Property Investment – What You Should Consider
Take the emotion out When buying an investment property you should treat it as a business decision and not be emotional. A common mistake is that people buy a house…
The vendor ie. the seller of the property is required by law to make a declaration with all necessary information that all consumers should be aware of when considering purchasing the vendors property. This should be available from the vendors real estate agent when requested. You should use your legal advisors to make sure everything is in order.
It should contain:
The vendor ie. the seller of the property is required by law to make a declaration with all necessary information that all consumers should be aware of when considering purchasing the vendors property. This should be available from the vendors real estate agent when requested. You should use your legal advisors to make sure everything is in order.
It should contain:
If you feel you do not have the practical and technical knowledge required to perform an inspection yourself, get it done professionally. An inspection costs little in comparison to what you could actually save.
Professional inspectors will examine every accessible part of the home, including the roof space and sub-floor. They will check for poor structure, leaking roofing and guttering, subsiding footings, faulty wiring and plumbing, dampness, rot and many other faults. Comprehensive inspections will take 2 to 4 hours.
Following the inspection you will be given a report that will inform you of any property defects and faults. It will gauge the severity of these faults and a guide to the costs of repairing them. Inspectors can advise you on any home improvement ideas you may have also.
With this information you can decide to buy and will be able to negotiate more effectively.
HINT
Be present at the inspection so that you can visualise the faults personally and discuss any concerns you have with the inspector. Remember you have paid for the report the inspector should not give this information to anyone else or tell the agent of their findings. This report may become a negotiating tool for you and the agent is working for the vendor not you.
