Buying home is an important decision of your life and yes, also a big dream when you are buying it first time. When buying a home it is important that you make use of all your knowledge about Real Estate dealings. As a home buyer you should be as patient as humanly possible. This is not always the easiest thing to do, but something one has to. As long as you are cool, calm and collected, you should have what it takes to wait for the right deal.
This checklist gives you a heads-up on what you need to know and consider before leaping in and purchasing.
1. Searching for a home can be achieved in many ways.
2. Consider the life stage and current situation. Think about what is important to you and what you are genuinely looking for from a property. This could include:
3. Other important aspects to be considered include:
4. Make sure you go for a drive around the areas you’re planning to buy in. You might see a number of ‘For Sale’ signs and you can use agent contact details for further search of information.
5. Use Real Estate Consultants to your advantage – they can do much of the searching work for you, especially around the areas you’re interested in. Prefer the consultants who work in the geographic areas of your choice.
6. When you locate a property you’re interested in purchasing, remember a few key points:
(a) If you’re dealing with a real estate consultant, you must conduct all negotiations through the consultant – do not contact the vendor personally to negotiate.
(b) If you’re purchasing at an auction, remember that the dealings are final – there can be no negotiation of contractual terms such as arranging finance or building inspections if your bid is successful.
(c) Ensure that you are satisfied with all your requirements from an auctioned property before you bid.
7. Make sure you choose a real estate consultant that you are comfortable talking to.
8. It is in your best interest to visit the site before you unconditionally purchase a property.
9. You need to formally apply to a bank/financial institution for the approval of your finance. You should provide all the required documents to the Bank/Financial Institutions for quicker approval of your loan.
10. You must read the agreement carefully.
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