podcast

How to get your offer to purchase accepted on the spot

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Charles Tarbey, Owning and managing director, CENTURY 21

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If you're considering making an offer to purchase a property, there are a few things you can do to beat other potential buyers.

When you're negotiating to purchase a property the most important part of the transaction is you need to be ready. You need to be in a position to sign a contract there and then. Most of the important transactions are done on the spot and if you want something to happen, you need to be able to say to the agent that you'll sign a contract now at a set price and pay the largest amount of deposit you can. If I were to pay 10% deposit, that's showing that I'm serious. So if I say to the agent "I'll sign a contract, I'll pay the 10% now, you go and present my offer today or I'll wait in your office while you do it", that has a very, very powerful message to the seller. And the seller then knows that if they are willing to sign a contract on that spot, they're going to get a result today.

Listen to other instalments of The Smart Property Investment Show:
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
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