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When making an offer on a property where should your initial offer come in at?
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Nadene, Good evening. Thank you for your question. However unfortunately there is no right or wrong answer for what you asking for.
The important thing is to do your own research. As a Mortgage Broker, I have access to an automated valuation system that provides a pretty good guide for most areas right across Australia. I simply need to know the property address and can then give you information on when and what that property last sold for, plus recent sales of comparable properties in that local area.
One key of course is to keep in mind that when you give an offer, it may not be accepted, but what you really want is to be close enough to draw a counter offer to gauge where the Vendor is at. A ridiculously low offer can often be deemed as an insult and the Vendor may choose not to deal with you at any level whatsoever.
If your offers are genuine and within a range of some decent research, you should be able to keep the conversation open. At the end of the day, this is what you are looking for.
Hope this has helped and give me a call if you would like any further specific information / advice.
Best Regards
Ken Olds
Customers First Mortgages & Insurance
1300 ASK KEN (275 536)
www.AskKen.com.au
