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 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
Episode 50: 8 properties by 25: Former housing commission kid reveals how he changed his life and created wealth
Episode 49: How to build a sophisticated multi-property portfolio
Episode 48: ‘From just $2,000 in my pocket to 6 properties’
Episode 47: The SPI Show answers more listener questions: Special episode
Episode 46: 4 properties by 24 – how to build a portfolio without sacrificing fun, travel or food
Episode 45: Special guest Mark Bouris on what really makes property prices rise and when to invest
Episode 44: ‘11 properties by 31, now I’m stuck: What’s next?’
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