November 2007
Example Article: BATTLE OF THE BUYERSConsidering the ongoing shortage of properties, the average house hunter requires a sophisticated game plan of research and preparation if they have any hope of winning the "battle of the buyers". Whether it's anticipating pre-auction sales or defeating other punters in a multiple offer situation, today's prospective buyers have significant hurdles to overcome before they can shift from being a hopeful house hunter to a happy home owner. Multiple offers often happen in a `seller's market' when competition for residential property is greatest and there are more buyers than there are properties for sale. “Succeeding in a multiple offer situation requires more than just submitting the highest bid”, says Mr Molloy, REI Qld Managing Director. “Buyers should also be aware that sellers will examine all the terms and conditions of each offer before deciding to accept any particular offer”. “Some sellers may be prepared to accept a lower price if the offer is unconditional rather than take the risk that a higher offer may not proceed to settlement, because of the special conditions required by a buyer.
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