Plum Property Blue Mountains Pre-Appraisal Information Kit

Frequently Asked
Questions
Who determines Real Estate Prices?
Appraisals of property value can vary tremendously. Overpricing is the easiest way to kill a sale.
You should be wary of agents who tell you that they can obtain a much higher figure, knowing that this
will secure your listing. Generally, over time, these agents will suggest a substantial drop in price for
your property. Remember, agents may interpret the market, but they do not create it. It is also important
to remember that many purchasers rely on a valuation of your property in order to gain final finance
approval. If the valuer determines that the purchase price negotiated does not reflect a realistic market
opinion, the purchaser may not be able to proceed.
Plum Property Blue Mountains is committed to pricing properties at a realistic and achievable price.
Our effective marketing strategy, high attention to detail, and always following through are the keys to
ensuring we get the best possible price for your property.
Which method of sale is best for my property?
There are two main methods of selling residential property - Private Treaty or Auction. It is my
recommendation that your property be offered for sale by Private Treaty, the most traditional way of
selling. We simply set a price for which your property is listed for sale, allowing you, as the seller, to
have greater control over the sale and negotiations, and also allowing you the time to consider all offers
by potential purchasers. Many buyers often find this method of sale less intimidating, so your property
generally will attract more buyers.
Why is the first offer often the best offer?
Buyers today are very savvy, and are often very active in the marketplace, looking at dozens of
properties before viewing your home. They wait for new properties to become available, and if one suits
them, they will make an offer based on the sale prices of other properties in the area. Most buyers have
been looking for a while, and have missed out on other suitable properties, so this is why they act so
swiftly and generally make such strong offers!
Should I buy or sell first?
“Out with the old, in with the new”, but which comes first? It’s never an easy call. By selling first, you are
able to wait until you get your desired price with no pressure, and have as much time as you would like.
But, if your home sells faster than you thought, you could face the stress of having to move out while
you look for your new home. Buying first means you can spend plenty of time looking for your next
home, instead of feeling pressured to take the first offer you receive. However, it also means you can’t
determine an exact budget for your new home, and/or you may not get as much as you had hoped for
your existing property, so you will have to make up the difference with either your savings, a larger loan
or you may even need to consider Bridging Finance.
Should I use an agent, or sell it myself?
Selling your property is one of the biggest financial decisions you’ll ever make, so getting a professional
to help you is probably a smart move. You can leave the hard work to them, and you will also have the
legal protection of using an agent. Selling your home privately may also limit your advertising reach, as
major listing portals, such as realestate.com.au only accept professional listings from Real Estate
agents, and private sale listing websites don’t attract nearly as much traffic.
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