18 Chatsworth Road PRAHRAN

October 10th 2011 Comments on 18 Chatsworth Road PRAHRAN

This is one of Prahran's most attractive tree lined streets centrally positioned between High Street and Malvern Road. The floor plan is a flexible one with most rooms in the right place. What doesn't work to my way of thinking and compromises the entry is the positioning of the laundry. To improve this you could relocate the laundry downstairs in to the large storage room. This may allow you to remove the wall between the study and the laundry, creating one larger room and improved entrance area. The property does have three car parks on title which is a real bonus in an area where on street parking is problematic. The rear deck is large enough to have a BBQ and with sliding doors opening out, the connection to the outdoor area from the family room works well.  Having being built in 1999 the bathrooms and kitchen are now starting to show their age and whilst they are functional from a rental point of view. You may consider upgrading them if it was your intention to live in the property. The bedrooms upstairs have poor natural light penetration and on cloudy days would be very dark. If you were purchasing the property as an investment or to live in, its proximity to shops, cafes, schools and public transport is first class.

A number of clients engage us to negotiate only.

What should your offer be? And what response will Jellis Craig give you to that offer? Framing of offers and counter offers are so important.

Is Charles Boyd the key agent to be dealing with in trying to buy 18 Chatsworth Road?

Do you have a plan? Is it a predictable one? Do you have an established history with Jellis Craig? In other words do they know more about you than you do about them? What are Jellis Craig's processes, habits and quirks when it comes to negotiation? Are those processes fair, can they be negotiated?

Contracts, inspections and terms - have you completed due diligence - can Charles in fact sell 18 Chatsworth Road to you today if you did start a negotiation. Yes or No! If no why start?

Many of our negotiations are win-win eg a fairly priced off market. At the other end of the scale auctions and highly priced homes are obviously designed to be adversarial - look at the bidder numbers on 54A Hornby Street or 72 Chomley Street.

However the current auction hammer rate is 100% which means 0% are not actually selling during that 15 minute incredibly intense process. How will you handle a pass-in such as
54A Hornby Street or 19 Chatsworth Road?

It's been on the market in its current campaign since Oct 6 2011. It has a history - what is it? Is now actually a good time to start negotiating?

Negotiation decisions are critical to outcomes and they involve risk versus reward concepts.

Your intuition in negotiating homes is like intuition in anything else - it can work.

However your intuition plus a complete understanding of the process works better and finally your intuition plus an understood process supported by experienced professionals works best as your decisions are informed ones.