Walter Nanni Shares his Insight on the Property Market
The key is for buyers to research their options so they have a thorough understanding of what different properties are worth, and can spot a bargain, says Walter Nanni, a Sydney buyer’s agent at Cohen Handler.
“Where people fall down is not knowing valuations: when they see it they’re relying on a selling agent, who works for a seller, to tell them what it’s worth or what it will go for,” he said. “The minute I look at a unit or a house, and (the
vendor) says, ‘I’m happy to take $1 million for it’ and I know it’s worth $1.1m, I’m buying this.”
For buyers baulking at a $1m price tag — slightly less than the median house price in Sydney — Mr Nanni suggests looking for an older-style home that needs renovating. He also stresses the importance of being able to do a fast deal, delivering paperwork and a deposit cheque quickly to beat the competition.
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