Home loans customers 'should monitor potential purchases'
Article by Mozo
Home loans customers searching for a new house should take their time when they find a property they are interested and monitor the market carefully before putting in a bid.
This is according to property investor Peter Koulizos, who told news.com.au that when the price start to fall, this is the best time to make an offer.
He suggested that vendors that drop their asking price have already accepted the amount they will recieve is below their expectations, which may make them more amenable to negotiation.
"Keep an eye on properties on the market because generally speaking, the longer a property languishes on the market the keener the vendor is to sell," he stated.
Mr Koulizos added that it may be advisable for those who have been online to compare home loans to find out why the abode is on the market, as sellers who need to relocate may be more inclined to negotiate on prices.
This comes after the director of Whittaker MacNaught Noel Whittaker said in an article for the Coolum & North Shore News that property buyers should not rush into making a purchase as it is an important decision to make.
Have a question about home loans? Ask the money gurus at Mozo Answers.