How to buy property under market value
“Hello and welcome back to weekly buying tips I’m Dean Berman from Berman Buys.
Today we’re going to talk about how to buy property under market value.
As we’ve previously discussed market value is determined by a willing buyer and a willing seller.
Therefore if you want to buy under market value.
Or the perceived market value in your mind.
It comes down to making an offer to the seller.
We become willing at a certain price and we are seeing if the seller will be willing at our price.
i.e. we are testing to see if they will sell.
In a nutshell, we are trying.
Like shopping at H&M or Uniqlo.
You try on the clothes and see which ones you like and which you don’t.
Making an offer is often like this.
Sometimes it fits well.
Sometimes it doesn’t.
Making an offer is one of the most important ways to find out what the seller is thinking.
It’s especially important for those on a fixed budget.
Or those on the border of being able to afford a specific suburb or property type.
Or just about anyone wanting to maximise their money.
I mean, who doesn’t want to pay less.
There’s no point focusing your time and energy on properties outside your budget.
Rather you could be focussing your time and energy on a property within budget.
Offers will be rejected.
Sometimes agents won’t even get back to you.
And you may have to chase them for a definitive answer.
But at least you know once you have made an offer.
You are in the game.
You are in the running.
Like those lottery adverts.
Making an offer is arguably the single most important part of the negotiation.
Because without an offer, properties will usually sell.
And it will be to the person who made the offer.”