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Posts Tagged Buying Property

FOR SALE BY OWNER SERIES – Inspection day

Mar 21

Posted by NoAgentSales.com.au in For Sale By Owner Series | 3 Comments

Here are some questions you may wish to ask on inspection day.

  • How long has the property been on the market?
  • Why are you selling ?
  • How long have you lived here?
  • Have any renovations been completed?
  • What are the current issues with the property?
  • Do you have a rates notice?
  • Is the area serviced by public transport?
  • How do you find the surrounding region?
  • What infrastructure is in the suburb? This may include but is not limited to restaurants, shopping centres and recreational facilities.
  • What schools are in the area?
  • How does the sun affect the property?
  • What chattels/fixtures or fittings are include in the sale of the property?

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FOR SALE BY OWNER SERIES – Property condition.

Feb 14

Posted by NoAgentSales.com.au in For Sale By Owner Series | No Comments

What should you be looking for when you inspect?

Firstly, walk around the property to see if you can see any physical defects. Look for any structural problems such as cracked or leaning walls, rotten or damaged timber, evidence of termites in both the structure and gardens.

Ensure you inspect the wiring and plumbing of the property. This particular applies to older properties where  traditional methods of construction have been used and repairs can be rather difficult.

If you are serious about a particular property, conducting a building inspection is highly recommended. This can be included in the contract of sale.

Lastly, use your common sense when inspecting the property and ask the owner any questions you may have.

What do you look for when you inspect?

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Purchasing property privately – 3 steps to help you.

Dec 6

Posted by NoAgentSales.com.au in Purchasing property privately | 6 Comments

So you have decided you want to a buy a property without the use of a real estate agent, then there are a few factors you should consider.

1. Before you decide to purchase.

Purchasing property can be a complex undertaking and you should consider including in your purchase conditions a qualified valuation. Furthermore, you may wish to include a building and pest inspections as well as a finance clause if finance is required.

2. Expenditure during the process.

You should be aware that the purchaser of any property in Australia pays stamp duty on the purchase. These rates vary depending upon your state so check out the link below to a comprehensive calculator.

www.13beat.com.au/StampDuty

3. Settlement

The date for settlement generally will be agreed by both parties. The settlement will take place when the balance of the stated contract price is paid to the vendor. The buyer then receives title documentation and then can collect the keys to the property.

When one or more mortgages are involved the situation can be slightly more complex because the financial institutions will also be involved in the settlement transactions.

Do you have any further suggestions?

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Ever considered a house on the beach? Maybe the time has come to buy…

Nov 8

Posted by NoAgentSales.com.au in Coastal Real Estate | No Comments

Coastal regions are quickly becoming more popular than ever for buyers. People are seeking a change of scenery or that second home while investors are returning to the market in search of a bargain.

The current evidence suggests that the global financial crisis is passing and buyers are returning to the market with confidence. Real estate groups are suggesting buying conditions are optimal with low interest rates, growth in rents and housing shortages. Furthermore, the gap between rental income and repayments has decreased with the ideal situation being to invest.

All of these factors suggest that investing in real estate is the safe way ahead. There will be some great opportunities in the near  future with many taking advantage of this positive outlook.

What is happening in you area? Have you considered investing in real estate recently? Will the buyers market last?

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What are the key considerations when buying a property?

Jul 5

Posted by NoAgentSales.com.au in Key considerations when buying a property? | No Comments

Buying a property is not easy and one of the most important factors to consider when buying a property is position, position and position!

Here are a few ideas to run through before taking that plunge into property:

•    It’s a good idea to research proposed infrastructure developments, such as roads, bridges and residential developments, as these play an important role in capital growth.

•    You should consider the proximity to schools, shops and public transport. These are major factors that are often not taken into account by the prospective buyer. Become familiar with the neighbourhood if you haven’t lived there before. If you are not familiar with the region, drive around the area to ensure that you are happy with the surroundings.

•    Know how much you can afford to pay each week and ensure you will be able to pay more when interest rates rise, which there will in the future.

•    Furthermore, consider the other costs associated with the property such as rates, electricity, water, insurance and telephone/internet. Also, are these likely to increase while your own the property? What about the stamp duty? What about the costs of  a solicitor or licensed conveyancer?

•    Do you plan to renovate the property? What are the restrictions in your area?

•    If you are happy with the property, consider a building and pest inspection to set your nerves at ease.

•    Buying a property is probably the largest transaction you will make, so it’s important to get it right.

•    Lastly, don’t let your emotions interfere with your judgement when inspecting.

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