Things To Avoid When Buying Property
When buying property we don't always take the time to loo at some of the key things that may cause us hassle or grief once the property has settled
. Some of these things are not what you would typically expect building inspectors to notice.When you inspected the property, you didn't check out the immediate neighborhood. The entire local chapter of the Hell's Angels lives behind you.
It was so beautifully presented that you didn't notice the electricity tower behind the trees in the back yard.
Those solid timber fence posts are riddled with termites.
The water pressure is so poor that when you start the dishwasher, the other taps dry up. An buyer's inspection is usually only a cursory "look-over", especially if the residence is occupied. In someone else's home, it's uncomfortable poking around, or moving the couch aside to check the paint job.
While a professional building inspection will highlight structural defects, it generally won't find the things already mentioned, simply because it's not designed for that.
Reducing the risk to the buyer
Engaging a buyer's agent can take the apprehension out of buying property. Here's what you can expect:
Evaluate the buyer's criteria and present only relevant properties
Preview properties on the purchasers behalf or accompany the buyer to inspections
Bid at auction on behalf of the purchaser Negotiate with the seller, with the purchasers interests in mind
Structure an offer, and present it to the seller's agent, or seller
Arrange mortgage brokerage services if required Assist with pre and post settlement issues
The difference between a buyer's agent and a real estate agent
A buyer's agent does not sell real estate. They work on behalf of the buyer, not the seller They present the purchaser with all the information they need to make an informed decision, without the sales "hype"
The benefits of using a buyer's agent Uses their networks to find as many relevant properties as possible
Saves time - they do all the leg work to get a short list
Uses professional negotiating skills to get the best price
Less stress and frustration - the buyer only sees properties that meet specified criteria, not every listing a seller's agent is trying to move off their books
Finds the right property in a good location that will attract capital growth There is a fee for using a professional buyer's agent, but that will be easily recouped by buying a quality property that increases in value.
Copyright (c) 2010 Michael Atma
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