Securing a Dream Garden Apartment Off-Market

▉ REGION: LOWER NORTH SHORE
▉ CLIENT: YOUNG COUPLE
▉ BUDGET: $1.7M

Ground-Floor Garden Apartment in Wollstonecraft secured Off-Market:

Background:

Webb & Co. Buyers Agency were engaged by a young couple who faced the complex challenge of buying and selling a property at the same time. Their brief was to find a ground floor apartment that met their growing family’s needs, but as they worked through the sale of their existing property, their budget had to be adjusted downwards. With the added pressure of navigating both transactions concurrently, they needed expert guidance to ensure they didn’t miss out on the right opportunity.

Challenges:

We faced several challenges during our property search for this couple. As they worked to sell their home, their budget was lower than initially expected, which required them to adjust their expectations. Securing a home that met both their needs and their revised budget became harder especially due to the deadline of Christmas. Ground-floor garden apartments in Wollstonecraft are particularly rare and highly sought after by cashed up downsizers, which made this type of property a prime target. However, with this level of competition, acting quickly was crucial to minimise competition.

Strategy:

We pride ourselves on our ability to navigate complex situations with a strategic approach. Here’s how we made it happen for our clients:

1. Leveraging Close Agent Relationships and Off-Market Opportunity:
   Due to our strong, trusted relationships with local agents and contacts, we were made aware of a ground-floor garden apartment in that was about to come onto the market. This property had not been traded since the building was built in the 1980s and was not yet listed publicly. Because of our close relationship with the agent, we were given the exclusive opportunity to view the property before any other buyers.

2. Speed and Quick Decision-Making:
   With such a rare and desirable property in a competitive market, timing was everything. As soon as we had the full picture, we moved swiftly to put together an offer. Given the scarcity of ground-floor apartments in the area, and the fact that they appeal strongly to downsizers, we knew we had to act quickly to avoid facing competition from other buyers once the property went public. Our ability to make a fast, informed offer put us ahead of the curve, and we were able to secure the apartment under market value before other buyers could complete their due diligence.

3. Adapting to Changing Client Needs:
   Throughout the engagement, we were in close contact with the clients as they navigated the sale of their home. As the sale process was more challenging than expected, they had to adjust their budget to accommodate their changing financial position. Despite this, we were able to refine their brief and adjust our search parameters accordingly. We remained focused on finding a property that not only met their needs but also fell within the newly adjusted budget.

4. Navigating the Simultaneous Buy and Sell:
   Buying and selling at the same time can be stressful, especially when dealing with a shifting budget. We provided ongoing support throughout the entire process, offering advice on how to balance the sale of their current home with the purchase of their new one. Our team was proactive in managing timelines, coordinating inspections, and negotiating the best possible terms, ensuring the process ran smoothly from start to finish.

Outcome:

The result was a huge success. Webb & Co. helped our clients secure their dream home—a rare ground-floor garden apartment in Wollstonecraft, under market value, and just in time for the holiday season. The apartment, which had not been traded in decades, was exactly what the couple was looking for: a blank canvas with a large outdoor area to renovate and make their own.

Despite the challenges they faced selling their property and adjusting their budget, we were able to find a solution that met their needs. The speed with which we acted, combined with our in-depth market knowledge and trusted agent relationships, allowed us to secure the property before it came to market preventing competition from driving the price up. By leveraging these strategies, Webb & Co. successfully helped this young couple achieve their property goals, securing their dream home at a price that was well below market value and setting them up for a successful future in their new space.