3 Things You Need To Commission When Buying A Property

Wednesday, March 25, 2020

Hundreds of thousands of dollars could be transacted right before your eyes when you settle on buying a new property. It's at this point it will really hit you, that you have just bought a property and given a stranger an incredible amount of your money. This is not the time to be having doubts and second thoughts about something you didn’t like. You should have been completely thorough when you were viewing the property and weighing up your options. If there’s one type of regret you don’t want in life, it's real estate buyer’s regret. You could be saddled with a no-hope property if you didn’t take your time and do these three crucial things.

What could you do?

The seller will inform you of what his, her or their property can do for you. They might have a large garden which they’ll say is ‘great for barbecues in the summer’. They might take you upstairs and say ‘these walls have new insulation’. This is all well and good but they’re not explaining what their property could do in the future. This is why you need to hire a surveyor, so he or she can answer this question for you. They will charter how much property there actually is. How far does the driveway really go? What kind of land is the property sitting on? Can the property be extended in the future with minimal paperwork required? Can you build a swimming pool in the garden or are there water pipes getting in the way? A surveyor will clear the mist in front of your eyes.

All well and good?

Don’t try to strike up a relationship with your seller. There is a place for the charm and sweet talk, but leave it until you are satisfied with their property. The negotiations will give you an opportunity to share your story and haggle them down to a price you would like. But initially, all you need to know is if everything is all well and good inside the property? Are there any leaks or damp patches? Is there a rat problem that has caused ruptured wiring? Maybe there is a substantial heat loss around windows that the sellers haven’t told you about. Avoid frustration down the line by going with a real estate inspection. Every inch of the home will be scoured for ticks. Any crack in the floorboards, condensation in the ceiling or busted toilet, the inspector will find out. Use this kind of service to see whether or not everything is as the seller says it is.

Go your own way

Real estate agents are competing with each other. They’re under a lot of pressure to make a lucrative sale, even if it's way above the valuation price. They hope that you won’t notice. But if you hire your own appraiser, he or she will look over the property and give it an independent figure. Then you can see whether you’re being taken for a ride or not.

These three things will save you a lot of heartache in the long run. So don’t be afraid to splash some cash around and get your own inspections, valuations and surveyances done.

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