Things you need to get in place before the property transfer
Category Newsletter
Tips for both buyers and sellers
Get the property basics done (on the house)
Buying or selling a property can be a daunting process. When thinking of buying or selling property, there are a wide variety of factors to consider, and knowing exactly what goes for what can take a lot of time and energy. With a bit of help, however, you can cover all your basics and leave the stresses to us.
At 3%.Com Properties, we help buyers and sellers make the best decisions regarding their property needs. However, some basic things need to be in place before you can buy or sell property.
Tips for Buyers
Make sure you can get a bond approved
When buying property, it is advisable to get a pre-approved loan from your Bank. This way you know what purchase price you 'qualify' for and determine your 'budget'/price class for properties to search for. Having a good idea of what you can afford can help you find the perfect home that much quicker. For a rough estimate on the repayments on a specific loan amount/bond, online calculators can do a lot of the hard work for you and can also give you a good idea of what extra costs will be payable in the property transfer process. https://www.property24.com/calculators/bond
Get a deposit ready
The larger the deposit you can afford to place on the house, the more likely it is that the bank will provide a loan to you (as their risk is minimised) . Typically, the minimum deposit will be around 10% of the property value. There are however banks that still provide 100% loans on properties.
Do your research
Consider the area in which you want to purchase and what you consider non-negotiable requirements (such as being close to a school or supermarket). Only consider houses that fall within your budget and requirements
Tips for Sellers
Make sure you know the value of your home
Your agent should be able to help you assess the fair market value of your property by conducting a Comparative Market Analysis (CMA).
Set a price
When setting a price for your property, consider any defects that you will need to disclose and whether it is worthwhile to fix the imperfections of your home. Not all renovations will significantly improve your value.
Get your home ready for viewings
When potential buyers come to view your property, ensure your house is neat and clean with a welcoming feeling (perhaps add flowers / room freshners)For a smooth transfer process that keeps more money in your pocket, contact us today.
3%.Com Properties - We know Property and the Law®
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)
Author: 3%.Com Properties