- Forget about looking for bargains/trying to save a sneaky $5-10k for your budget. The longer you try to play games, the more chances someone with more money will show up. Commit to your budget, don't go over or be cheap by holding back. - take a copy of contract after inspection, allows you to send through a written offer via email on the same day rather than waiting until Monday AM. Helps you get ahead of the interested parties.
- watch out for clauses in the contract, one contract wanted me to accept tenants which are being taken to VCAT by vendor. That's not my problem.
- Set a deadline Monday 5pm & don't settle for any later. Agents will scramble to find another interested party prior to deadline if you put forward an offer they can't risk losing. Being straight after the weekend inspection majority will be caught out.
- also if they reject your written offer & take the risk, the auction will have to start from your figure (as far as I'm aware). Which would drive a lot of people away as they can't under quote to lure people in.
- real estate agent wanted me to put in a written offer 10k less than what I initially said & to hold an auction on Tuesday. Although that could mean $10k less payment, it means he can lure in other buyers and create a mini auction. Told him this is my budget & im not playing any games, if someone offers $1 extra by 5pm Monday they can have it.
- what also helped was that it was an unlisted property soon to be put on market. Real estate agent wanted to gauge market interest prior to advertising. Dropped an offer for a price I knew it would go for before the public even knew it was on the market. He did have some interested parties but they wanted another inspection on Thursday. My deadline 5pm Monday put a stop to that.
No doubt my opinion is wrong & could have saved blah blah doing x,y,z. End of day, I'm happy with the result & the realestate ain't.