Doing the Deed
This could be the biggest thing, the time has come to nail the property.
You are fully prepared and ready to bring the negotiation to the next
level. You have read the contract of sale or vendor's statement, make
sure you know what the inclusions are and also you might want to check
what is not included and some special conditions.
It is also important to decide the holding structure of your property
whether it is for joint owners, multiple owners or a single owner. Now
you might want to end up negotiating a private treaty purchase or
fronting up at the auction.
If you read the newspaper regularly then you must have seen the real
estate section that contains information about the properties for
auction. Auction prices, clearances and tales of sales are featured
prominently for the public to know.
Auction is not the way that the majority of property is sold. In
Australia, particularly in Sydney many properties do go to auction but
in other states only a small minority go to auction.
Auction is a method of sale favoured in 'hot areas' but some believed
that it is also a method that was set up by real estate agents as it was
the most convenient way for them to market well.
If your chosen property is going to auction, just think of the positive
ways this could bring to you. You might able to get the property in a
lower price and you might end up knowing what price the vendor will
accept and how many of your fellow bidders are genuine buyers.
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