Australian Property Prices Too High? Here Are 8 Strategies For Negotiating A Better Deal On Your Home

The Reserve Bank this year drove interest rates to new lows and homebuyers responded accordingly.

According to RP Data earlier this month, capital city house prices rose an average of 10.3% from 2012 lows, with the rapid growth sparking brief fears of a bubble.

If you’re in the market for a home, these tips from Sydney real estate firm Skeen Property Buyers could help you knock prices down:

  1. Advise the agent you have multiple offers on homes. if you are in the market to buy a property, place multiple low offers on homes as you never know who might accept them!
  2. Re-offer on bids that were rejected earlier in the last year.
  3. Offer odd amounts: for example, rather than ending at $655,000 offer $655,750. This shows the seller you have offered every last cent towards buying their home.
  4. Offer a short settlement period. Owners will be keen to settle quickly especially if they have bought elsewhere.
  5. Put a final offer in a signed contract with a deposit cheque.
  6. Consider adding a section 66W certificate, waiving the cooling-off period.
  7. Offer a release of the deposit if the seller needs to buy a property themselves.
  8. Be alert and consistent with searching a bargain-priced property whether you are looking online, through print media or phoning agents. Be persistent and you will be successful.

Now read: YEAR AT A GLANCE: Australia’s Top Economists Share Their 19 Most Important Charts Of 2013

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