“I highly recommend Matt Hughes from Capital Property Advisory as a buyer’s agent. I engaged Matt to help me purchase a home when I arrived in Perth after living overseas for an extended period. There is no doubt Matt created significant value for me by guiding me through the process, conducting a search and negotiating the sale. Matt has a deep knowledge of the property market, including zoning and planning regulations, quality of local builders and the characteristics of different suburbs – even specific streets – that was invaluable to me as a new arrival in Perth.”
1. Client Brief
Our client Kate was seeking a ‘move-in’ ready home, close to the city and in an area with a vibrant and active community, with plenty of local amenity. The property brief didn’t include buying a home this large; however, the deal we were able to negotiate was too good for Kate to pass up! Kate had recently returned from years of working overseas and had limited knowledge of the target areas and the Perth market in general. Being far too busy to attain this knowledge, Kate knew a buyer’s agent was the right approach for her to get the result she needed.
2. Property Sourced & Negotiation
After a couple of days of driving around together we honed in on a target property that was located in the highly sought after suburb of Mount Hawthorn. A stunning fully renovated three bedroom, three bathroom character home. Knowing the value that this opportunity represented, our Buyer’s Agents’ extensive knowledge of the area allowed us to educate Kate to point of feeling confident enough to act quite quickly, securing the property with favourable terms, at well below what the seller had invested.
The seller had actually purchased the property for exactly the same price in 2013 as we eventually paid in late 2018, which doesn’t make it sound like a bargain when you consider the market was at a similar level at both of those times. What made this extraordinary was the fact that the seller had spent around $250,000 adding a second storey to the property – a spacious new master bedroom with walk-in-robe, ensuite, study and a library/retreat area.
3. Financial Summary
|Last Sold Price (2013)||Renovation Cost||Our Purchase Price (2018)||Total Saving|
Kate has settled in happily to her new home and had the following to say post-purchase;
“Matt is supported by a technical team who provided a market assessment before an offer was submitted and completed due diligence on the first business day after the sale. Matt was a great partner and adviser to me, and was able to quickly assess my needs and tailor his support accordingly. He handled all of the engagement with sellers agents and negotiated the sale including not only price but also additional conditions.”