5 Property Pro's worth their weight in gold!
Buying a property can be a very detailed and complicated process that takes a great deal of effort to complete successfully.
If you have no experience with buying a property, you may find it difficult to know if
you have done everything right. The good news is there’s no need to do it on your
own. With the right team of Business Professionals on your side you can make the
whole process go a lot more quickly and smoothly, prevent expensive mistakes
and maximise the full financial benefits of making your property purchase.
So what kind of professional support might you need? Here are five Business
Professionals that can be worth their weight in gold to every property buyer,
whether you’re buying your first home, your next home or a property investment.
Building & Pest Inspector
When you’ve chosen the area that’s right for your property purchase, you should
take the time to find a Building & Pest Inspector who knows the area well before
you even start your property selection process. When you find a property that
you’re interested in buying, having your experienced Building & Pest Inspector
lined up will help you to move on it quickly and with the appropriate caution.
The word ‘caution’ is an important word to use here because not every property is
as good as it looks to the untrained eye. The rule of thumb when purchasing a
property is always to take a good look before you leap. Many unwary home buyers
have fallen in love with what they think is the perfect home, only to find out later
that it has expensive maintenance issues.
Solicitor / Conveyancer
A solicitor or conveyancer is required to attend to the legal formalities and prepare
all of the documents you need to transfer a property into your name and ensure
your settlement day goes smoothly. Their role is to be the champion of your legal
interests during the purchase process and that’s why choosing a good one is
important to your success.
First of all, your solicitor will be invaluable in helping you to understand the terms,
conditions and contents of any contract that you will be required to sign. If you are
intending to purchase at auction, they can explain the auction rules and
conditions. If you are building a new home, or if you are purchasing off the plan
from a developer, an experienced solicitor will know what you need to be careful
about, what to include in the contract of sale to protect your interests and help to
ensure that you end up getting exactly what you are paying for.
Accountant
A good accountant can be a huge bonus when purchasing a property, particularly
if you’re a property investor but also if you’re a first home buyer or an owner
occupier. That’s because understanding your own financial position is the most
important part of the property purchasing process. It helps you determine your
buying power, identify and plan for any potential cash-flow difficulties and ensures
you understand and can cover all the expenses.
A good accountant who is experienced with property purchases will help you to
maximise any tax benefits you may be entitled to receive. If you are planning to
invest in property, it is a good idea to consult an accountant about what the tax
benefits will be in your particular case and get advice about how to maximise them
before you even begin.
Real Estate Agent/s
It’s a great idea to find out who are the best real estate agents servicing your
chosen property market. Even though a real estate agent’s primary purpose is to
represent a seller in a property transaction, the really good ones will also be willing
to lend you their expertise in locating the right property for you – even if they don’t
have it on their books right now.
As a buyer, you will not pay a real estate agent for any services they provide to
you, as the seller is responsible for paying their fees. However, good real estate
agents will want to meet you and keep in touch with you because you may be a
prospective buyer for one of their future customer’s properties. They will take the
time to discover your needs and take an interest in what kind of property you are
looking for, making a note of your approximate price range and when you want
to buy. When an appropriate property becomes available, they will contact you to
see if you are interested. This can help you stay on top of new properties coming
on to the market in the areas that are of interest you.
Mortgage & Finance Broker
There are thousands of home loan products available and finding the one that is
exactly the right fit for your personal financial circumstances and goals can be a
confusing process. If you approach a bank directly, they will only tell you about
their own products. If you go online to do your own research on all the options,
you could be there for days and still be in the dark about which finance product is
the best one for you.
Some people just pick the loan with the lowest interest rate they can see and
never even find out if a different type of loan product could have saved them more
money in other ways.
A professional mortgage and finance broker is here to help you sort through all of
these aspects of choosing a loan. Our job is to find a loan that is exactly the right
fit considering your short and long-term goals, how much you can actually afford to
borrow and what you need to get out of your loan in terms of features and
benefits.
Consulting a mortgage and finance broker is usually free of charge. We’re even
happy to have an informal chat with you if you just want to test the waters about
getting a loan. Expert credit advice could make a big difference to your financial
well-being both now and in the future – it’s not only about your finance needs right
now.
If you need help meeting the right professionals for your property purchasing
team, we’ll be happy to provide you with some referrals. As mentioned, we’re also
happy to give you whatever information you may need about loan products and
their uses. So please feel free to call and chat with me today.
Lainie Poon at [email protected] / Ph 0413 011 543
www.kellywealth.com.au