Client Profile
- Location: Newtown, Sydney
- Buyer Type: Expat investors
- Goal: Purchase a 3-bedroom terrace in the Inner West as an investment property
Situation
Our clients, expats referred by a past client, sought an investment property in Newtown, a familiar area from their university days. They needed:
- Local market insights and up-to-date intel on property conditions
- On-the-ground support for property inspections and due diligence
- An experienced negotiator to manage the bidding process on their behalf, as they remained overseas
With limited time before their pre-approval expired, they engaged us to navigate Newtown’s competitive market and secure a high-value terrace.
Challenges
The search for an ideal terrace in Newtown presented unique challenges:
- Limited Inventory in a Competitive Market: Finding a spacious terrace within budget required a strong network and off-market access.
- Time Constraints and Location: As time-poor professionals based in Switzerland, they needed comprehensive remote support, including due diligence and property inspections.
- Auction Dynamics: Securing a property at auction required a controlled bidding strategy to compete successfully without overpaying.
Our Approach
To meet the client’s needs, we focused on off-market access, efficient inspections, and a precise auction bidding strategy.
- Comprehensive Off-Market Search and Targeted Inspections
Leveraging our local connections, we identified both listed and off-market properties, inspecting close to 20 terraces over an eight-week period. We identified a 3-bedroom terrace in Newtown that met the clients’ needs with spacious rooms, a large bathroom, and DA-approved parking at the rear. This property’s size and layout exceeded typical offerings in the area, making it ideal for their investment goals. - Due Diligence and Strategic Auction Preparation
We conducted thorough due diligence on the terrace, covering its structural condition, market valuation, and rental potential. After discussions with the clients, we determined that attending the auction was the best approach given the competitive market. Our preparation ensured the clients were well-informed and ready for a strategic bidding process. - Controlled Bidding Strategy at Auction
On auction day, we opened the bidding slightly above the guide to set the tone, maintaining control over the tempo and speed. With spirited bidding among three parties, we ultimately secured the property, much to the clients’ excitement as they watched live via WhatsApp video. Our approach kept the clients informed and engaged while ensuring we stayed within budget in a competitive environment.
Outcome: Securing a High-Value Terrace in Newtown at Auction
After an eight-week search, we successfully secured a 3-bedroom terrace in Newtown that met and exceeded the clients’ investment criteria. The property’s oversized bedrooms, large bathroom, and DA-approved parking offered strong rental and appreciation potential, positioning it as an ideal long-term investment.
Key Benefits to the Client
- Local Market Insights and Due Diligence: Provided detailed property assessments, ensuring confidence in the property’s condition and market position.
- Efficient On-the-Ground Support: Inspected each property and managed communications remotely, saving time and reducing stress for overseas clients.
- Expert Auction Bidding Strategy: Controlled the bidding process to secure the property at a competitive price, achieving an optimal outcome within budget.
