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Articles by Salesh Chand.

WHEN IS THE BEST TIME TO BUY PROPERTIES?

AUTHOR: Salesh Chand
Partner and Director of Business Services

POSTED: 04 November 2013

From my personal experience over the years, I have learnt that the best time to buy properties is towards the end of November, December and January.

Towards the end of November most vendors are looking at offloading their stock to avoid holding costs, as the chances are the next settlement date will be in February, i.e. they will have three months of holding costs. They will happily negotiate an earlier settlement, most likely early December, to avoid unnecessary cost.

Further, the vendors are aware that most of the potential buyers will be away during the holiday season and there will be only limited buyers in the market. So if you are a cash buyer, this is your chance to purchase good properties at reasonable prices.

I personally believe the market has slowed down this year in October due to the LVR rules that were implemented from 01 October 2013. I have been talking to real estate agents and bankers and they have all confirmed the market has slowed down and they are seeing less activity. I have met with clients who bought properties in October for well below the vendor's reserve price due to fewer buyers at the auction, and in some cases no buyers.

So if you are a unconditional buyer, you need to start attending auctions because the chance of you getting a good deal is high in the current environment.

If you are a buyer who has good equity but you don't know how to utilise this equity, please call us today to discuss your options. We have great relationships with bankers and we will find ways of utilising your equity so that you can become an unconditional buyer when the right property comes up for sale.

If you are a first home buyer and you do not have enough equity, we are happy to meet with you to discuss options.

Request a Meeting

Salesh Chand
Partner and Director of Business Services

09 522-7955

[email protected]

© Gilligan Rowe & Associates LP

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Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.

Comments

Testimonials

Hi Salesh, I just wanted to send you an email on behalf of GRA to say how fantastic we have found your company to date. As you know, Ben and I joined GRA a couple of months ago and have just found you so amazingly helpful in getting our new property set up correctly and sorted out. We have what I would consider a rather complicated structure as a result and it’s a fantastic feeling to know that we are getting everything done in the best way possible. We have just had approval to put a minor dwelling on the property which will make a massive difference in terms of cash flow and obviously value, something we would never have even thought of without GRA and which we are very excited about. During the buying process we attended a seminar with Matthew and from the outset thought he was fab. We therein signed up for property school and found this nothing short of fantastic. The content was relevant, up to date and comprehensive, but more importantly it was taught in a way that we could actually understand and really get value out of. I wanted to mention also, that everybody GRA have recommended to us has been just so efficient and absolute masters at what they do. A wonderful network of people that we feel very lucky to now be able to call on. From Kris Pederson and Bryan Rist who put our mortgage together to the insurance guys they then referred us to, I’m super impressed. Within GRA, Ellery has probably turned things around for us faster than I’ve ever known before, something which we appreciated so very much when it came to crunch time. She’s always a pleasure to deal with and again, we’re stoked. We’ve just settled on the property today and are about to go and get the keys. I’m pretty pumped and hence this email is probably rather excitable. So, a massive thank you to you Salesh, the partners for such a fabulous 6 weeks at property school and everyone at GRA for their help. May this be the start of our property empire. Thanks again, - A & B - July 2015

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