Property auctions can be a great place to acquire your next home – if you know what you’re doing.
There are many things you must know and understand before diving into this high-stakes/high-stress process.
Here are some of my best tips. You’ll find one that’s is often overlooked — but not by you — after you read this.
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Yes, there is COVID-19 – but what about the huge demographic shift from retiring Australian baby boomers and its impact on the Australian property market? Will it lead to the collapse of real estate prices?
Baby boomers have at times been equated with the elephant in the (property market) room. There have been widespread discussions about what may happen when this group sells properties in bulk.
Given that there are 5.3 million baby boomers expected to retire in the next 10-15 years, there should be an impact.
Is it a concern or more of an opportunity for property investors?
Let’s find out.
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When it comes to auction bidding, no one knows the lay of the land better than a buyer’s agent. These are professionals trained to sense the mood of a crowd and adjust their bidding strategy accordingly. They also know how to keep their emotions in check and not get themselves embroiled in an emotional bidding war.
If you’re looking to buy property especially for the first time, it’s worth having a buyer’s agent by your side. A professional buyer can help increase your chances of successfully landing your dream home. They can also minimise all matter of risks involved on auction day.
Let’s take a look at the different advantages of hiring a professional buyer’s agent for your next property auction.
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COVID-19 has put a damper on what would have otherwise been a big year for Sydney’s property market. Before the pandemic hit, the real estate industry was on its way to recovery following a disappointing 2019. Forecasters even predicted a 10% growth for the market.
But everything changed as soon as the coronavirus broke out. With the Australian economy struggling, all projections for the industry had to be recalibrated. As bad as things may seem for Sydney’s property market, there’s still a silver lining.
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The ongoing COVID-19 global pandemic has made it a lot harder to Aussies to buy Sydney property these days. People are having a difficult time searching for or buying properties themselves because of the threat of the virus.
If you’re looking to buy in the current market, now’s the best time to hire a Buyer’s Agent. A professional buyer can help you find listings that aren’t readily available to the public. They can also inspect and evaluate the property for you, so you won’t have to expose yourself to the virus by going outdoors.
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A pest control inspection holds a lot of merit. You can easily increase or decrease the value of a property depending on how well you were able to take care of an infestation.
Unfortunately, not all property owners appreciate the importance of maintaining regular pest control. They don’t know whether their home needs to have an annual or biannual inspection, or if they can do it quarterly or half-yearly. This is exactly where an expert’s advice would come in handy.
Learn more about the value of pest control inspection in our latest article. Find out whether your investment property would benefit from a yearly checkup.
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After searching properties and compiling a master list of every property you like, is it ok to attend an open house without a buyers agent?
If you happen to happen upon an open house and you don’t have your buyer’s agent with you, there is nothing wrong with stopping in to take a peek.
But there are a few things you want to be sure to do and some you definitely should avoid.
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Bidding at auction is not for the fainthearted. Unless you are a regular buyer of properties, my advice is to hire a professional buyers agent in Sydney.
Auction sales for properties are fast-paced, nerve-racking, and peppered with many professionals who have one goal, and that’s to win the auction.
Chances are, you have been bidding at auctions roughly a hundred times less than any of the professionals.
Let me share with you some of my methods for winning auction sales.
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