Buying a property can sometimes be a difficult task, even for those who have bought houses before. After all, the family home is probably the most expensive investment most people own. The following information would assist you in this process and make your property acquisition less stressful.
* Have a handy note of what you would like your property to have or not have before you go looking (air-conditioner, garden, double garage, swimming pool e.t.c) That way you are able to avoid impulsive buying and focus on the needs.
* Ask the selling agent relevant questions before you put in your offer. Once your offer is accepted, it is difficult to back out.
* Put your best offer in because there might be other offers coming in as well. Your agent is paid to work in the best interest of the seller. He would obviously advise the seller to choose the best offer.
* Never expect any property to have everything you dream of. Be selective as to what is immediately essential and what can be added later. That way, you will not be disappointed looking in vain for what is not really there.
* Once you have been advised by the selling agent that your offer has been accepted by the seller and you are given a signed copy, do not delay in processing your loan. Otherwise, late loan approval could result in termination of the contract by the seller.
* Liaise with your settlement agent and do not delay in signing documents sent to you. You could be penalized if settlement is delayed by your lateness.
* If you are doing final inspection before settlement, allow plenty of time (approximately one week to settlement)so that any fault can be rectified in good time for settlement.
* Ensure that your property has at least two Residual Current Devices (RCD) and at least one hard-wired smoke alarm. These are now mandatory for all properties, old or new.
* Ask the selling agent to obtain instructions for you from the seller on how things work around the property (example: alarm, reticulation, pool pump, air-conditioner e.t.c). Test them and be sure they work during final inspection. Even if you are familiar with similar ones in your current home, do not assume that the ones in your new home are exactly the same.
* You might want to change the lock to the front door and other major entrances once the property is handed to you since you cannot be sure who has a set of keys or whether you have all the available keys in your possession. Just for your own security and safety.