What Do You Offer?

It’s time to make an offer on a property you like.

But how much do you offer?

Domain.com.au tracks the percentage difference between the asking price and the sale price. This is called discounting, and worth looking at.

Suburb Reports show discounting by suburb and time on the market.

If the discounting comes in at 0%, it’s a seller’s market and the prices are moving up and they are likely to get the price they are asking. But if it’s 8%, there’s room to negotiate.

If you see 8%, go in with an offer that’s 10% to 12% lower than the asking price.

Your offer may be accepted if the seller’s motivated. But you have wiggle room to negotiate up to an 8% discount. 

That’s the number you expected anyway. 

Of course, all the other numbers have to add up.

Investors Choice Mortgages can help you figure out how to track the market. We’re doing it right now for a bunch of first-time buyers who want to become investors. Make a time with one of our experts https://investorschoice.com.au/bookacall