Smart homebuyers setting up for success (case study)
Steve Hartman* | Engineer | Sydney
“Our family is set for an easy move to our dream home in Perth. We couldn’t have done it without Property Wizards and we’re stoked with how smoothly and quickly it’s gone. The buyer’s agent fee is well worth the money and we’d do it again in a flash.” Steve Hartman, Sydney
Steve and his young family were packing for Perth. Steve’s work transfer was a permanent one so he wanted a home where they would be happy for many years, and where their children could thrive. They longed to be near the beach and coming from high-priced Sydney to more affordable Perth, they could afford their dream home.
NO TIME WASTED
Being a busy professional, Steve was accustomed to using other professional services to accomplish important projects and had no hesitation in appointing a buyer’s agent to find them a new home. The Hartmans wanted to be settled in time for the start of the kids’ school semester so there was no time to waste.
Steve’s essential wish was being close to a good aquatic centre as the kids were active after-school swimmers and needed a top-class facility for training. That gave us about 7 primary target suburbs.
Next were the schools, which would also influence their choice of home. So, we researched all the public and private, primary and high schools in the target suburbs. We made up a table of attributes ranging from academic performance to numbers of kids to help with decision making and it will even prove to be a useful tool to our clients in the future.
CLIENT READY TO SUCCEED
Our clients were realistic and helped themselves succeed. 1) They had the right budget for the home they wanted. 2) They had a shortlist of essential criteria and knew what they wanted. 3) They made fast decisions to seize opportunities.
We set about sifting through the properties, examining each against the criteria – which were not just hard facts such as number of beds and baths or age or size of home. Some criteria were descriptive, such as being light and airy, so we really had to understand what our client was looking for and not just tick boxes. This is essential when looking for a home and not every preference can easily be put into words, so we have to be really perceptive.
After discarding hundreds of properties, we started assessing the remaining ones more closely, including a few off-market properties which we eliminated. Our shortlist included 6 properties for consideration and showed 30 properties assessed but eliminated.
The shortlist showed a summary of each property, with pictures, area report, location analysis, property comments and details about the schools.
Our client chose their favourite in an instant! It was also one they had been past when visiting Perth, but they had only seen the outside. So, we set to work to secure it for them.
NEED FOR SPEED
Viewings had been a problem because of a difficult tenant and as a result the price had been reduced considerably. Several buyers were waiting to view and luckily, as an agent, we were allowed to view straight after the tenant moved out.
We knew we had to act quickly to avoid competing with others who would drive the price up. We took many photos and gave our clients an objective picture of the good and bad.
SECURING THE PROPERTY
Our due diligence investigation went off like a dream – everything checked out without a hitch. Our client responded speedily to all requests and the offer was submitted. Using our skills to encourage a fast response, and after late-night negotiations under time pressure we had our acceptance in the morning.
We secured the property for $880,000, to the delight of our lovely buyers. We appraised it to be worth $915,000 and it had been sold for $1,125,000 6 years ago, so there is great scope for upside as the Perth market recovers.
TO PROTECT OUR BUYER
Some of the special buyer protections we put in place
- Pest and building inspections that are more protective than the standard ones
- Ensure everything in good working order
- Ensure any safety hazards are rectified
- Ensure the house will be professionally cleaned and little things fixed – after the tenant left it in so-so condition
- Arrange pool inspector for pre-settlement working order inspection
- Checked the council approvals
- Got a disclosure from the seller about a long list of important details
- Insisted on receiving keys for everything
SAVED BY THE SPECIAL BUYER PROTECTIONS
The special conditions Property Wizards included came to the rescue when our building inspector discovered defects in the roof space. The sellers’ own pre-purchase inspection had not uncovered these faults, so they didn’t know about it and the buyers benefited by a further $10,000 we negotiated in compensation.
THE FUTURE AWAITS
With the successful purchase they had planned for, the Hartmans can now look forward to their new life in Perth in their dream home, relaxed and knowing that it’s all taken care of. They can’t wait to enjoy the beautiful view of the ocean, take walks down to the beach and be close to all the amenities they wanted.
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* Names changed for discretion
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