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Have you ever searched through online Sydney real estate ads, looking for your ideal property, but can’t find anything even close to what you’re after?

You may need to buy in a particular area or street, or you’re after a particular type of property. You know they are out there, just inconveniently none are for sale at that point in time.

When these properties eventually do come on the property market, they are in hot demand from dozens of other buyers and often sell very quickly, and for more money than makes logical sense.

So how can you still be pro-active to find and secure your ideal property?

I have often heard that every property is for sale…..’At the right price’, but that isn’t necessarily true. If you want to buy a house which isn’t on the market, you will need the right strategy, a lot of persistence, skill, and effort. However all the hard work can all pay off, and everyone can achieve a favorable outcome.

1.Do your research
The first thing to do is find out everything you can about the property and the area. Is the property what you are after, or more importantly, can you create the type of property you want? Check in with the local council, where they can tell you about zoning and if there are applications for developments nearby. Your aim is to ensure there are minimal surprises!

2.What is fair value?
Now you’ll need to understand what money you’ll be up for. What is fair market value for the particular property? You can get a detailed guide on how to work this out here, but basically it is all about recent comparable sales. There are many online sources that can provide this detailed information, such as RP Data and Residex to name a few.

3.Who is the owner?
Simply knocking on the door of the property is a good place to start. If the owner isn’t around, other places to search for the owner include the electoral roll, phone directory or just Googling the address.

4.Introduction and Negotiation
Now comes the most difficult step – negotiating to buy a house without paying more than its worth. The reality is, the owners aren’t selling (officially at least), so to motivate them to part with their property, you’ll need to find out what they their next steps are, and how you can help them achieve this. There is a lot to be said for not being directly and personally involved in this part of the process. It is almost impossible for both parties to detach themselves emotionally from the transaction, and having a buffer than can help put the transaction together is definitely going to increase the success rate of the transaction. Especially if you’re not experienced at negotiating, find someone to act on your behalf such as a Buyer’s Agent, who negotiates property sales for a living.

5.Write the owner a simple letter
Place a note in their letterbox and tell them you’re interested. Include your name and address, which will help build trust, and tell them why you’re interested in their property. For instance, a note which says: ‘We love the area and your house – it would be the perfect place to start our family’; will get you further than ‘We want to develop your property and build a duplex’, which can sound very cold and invasive. Your goal is to get the owners as interested in you as they are in the transaction – and inspire them to think about possibilities they might not have thought of.

6.First talk about the property and the owner – but not the price
If you’re negotiating yourself, without the help of a buyers agent, it is best to assume one of their first questions will be, ‘What are you prepared to pay?’ In the subtlest way, try to defer this question while you find out a little more about the owners themselves. Have their children moved out of home? Are they are looking to upgrade or retire to a sea or tree change? The more you understand about their motivations, the more you will know what factors may help you strike a deal. And when it comes time to talk price, try and get them to tell you what price they would be prepared to take first.

7.The terms are often most important
One of the most surprising things you will find trying to negotiate a real estate deal is price may not be the sticking point – often it’s the timing or conditions for the people involved. While price matters, at heart we just want the best for ourselves and our families at any given moment. See if you can get the stars to align. Ask for a building inspection but other conditions will not do you any favours – make the deal work for the property owners. They need a six month settlement – no problem! Be as personable and easy to deal with as you can, and with a little luck, you may just buy a house which isn’t for sale.

For further help on finding the right property, call our expert property buying agents on 1300 132 970