Client Profile
- Location: Dover Heights, Sydney
- Buyer Type: Owner-occupiers
- Goal: Purchase a property with “gun barrel” Harbour Bridge views, a 500 sqm block, and potential for renovation or rebuild
Situation
Our clients, a family from the Upper North Shore, were ready to relocate to the Eastern Suburbs. They sought a property with:
- Harbour Bridge views and a sizeable block of approximately 500 sqm
- Renovation or rebuild potential to create a customized home
- A six-month settlement period to allow for a smooth transition without disrupting their children’s schooling
Given the competitive market and the specific requirements of their brief, they engaged us to save time by pre-inspecting properties, handle negotiations, and secure the ideal property.
Challenges
The search for a premium property in Dover Heights came with unique challenges:
- Difficult Brief with Limited Opportunities: Finding properties with Harbour views, a large block, and potential for renovation in Dover Heights or Vaucluse was challenging.
- Competitive Price Point: Many buyers in the Eastern Suburbs were competing at a similar price point, requiring careful market monitoring and strategic timing.
- Time Constraints: The family’s busy schedule made it crucial to streamline property inspections and maintain efficient communication with agents.
Our Approach
To meet the family’s needs, we focused on targeted property selection, strategic negotiation, and consistent market monitoring.
- Property Pre-Inspections and Agent Communication
We conducted pre-inspections for properties that met the client’s brief, only involving them once a property demonstrated strong potential. This time-saving approach enabled us to move swiftly when opportunities arose and facilitated direct communication with agents. - Strategic Auction Attendance and Negotiation Tactics
Initially, the clients wanted to secure the property pre-auction, but after discussing with agents, it was clear the vendor’s expectations were high. We attended the auction but did not bid, allowing the property to pass in. By doing so, we avoided overpaying and kept our options open, as we continued monitoring the campaign and staying in touch with the agents. - Timed, Unconditional Offer for Maximum Leverage
Three weeks post-auction, a unique window to purchase emerged. We acted swiftly, presenting an unconditional offer on the same day. This approach leveraged the vendor’s lowered expectations, securing the property for $400,000 less than the pre-auction offer the clients were initially prepared to make.
Outcome: Securing a High-Potential Property Below Expected Cost
After a focused search and strategic negotiation, we successfully secured a prime 500 sqm property with Harbour Bridge views for the clients. The six-month settlement provided the family with the time they needed to transition smoothly, and by timing our offer, we saved the clients $400,000 compared to their initial offer.
Key Benefits to the Client
- Exclusive Access and Time-Saving Pre-Inspections: Presented only the most suitable properties, allowing the family to focus on high-potential opportunities.
- Strategic Auction and Post-Auction Negotiation: Timed our actions to secure the property below initial expectations, saving the clients a significant amount.
- Seamless Process and Agent Buffer: Managed communications with agents and conducted market monitoring, ensuring the client’s best interests were consistently represented.
