Collings Real Estate, Edit

How to Buy a Home Through Private Sale

March 29, 2021

Shop around

Do as many inspections for as many different properties as you can. Doing this will give you a rough estimate and a guide to what a property’s probably worth.

Arrange an inspection with the agent

Once you get to the property, pay attention to the things such as:

  • the home orientation
  • carports positioning
  • position on the block

These would impact its position in the marketplace.

Ask the agent some questions

Some of the questions you could ask are:

  • How soon does the vendor want to sell
  • Why are they selling the property
  • What is going to take to buy this property today

Put a value on the property

After attending enough inspections and asking the right questions, you should be able to identify the property’s worth. If the agent’s price range and your evaluation don’t add up, make them aware of your findings.

Make an offer

Based on the information you gathered, make an offer in accordance with what you think the property’s worth. To gauge how aggressive your offer should be, ask the agent some questions such as:

  • Has there been another offer made?
  • Are there offers in writing with deposit?
  • Has the vendor accepted other offers?

Related: 4 Key Tips for Making an Offer on a Property

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