate legal advice from your solicitor.
    \nUnlike an offer, a contract is a binding document.<\/li>\n
  3. Create a list of your non-negotiable features and stick to it, so you can quickly sort through new listings<\/li>\n
  4. Attend the first inspection, which might be a midweek open.<\/li>\n
  5. Contact agencies individually and ask to have your contact details put on their buyer databases.
    \nThis is much more effective than simply signing up for new property alerts on the major property portals.
    \nOf course you want to do this too, but being on individual agency databases means you will probably get early notification of a new property BEFORE it is displayed on realestate.com.au or domain.com.au – and that\u2019s a significant advantage.<\/li>\n
  6. Build relationships with the top selling agents in the areas you are targeting.
    \nIf you position yourself as a serious, ready-to-go buyer, they will keep you front of mind.<\/li>\n
  7. Don\u2019t play games with offers. Low-ball offers are a waste of time in a rising market.
    \nLook at recent sales of similar properties and make a good, solid first offer to get the ball rolling.<\/li>\n
  8. If the property is scheduled for auction, tell the agent you are interested and want to be kept informed.
    \nMany properties are selling prior these days so you want to make sure you are included in any pre-auction negotiations.<\/li>\n
  9. Most states allow a cooling off period on private treaty sales, so you can move quickly and back out if you change your mind or find out about any problems with the deal.<\/li>\n
  10. When making an offer, put it in writing and mention that your finance has been pre-approved.
    \nVerbal offers come and go but a written offer shows a higher level of commitment.
    \nTo further demonstrate how serious you are, sign the contract and attach a deposit cheque.
    \nThe agent can\u2019t bank the cheque until the vendor has exchanged contracts with you.<\/li>\n<\/ol>\n

    Follow these tips and you\u2019ll be well placed to snap up the next great property that comes along.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Preparedness can make or break your ability to snap up those great homes before they are sold out from under you. In his recent column in\u00a0Switzer, John McGrath gives some great advice about the need to move quickly – and how to do it. Here’s…<\/p>\n","protected":false},"author":176692471,"featured_media":4933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-5330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story"],"yoast_head":"\nPreparing to buy quickly - John McGrath - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/preparing-to-buy-quickly-john-mcgrath\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preparing to buy quickly - John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Preparedness can make or break your ability to snap up those great homes before they are sold out from under you. 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