Brisbane Unit Purchased 100K Undervaluation
Brisbane Unit purchased for 100K undervaluation from an independent valuer. As Brisbane Buyers Agent we do not advise the investment of inner-city Brisbane apartments due to the oversupply situation. In this case, our client needed a Brisbane Buyers Agent to source an inner-city unit with specific requirements for him to live in when in Brisbane.
Whilst the lower end of the Brisbane unit market is oversupplied and experiencing price drops, the same does not apply to units in the one million-plus price range. These properties are in demand and you can pick up a bargain here if you’re a savvy negotiator.
The asking price on this unit was in the 1.3 million dollar range. Our strategy here was to place an initial offer below the 1 million price point and negotiate from there. It was very important to stick to our strategy on this one, and that strategy is called, place your offer, fold your arms and turn away.
We knew the developer wanted to sell and even though we had placed a very low offer, our intent was to ensure the agent and the developer knew our position and the value we placed on the property. If they wanted to sell then they needed to come down in price. After over 2 months of negotiations where the agent would try his hardest to get our offer price up. we settled on an amount just over the 1 Million dollar price.
We then engaged one of Brisbane’s best valuers to conduct a full valuation for our client which came back at $1.25 Million which resulted in our client saving over $100,000. Not a bad effort.
These are the results that are good Brisbane Buyers Agent will produce for you. A good strong strategy and negotiation skills can save you thousands.