A Thorough Property Buyer’s Checklist
Buying a property is a big step. It needs to be done with due diligence, which ensures you get your hands on the best deal in town. In this post, you will find a detailed checklist to follow when you intend to buy a properly.
Arrange Contact Details of Professionals
Buying a property is an extensive and intricate process. Therefore, you will be in need of hiring a few professionals, so this point must be on top of your property buying pre-checklist. A checklist will help you set the right course of action. Let’s start with the professionals you need to hire:
- Home inspector
- Real estate agents
Why? Here’s how each will help you with the buying process:
A home inspector lets you know about the existing and soon-to-occur flaws in the house. We will talk about it more under the heading ‘Home Inspection’ below.
Real Estate Agent
You will most probably start the process of property buying with the help of a real estate agent. If you can afford, it’s advisable if you hire a well-known firm, instead of an independent real estate agent.
Real estate transactions involve many legal processes and paperwork, which a common person can’t go through without professional legal assistance.
In general, a conveyancer comes at a later stage in this process, i.e., at the time of transferring the possession of a property from one person to the other. When you are buying a property, you may skip the services of a real estate agent, but you can’t carry out the procedure of conveyancing by yourself. Thus, you must contact a professional conveyancer. A conveyancer is instrumental in checking property title. So, hire a conveyancer at the right time. At companies like Place Conveyancing, you can find the best professionals, as they are specialists in conveyancing and provide online services.
Check the Title
A title is a formal document that shows the ownership of the property. In Australia, a freestanding house usually has a freehold Torrens Title. Strata Title shows the legal ownership of a portion of a building. The legal property ownership transference process may vary, so involve a conveyancer to verify the title.
You can notice visible problems like leaky or broken faucets, but the majority of faults are hidden in a property, such as poor insulation. A professional home inspection report will reveal you inside out details regarding faults in the property. The home inspector will check:
- Property’s compliance with Australian building code
- Moisture in the property’s basement and walls
- The condition of yard and garage
- Doors and windows
- Electrical wiring
- Plumbing system
- Roofing and attic
- Pest infestation
- Lead paint
Here a lawyer will help you. The legal paperwork may vary a little from one state to the other. The whole process includes the following:
- Contract Paperwork
- Land transfer
- Type of ownership
Proximity of Facilities
You need certain facilities near your house, especially if you have kids. You can ask the property owner, but you must prefer having a ride in the vicinity to check the proximity of facilities yourself such as:
- Recreational Venues
You must run through this property buyer’s checklist carefully before you jump to the final decision. Having evaluated all these aspects, it leads you to your gut reaction and preference. So, there is one last question you have to answer to complete this checklist and make the buying decision, that is, ‘Is it really the locale and house you want to live in?’ If you are all positive, you can go ahead. If you are still dubious having considered all things, you can reconsider the property options.