Kahn May Real Estate - Wellington, New Zealand

Is a seller always best to accept an unconditional offer?

A real world example

This is a story about good friends of mine who placed an offer on a home they loved some time ago. Their offer was $750,000, only subject to a short finance clause of three working days. They added a letter explaining that all the bank needed was a valuation. They also conveyed that they had a valuer organized for the next day should their offer be accepted. Their financial position was excellent, the agent was briefed (they really wanted the house) and there was enormous confidence the finance clause would confirm.

I personally had just sold a house the month before, four doors down for $751,000. It was in a similar condition and a similar size. According to my property smarts system, the house my friends were looking at was actually a larger floor area and larger piece of useable land.

Questions you should ask at an open home

As a buyer, open homes are a goldmine for garnering information. As much of a chore as you may feel them be, I believe they are a pertinent part of the purchasing process and shouldn’t be underestimated. Just remember, the agent is always present and happy to help. They are a great source of knowledge. Please, do not feel shy to tap that recourse. My previous blog touched on my wife and I searching for a bigger property (the search continues). I wish that I was able to attend more open home showings instead of working during the weekend and having to make an appointment to visit.

The cost/benefit analysis of upsizing

It happens to many. We purchase a home thinking we have found the oasis that will serve our needs for a lifetime. A few years later children arrive and the oasis seems a little more cramped. I sit in this exact conundrum at the moment as my wife and I look at purchasing a larger home. Penning my thoughts provides benefits two-fold in a) providing you with thought-provoking information while b) helping me work through my decision making process.

Property negotiation part 1 – understanding this could be worth thousands

Negotiation is a huge part of the process of selling a home. It starts from the first phone call or meeting at the property and continues until the ink is dry on the contract. After nearly 13 years in real estate, I have come to the conclusion that negotiation is not rocket science but it does take a lot of intuition. I will broach a few basics at a time and hopefully, by reading you will be more prepared and aware as both a potential seller, buyer, or possibly agent.

Submitting a Winning Sale and Purchase Agreement – Part 1

Returning from lockdown, I was as curious as anyone to see what state the market was in. Truthfully, the interest levels from buyers in Wellington don’t seem to have changed markedly compared to pre lockdown. One property I am selling has garnered over 36 inquiries in only 4 days on the market. This has meant that buyers are putting in a lot more thought around the offer they are putting forward in hopes to be successful. It could be valuable to read this piece in the hopes of being the person to submit a winning sale and purchase agreement.

Purchasing sight unseen. Advice, and my experience in doing exactly that

At the minute, the property purchasing landscape is a little all over the show. People are wondering should they buy now or wait? Until we find out where NZ is going with the lockdown and the plan coming out of it, it is difficult to predict. However, there is a saying I love which is – “time in the market is more important than timing the market” – or another one – “the best time to buy property is when you can afford it”.

How will this Pandemic Affect the Wellington Property Market?

I realised a couple of decades ago, in my late teens as I was watching an economist talk about the property market, that often even experts are guessing. The property market is always hard to predict. But for what it is worth here are my 2 cents.

Survive vs Thrive Mentality

A quiet thought download for the day with the government announcing a nationwide lockdown for the next month or so….

Choosing the Right Real Estate Agent for You

Who Should Sell my Home?

The time has come where you need to sell. I am sure you have considered keeping your property as an investment, but that doesn’t always make sense given circumstances. Who will represent your home?

Do kitchens and bathrooms sell houses?

If I had a dollar for every time someone said “you know what they say, kitchens and bathrooms sell houses”, I would be a rich man. I have met many people who have been tempted to pour good money into a kitchen or bathroom before they go to market. Here’s a tip; there are usually other places where that money is better-spent first.