Best House, Least Money: Win the Negotiation

Be ready for your new purchase

Price is only one bargaining chip in a negotiation, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of the settlement period, are critical to a seller.

In years past, buyers were 'pre-qualified' by a lender. This means you spend a few minutes on the phone while the lender asks you a few questions.

Today, the stronger way to make an offer is to get 'pre-approved'. This happens after all information has been checked and verified. You are approved for your loan, and the only loose end is the valuation of the property. This takes anywhere from a few days to a few weeks, depending on your situation. Pre-approval is a powerful tool, and it is one I recommend all my clients have in their negotiating process.

Selling your home

It is only natural to want the highest sale price possible for your property. There are a few tried and tested ways to get that little extra value from your home. They simply require a little planning.

Create a great first impression and paint a mental picture for prospective buyers. You will have the best chance of selling quickly and for the best price.

1. Tidy up your garden

This is the first part of your property that potential buyers will see. It won't cost much to buy new soil, shrubs and ornamental features, but it could be the difference between selling quickly and months of stress. Boost the street appeal and draw buyers in.

2. Clear away clutter

Prospective buyers can't picture their own furniture and belongings in your home if your possessions are strewn everywhere. Create open, uncluttered living spaces, and let buyers use their imagination.

3. Get out your toolbox

This is the time to catch up on the little jobs you've been putting off. You might need to replace some tile grout in the bathroom, or the rotted wood around the house may need long overdue attention. Pay particular attention to light fixtures, cabinets, sinks and bathrooms, and repair any chipped or damaged areas.

4. Give your property a fresh coat of paint

Most people won't realise you have just painted, but they will notice that the property looks fresh and new. Stick to neutral colours, as they can make spaces appear larger and let buyers visualise their own décor.

5. Check all of your doors and windows

Consider energy-efficient replacements. If replacements are not an option, make sure all doors and windows fit and open properly, and are free from cracks and damage.

6. Make sure your kitchen is inviting

A kitchen is not only a functional space; it is often the hub of family life. Make it warm and inviting, and it could secure your asking price on its own.

7. Make sure your bathroom sparkles

Most prospective buyers will forgive an ageing bathroom, but very few will forgive a dirty one. Spend some time on small repairs, and more importantly, make sure everything is clean.

8. Make your property ready to move into

Particularly if your home is attracting first-home buyers, a home that can be moved into without major renovation, decoration or repair could give your property the edge over others in the area.

9. Furniture

Borrowed or rented furniture that adds a touch of luxury can create an overall feeling of opulence, even in the most modest homes.

10. Select a great real estate agent

Finding the right agent in your area is critical to selling quickly and for the best price. The choice can be bewildering, and there are many factors to consider.

Consider a For Sale sign

Seriously consider a 'For Sale' sign. Signs sell!

Play the game of nines

Before house hunting, list nine things you want in your next home, then list nine things you don't want. Use this list as a scorecard to rate each property you see. The one with the highest score wins. It keeps things in perspective when you are comparing dozens of homes.

Keep in mind the difference between the 'bones' and the 'skin'. The bones cannot be changed: the location, view, size of the lot, noise in the area, school district and floor plan. The skin is easily changed: surface finishes like carpet, wallpaper, colour and window coverings. Buy the house with good bones, because the skin can always be changed to match your tastes.

Imagine each house as if it were vacant. Consider each one on its underlying merits, not the seller's decorating skills.

Your agent, Kim Kirkby

The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will inspect the property with an eye to how well it meets your needs. Whether or not you choose to work with Kim, pick an agent you feel comfortable with and engage them. You then become a client with the rights, benefits and privileges of an agency relationship, rather than just a shopper.

Did you know that many homes are sold without a sign ever going up or an ad ever being placed in the paper? These great deals go to people committed to working with one agent. When an agent hears of a great buy, who do you think they will call? Their client, to whom they have a legal obligation to work hard, or someone who just called and said 'keep your eyes open'? To get the best buy, hire your own agent and stick with them.

Happy buying or selling

Let the pressure be taken off your shoulders.