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Harcourts Active Real Estate Ltd, Licensed Agent - REAA 2008
Hi <<First Name>>

5 Critical Mistakes to Avoid When Making an Offer on Your Next Home...

If you are buying a home in this market it is highly likely you will be in competition with other buyers. When an owner is considering multiple offers, small details can make a big difference. Here are my top 5 mistakes to avoid when making your offer to ensure you have the best chance of securing your dream home!

Mistake 1. Not attaching a hand written note / covering letter with your offer. Every owner loves this and if two offers are very close this can be the clincher. I have even seen owners take the second highest offer because the buyer attached a beautiful letter describing how they "could imagine their future children playing in the backyard" etc. It doesn't have to be long, just thoughtful and genuine (I am happy to help you write it if required). Please note: hardly anyone does this so if you do it your offer really will stand out!

Mistake 2. Not attaching a bank cheque for your deposit. Yes I know it is a hassle visiting the bank and you will lose out on 2/3 days worth of interest, but it makes your offer look extremely attractive. It doesn't even have to be as high as 10%. It shows the owner you are genuine, and serious about going ahead. If your offer isn't accepted your cheque should be returned to you asap without being banked.

Mistake 3. Having long conditions or not doing your research before you offer. We want you to be protected so please don't buy any home without completing the appropriate due diligence (eg. builders report, title search, lim report, valuation if required). However there is a misconception out there that if buyers don't complete their conditions in time they will somehow be punished. If you put down 3 working days for your builders report and the builder doesn't get back to you in time, then you can ask for an extension. The worst-case scenario might be that the owner doesn't grant that extension and goes with a backup offer, but if you put 10 working days down to start with the chances of having the owner accept your offer in a competitive situation are next to zilch anyway! I see buyers miss out on properties every single week because their conditions are too long. Most building inspectors are keen to help and if you ask for a job to be done urgently (eg. within 24 hours) they can usually make it happen. I also often see people that are in a position to make an unconditional offer, instead adding conditions to their offer because "they might as well?" While I strongly recommend you seek appropriate legal and specialist advice before making an unconditional offer - it is a very good way to make your proposal extremely attractive. Owners will often accept an price that is 5k or 10k lower just because it is unconditional. PS: A title search is really important, but can be as simple as a quick phone call to your solicitor. It shouldn't need to be a 5 working day condition on your offer.

Mistake 4. Not using un-even numbers. When I suggest this to people offering they always look at me strangely, so please take note - I am telling you this really does work. Say you are going to offer $400k, don't just offer that amount. A round figure like that looks like it has been plucked out of thin air. Do this instead - On your offer form write down $380k, cross it out, then write down $395k, cross it out, then write down $401,780 (or something to that effect). This seriously works. Another reason for doing this: If you have ever used the autobid feature on Trademe you will understand this example - you would never put and auto bid at just $50, you would always put a little bit more (like $53) just incase someone else is bidding around the same amount. The same principle applies when buying a home.

Mistake 5. Not getting to know the market. The real estate agent should provide you with reports showing recent sales in the area that may be useful as comparisons, along with an extra report if requested showing the last 30 sales in that suburb, giving you average sale price compared to RV (a very useful number to know!). How can you make an informed decision on price if all you know is the RV??
Example report 1
Example report 2

If you would like to discuss your buying plans at anytime I am available to help. You can contact me on 0800 286 686.

Regards,
Andrew Duncan - 027 428 6686
Award Winning Salesperson, 2007 - 2013
Harcourts Northern Suburbs Specialist

SALES INFORMATION:
47 Lakewood Avenue, Churton Park - SOLD $500k RV$455k
2 Satara Crescent, Khandallah - SOLD $522k

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Quote for the week:
"If you don’t like something, change it.  If you can’t change it, change the way you think about it."
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NEW TO THE MARKET...

8 Neston Grove, Churton Park
Large Modern Family Home. 5 bdrm, 2 bthrm, huge living areas with double internal access garage. Ready to move in and enjoy. RV$650


31 Hawtrey Terrace, Churton Park
Modern 4 bdrm, 2 living areas, 2 bthrm with double garage. RV$520k

COMING SOON...
27 Link Road, Newlands
Immaculate 3 bdrm plus study home with internal access garage.  RV$410

LAST CHANCE...

10 Archbold Street, Newlands
3 bedroom first home or investment in a great location. Plenty of potential to add value and build your equity. RV $345k.

AFFORDABLE FIRST HOMES...

18A Robert Street, Newlands
Great First Home. 2 bdrms with closed-in carport.  New carpet and recently repainted throughout.  RV$225k.


31 Sunhaven Drive, Newlands
Affordable First Home.  90 sq m 3 bdrm with garage. Free Hold Section RV$325

6 Buccaneer Place, Grenada Village
Must be sold. 3 bdrm first home with garage.  Enquiry from $355k


46A Ohariu Road, Johnsonville
Rare opportunity in this price range.  Motivated Sellers.  Very affordable first home. 2 bdrms with garage.  Enquiry from $245k

INVESTMENT PROPERTIES...
1/28 Rotoiti Street, Johnsonville
1 bdrm home. Currently rented at $220 per week. Walking distance to shops and public transport. By Negotiation, RV $190k

LAND...

180D Helston Road, Paparangi
744sqm section in a quiet cul-de-sac


147 Helston Road, Paparangi
522sqm section back from street
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CLICK HERE TO VIEW ALL LISTINGS FOR SALE (Now showing up to 19 photos per property)
 
Remember if you see any Harcourts property you like, let me know and I can show you through it personally or register you for the open home. You can call or text me on 0274 286 686 or reply to this email. 

Real Estate Agents Authority buying & selling guides:
Buying Guide (English)
Selling Guide (English)

HARCOURTS TENDER FAQ's Advice sheet
10 Archbold Street, Newlands
3 bdrm, 1 bthrm weatherboard home in a great street with plenty of potential. RV$345k.
BY APPOINTMENT

46a Ohariu Road, Johsonville
Rare opportunity in this price range.  Must be sold.  Very affordable first home. 2 bdrms with garage.  Enq from $245k
OPEN: Sun, 2 - 2.30pm

6 Buccaneer Place, Grenada Village
Must be sold.  Affordable 3 bdrm first home with garage.  Enq from $355k
OPEN: Sun, 3 - 3.30pm

Are you getting the best deal from your bank??

A small difference in interest rate can save you thousands - Working with my personal mortgage broker has helped many of my clients get the best possible finance through their superior knowledge of bank criteria, lowest interest rates, and their ability to obtain fast approvals. They is often able to help clients of mine get a better deal from their own banks even when they are already pre-approved! This service is free, and without obligation. Click here to get a second opinion

Thinking of Moving to Aotea / Whitby?

Talk to Marty Ritchie: With unbeatable knowledge of the current market and building process - Marty has helped many of our clients make a successful move to the Whitby / Aotea area. Call Marty on 027 548 0480 or visit: www.martyritchie.com 
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