There are a number of ways to go about purchasing property in Australia. However, regardless of whether you're first home buyer or a potential investor, ensuring you have your home loan sorted is an essential part of successfully securing real estate.
One point to consider is the type of purchase method you wish to use. The two main methods in Australia are privates treaty sales and auctions. Both of them have their pros and cons, so the decision comes down to the type of approach you wish to take.
While auctions have been steadily increasing in popularity over the last few years, private treaty sales still account for the majority of property transactions undertaken in the real estate market.
Private treaty sales consist of sellers placing a price on their home and opening the floor up to private negotiations with various buyers. During this period, sellers can offer another price, which buyers can evaluate and take into consideration. Here, buyers have the opportunity to negotiate the asking price to a lower level.
Furthermore, a number of negotiations may occur at any given moment, which can lead to a degree of competition between prospective buyers.
Furthermore, private treaty sales are often less stressful for both parties involved. This is because auctions often breed heated competition between buyers, which can lead to people getting caught up in the atmosphere and a potential overexertion of funds.
Having that degree of detachment and calmness can allow for a more rational approach to the process, allowing you to weigh up all your options, seek the right advice and – overall – make the best decision possible.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!