It is rare in this market for me to say that a property is a bargain. In fact I spend most of my time advising clients not to buy properties- either because they are overpriced or I think I will be able to find a better opportunity in the near future.
However, I recently found an apartment for a client that in my opinion was about 15% undervalued. The owners basically were keen to sell. I showed my clients the property and they could immediately see that it was very good value.
However, I knew there would be trouble when my client said: “We will put forward an offer, but I need to speak to my bank first”. Now I must confess that I was rather surprised when I was told this. As you know, I advise every client what needs to be done to ensure that they are in a position to move swiftly when their ideal home or investment becomes available.
Indeed my client assured me that he had spoken to his bank soon after we had first met. Clearly he had not gone into as much detail as I had instructed. Unfortunately it took the bank four days to respond to him and, as you can imagine, the property had gone “under offer” in that time.
And this is the problem with a lot of the advice I give: it seems too simple to be important. It is not. Opportunities such as this come up very rarely in prime central London. You do not want to miss out on the best opportunities just because you have not carried out the necessary preparation. Preparation which only takes a couple of hours of your time (or your p.a.’s time) but which will save you vast amounts of time, money and stress in the long term.
On numerous occasions I have had offers accepted despite the fact that they were not the highest offers put forward. This happens partly because of my reputation and relationship with the estate agents. However, it is also partly due to the fact my clients are in a position to move more swiftly than any one else (normally!!).
On that note, if you would like to discuss how you can be one step ahead of other buyers or if you have any questions on the prime London property market, you can book a complimentary property orientation.
The orientation takes a maximum of twenty minutes and is tailored to your specific requirements. You will speak to me directly on the phone and I will answer all your questions and provide a blueprint for your property search which is guaranteed to save you time, money and stress.