Sometimes, however, purchasers just want to secure a property without “pussy-footing” around. They want to make a bold “Knock-Out” bid that will surprise and delight the vendor, and bring about a quick and decisive sale.

Purchasers who offer the best price up-front
The most crucial part of any offer, in most cases, is the price. Vendors look at the bottom line, and first impressions in terms of price are very important.

Having said this, however, we do acknowledge that the highest price does not always constitute the best price. Consider this: You’ve worked out the highest possible price you can offer, and you think that someone else may be able to better it. By submitting your offer as a “knock-out” offer you may be able to make it more attractive than other offers.

But, all things being equal, the price is what will make the difference.

Purchasers that are committed
A committed purchaser is one who clearly wants to “get the job done”. The committed purchaser has done all of the ground-work.

These purchasers seek legal advice which in Victoria eliminates the “cooling off” period. This means that when the contract is signed with confidence, the deal is final. These purchasers also ensure that all offers are made in writing (making the offers legally binding), and don’t make verbal offers which are never taken as serious by the vendors as there is no real commitment when an offer isn’t made on a legally binding contract note.

Committed purchasers also obtain written financial approval before making written offers. A bid is less attractive if the vendor has to wait to see if the purchaser’s loan will be approved. Cash sales are solid. Finance should be approved before the sale, so that the final contract is not subject to finance.

Additional conditions are also something that a committed purchaser avoids. The vendors don’t want to wait for building and pest inspectors to give the “all clear”. Such delays, together with the risk that the sale could be cancelled later, can make a bid quite unattractive. Any necessary inspections and checks should be conducted before the offer is made.

Purchasers that take the “no nonsense” approach
“Knock-Out” bids are final. They’re not accompanied by

“…and can you let me know if anyone else puts in a higher offer?”

The “Knock-Out” bid speaks for itself. The purchaser is telling the vendor, “I seriously want this property and I’m prepared to buy it right here and now.” The “Knock-Out” bid either wins or it loses. If it’s accepted by the vendor, then both parties are winners. If the bid is rejected, then both parties can walk away without looking back.

A tip on paying the deposit
The obligation to pay a deposit does not arise until the contract has been signed.

It is generally advisable to offer an immediate deposit of 10% of the purchase price. Sometimes there are financial benefits to the purchaser in offering a 20% deposit, however this is something to be discussed with your financial broker before making any offers.

Conclusion
Making a “Knock-Out” bid isn’t for everyone. But for those who are prepared to carry the risk, there is every chance that a “Knock-Out” bid will secure the property instantly, for a price the purchaser is willing to pay, while other intending purchasers are still trying to negotiate. All of the above advice is relevant also to auction day sales also. A “Knock-Out” bid will always intimidate all other bidders on the day and those who bid boldly generally come out on top.

Peter Konidaris
Real Estate Advisor
0421 274 996
pkonidaris@hodges.com.au
Specialising in real estate for sale in Mentone, Cheltenham, Parkdale, Mordialloc, Heatherton and surrounds.

Don’t impose too many different styles
When designing a garden or preparing one for sale, you must avoid combining styles. For example, having a mix between a Japanese style and an English country garden will only ever look uncomfortable and uninviting. Try to stick to a single style in each garden room.

Try to avoid covering the garden in pebbles
Covering the garden beds in pebbles will not automatically make buyers think “low maintenance”. It can lead to an unfriendly, hot and harsh appearance… not to mention the cost and labour involved.

Never leave gaps in the borders
If there is a gaping hole in one of your garden beds, try to fill it with something suited to the style of the garden. Lower spots can be filled with potted colour that will brighten up the garden. Dense, full and lush garden beds that look well cared for will leave buyers with a positive feeling about the property.

If you’d like me to have a look at your property and give you any free advice on the best and most effective garden presentation, please do not hesitate to contact me.

Peter Konidaris
Real Estate Advisor
Hodges Mentone
0421 274 996
pkonidaris@hodges.com.au
Specialising in homes for sale in Mentone, Cheltenham, Parkdale, Mordialloc, Aspendale, Heatherton, Waterways and surrounds

It has been a while since I have prepared selling/maintenance tips, so hopefully this can come in useful to those of you contemplating selling.

Fixing items that are broken and selling a home that appears to have been well maintained will often overcome any real or imagined problems a buyer will have. Conversely, not fixing problems sends a loud message that you don’t care enough about your home. And don’t forget, the home inspector will not miss problems, even if the buyer didn’t see them.

Fix anything that a home buyer will think should be working on the day of the sale, including:

1. Odours and Smells: Obviously, a big turn off and often poses health concerns. Stinky houses don’t sell easily. Find the source of the stink and remove it!

2. Appliances: Everything should be clean and in working order.

3. Plumbing: If it leaks, drips or runs, fix it or replace it.

4. Windows/Doors: Repair or replace cracked panes or fogging windows. If windows are painted shut, fix them. Put WD 40 on any squeaks and creaks. Replace torn or missing screens.

5. Cabinets: Doors should open smoothly and quietly. Knobs or pulls should be tightened. Buyers will be opening every drawer, make sure they glide smoothly. Wipe everything down and replace old, dirty shelf paper and liners.

6. Paint: This is the biggest improvement you can make for the money. If paint is chipped or cracked, repaint. If rooms look dark or uninviting, repaint in white or off white.

7. Wallpaper: If it’s peeling, use wallpaper glue and press it to the wall. Be sure to remove all bubbles. If it’s old, dated or unappealing, remove it and paint the walls white or off white.

8. Carpet: If the carpet is in good condition, clean it. If it is pulled up in places, tack it back down. If it is old, dated, or worse, it stinks, replace it with a nice neutral color. If you’re replacing the carpet, also replace the padding. Use a thick padding to make the carpet feel more luxurious. If pet smells or odours are on the tack strips, replace those at the same time.

9. Lighting: Replace all burned-out light bulbs with the brightest wattage the fixture allows. If your fixtures are dated or don’t work properly, replace them.

10. Exterior (as per my last two blogs/articles): Clean and touch up the front entry and sidewalk. Add a splash of color with some inexpensive plants. Remove or trim overgrown trees and shrubs, especially those that block the front of the house or sidewalk. Weed landscape beds, mow and edge the lawn. Repair missing or damaged fencing. Clean out gutters/spouting.

As you walk around your home, remember that buyers check every nook and cranny. How well things work and look says a lot about how you’ve taken care of the property. Make a good impression and it will go a long way toward getting your home sold quickly —and for more money.

Peter Konidaris
Real Estate Advisor and Sales Consultant
0421274996
pkonidaris@hodges.com.au
Specialising in homes for sale Mentone, Parkdale, Mordialloc, Cheltenham, Waterways and Aspendale Gardens.

My April Newsletter is up on the web and is being distributed to 4,000 Mentone and Parkdale residents along with every buyer who comes through my weekend inspections. Have a read for yourself
HERE

Happy reading!

Peter Konidaris
Real Estate Advisor
M: 0421 274 996
E: pkonidaris@hodges.com.au
Hodges Mentone
Specialising in homes for sale: Mentone, Parkdale, Cheltenham, Mordialloc, Waterways, Aspendale and surrounds.

The rebounding sharemarket and increased business confidence is underpinning demand for capital city waterfront and other top-end homes, while prestige holiday homes are yet to catch up, said senior researcher Cameron Kusher. “You can’t underestimate how important the sharemarket is for top-end buyers,” he said.

“When they lose half the value of their shares — as they did in 2008 — it’s no surprise the top end of the market is hit.”

On Tuesday, a 1950s beach-front house at Sydney’s affluent Whale Beach sold to a local buyer for $7.375 million just after auction. It is described in its brochure as “liveable”.

Agent Raine and Horne Palm Beach principal Glenn Lee, who sold the property, said the top end of Sydney’s northern beaches market — houses worth more than $5m — had begun to bounce back late last year.

“We sold $56m of property in the last six weeks (of last year),” Mr Lee said. He said prestige home prices in the area had fallen about 20 per cent during the global financial crisis, but had rebounded by about 10 per cent.

In Melbourne this week, the Baillieu family estate was reportedly sold for nearly $25m to developer Harry Stamoulis.

The federation home in Toorak was sold by developers Zig Inge, which bought it for just under $15m early last year after the death of 93-year-old Diana Baillieu.

Sydney’s prestige homes market bottomed in the June quarter last year and began bouncing back in December, according to Sydney valuer Dyson Austen, which compiles a list of the top 10 most expensive homes sold each quarter.

Lachlan and Sarah Murdoch’s $23m Bellevue Hill purchase was the most expensive Sydney property sale in the final quarter of last year, when the 10 most expensive Sydney home sales totalled $132.4m, up from $110.1m in the June quarter. The chief executive of real estate agency Raine & Horne, Angus Raine, said last year had been a disaster for the prestige market. However, most sectors of the market were heading towards a boom.

Mr Kusher said capital city prestige property values fell 10 per cent during the GFC, while coastal and holiday homes in areas such as Sydney’s Palm Beach, Byron Bay on the NSW north coast, Port Douglas in North Queensland and Dunsborough/Eagle Bay in Western Australia’s Margaret River region recorded price falls of 20 per cent or more.

RP Data found NSW and WA luxury sales were the strongest in the last quarter of last year compared with the same period in 2008. In NSW, 45 homes sold for more than $5m each compared with 40 the year before, while in WA 13 $5m plus sales were struck, compared with one in 2008.

Nationally, 72 homes priced at more than $5m each sold in the December quarter.
Peter Konidaris
0421 274 996
Property Consultant
Hodges Mentone

I have been surprisingly busy over the summer period where most real estate agents are either on leave or are twiddling their thumbs. As a result I had no time to actually create my latest newsletter, but now that I’m back on air I’ll ensure that this newsletter goes out every month in 2010. Here’s the March edition. Enjoy!

http://docs.google.com/fileview?id=0B2PKhgamqynTMjZmMTQzMTctYzI1My00ZWVmLWI4ZmQtOTYyMjVjMmY5NzQ0&hl=en

Peter Konidaris
0421 274 996
Property Consultant
Hodges Mentone

Mulch/Fertilize
Topping up your garden beds with fresh mulch/fertilizer really helps to finish off the garden clean up. Mulch is not only beneficial for the garden but by smartening it up it sets the precedence for the rest of the house!

There’s more to gardens than plants
Ensure all your entertaining areas and pathways are clean and clear, the deck has been freshly cleaned and oiled and the lawn has had a good cut (and edge!). Another must is to fix up any minor defects that may detract the eye, such as a splits in the deck boards or the pond pump that no longer works.

Highlight the front door
The front door is what prospective buyers are looking for, so help them out! A neat and tidy front yard is important but they need to know where they’re going. Not seeing a front door can leave buyers feeling confused and unsettled even before they step into the property. Some of the negative comments I’ve heard from buyers in the past have related to something as simple as them not being able to find the front door due to outdoor clutter.  Showing off the door can easily be achieved by a pot in the style of the house and some seasonal colour, or for a more modern property look at architectural plants with striking foliage.

Depersonalise
Get rid of all the garden gnomes, fairy lights, kangaroo statues and all the other outdoor ornaments littering the garden. You want buyers to feel they can add their personal touch to the house and not have to put up with yours.

Peter Konidaris
Property Consultant
Hodges Mentone
M: 0421 274 996
E: pkonidaris@hodges.com.au
Specialising in property for sale in Mentone, Mordialloc, Parkdale, Cheltenham, Waterways, Aspendale, Heatherton and Aspendale Gardens.

http://docs.google.com/fileview?id=0B2PKhgamqynTZmViZjdhYWYtODZmNC00ZTAzLTk3M2YtMDg1NjI1Y2YzMzU5&hl=en

Peter Konidaris
Property Consultant
Hodges Real Estate
M: 0421 274 996
E: pkonidaris@hodges.com.au