Buying property in a sellers market

Buying property in a sellers market

Buying property in a sellers market can be extremely difficult. With the current booming real estate market in Sydney, many buyers are missing out on securing a property to purchase. With interest rates at the lowest point in Australia’s history, auction clearance rates at the highest level in many years and property prices increasing by 16% in Sydney over the past 12 months, buying a property has become a more difficult process than ever. The number of affordable properties on the market is far outweighed by the amount of buyers competing for the purchase.

Home buyers and investors need to adjust to the current real estate conditions and realise that there are a whole new set of rules when buying property in a sellers market. You need to do your research, be prepared to move fast and take on a completely different negotiation strategy. Below is a list of things you can do to increase your success when buying property in a sellers market.

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What is the cheapest home loan ?

What is the cheapest home loan ?

Finding the cheapest home loan isn’t as simple as looking at a home loan comparison chart and picking the lender who has the lowest rate. If that was the case, we’d all have our home loans with the same lender and the rest would go out of business. There are many variables in choosing the right loan and sometimes what appears to be the cheapest home loan, is not actually the case.

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Lenders Mortgage Insurance – what you need to know

With property prices in Australia rapidly increasing, saving enough money for a good deposit on a home loan is becoming more and more difficult. Lenders in Australia prefer a deposit of 20% of the property value but if that figure is out of your league, there are other options. Lenders Mortgage Insurance allows you to have a smaller deposit and still get a home loan.

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