Property 101: David Morrell's top ten property tips

Property 101: David Morrell's top ten property tips
Property 101: David Morrell's top ten property tips
GUEST OBSERVER

Here are my top ten tips for investing in property.

Gauge the level of interest in the property

Auction strategies depend on what the auctioneer does, how other people bid, if there are other people bidding at all, what the level of genuine bid interest is, and, of course, how many dummy bidders there are.

Real estate agent review checklist

When buying by private sale, find out how good the estate agent you are dealing with is as a negotiator.

Three property auction strategies

Once you have carried your research out on the property you can use various auction strategies to put yourself in a winning position.

How to deal with aggressive bidders at auctions

Sometimes in an auction you will strike aggressive bidders.  In this case it's no good if both parties keep throwing in bids aggressively.

Three negotiation tips for passed in property

You have done your research on the property, used the appropriate auction strategies, and the property has been passed in to you. Here's what to do next.

How to draw out negotiations

The longer you can draw out negotiations during a private sale, the more information you will be able to get, and the more desperate the agent will become.

Four steps to value property

For real estate, knowledge is king. Lack of knowledge will cost you money because your inexperience will encourage you to pay more than the property value.

Real estate agents are _______

The agent is one of the unpredictable factors in the real estate equation. According to some people; real estate agents are scum, useless, liars, crooks. 

How to review a floorplan

A floorplan is the 'bones' of a house. Your floorplan also has a large bearing on your 'exit strategy' when you decide to move on.

When there is only one genuine buyer

Sometimes you can work out that you are probably the only buyer interested in the property and that the vendor has a very high price expectations.

 

David Morrell is director, RealAs.

Tags: 
Auctions Property Investors

Comments

Be the first one to comment on this article
What would you like to say about this project?