Stephen and Elliot had inspected 25 properties before they finally found the apartment they wanted to call home. However, an auction was approaching, and the strata report revealed a history of special levies. They were unsure how to proceed or what the property was really worth. Therefore, their lawyer recommended they speak with Moove.
First, we met with them to understand why this was the right property and discuss their concerns. They then engaged us to manage the due diligence and negotiation. Within 48 hours, we had secured their new home.
We began by pulling apart the strata report and separating genuine concerns from the noise. We reviewed the buildingās finances, previous special levies, and potential future liabilities. Next, we explained our findings to Stephen and Elliot. We clarified what mattered and what we believed was fair value for the apartment.
Next, we turned our attention to the selling agent. We assessed buyer interest, the vendorās expectations, and their willingness to sell before auction.
Using that information, we developed a negotiation strategy. We also agreed on a target purchase price with our clients.
Once the vendor confirmed they were open to offers, we worked with the lawyers to agree on contract terms. We then submitted an offer with a strict expiry. This approach was deliberate. It created urgency and limited the opportunity for other interested buyers to respond.
The agent responded with a counteroffer. After discussing it with Stephen and Elliot, we revised our position and secured the apartment.
Ultimately, the entire process took just two days.
Better still, we purchased the property at the exact price we had forecast. It was $120,000 below the most recent comparable sale in the building.
Moreover, buyer interest was strong, and the auction was approaching. We believed the property could have sold for considerably more.
Stephen and Elliot had already found their perfect home. They simply needed the right advice, due diligence, and negotiation strategy to make it theirs.