A real estate agent (REA) can help you buy your dream house or sell your existing home quickly. However, houseowners should take note that REAs’ do not handle the A-Z of real estate matters.
Here are some things that are out of an REA’s scope and how to deal with them.
1. RESOLVE YOUR FINANCES
Determine your current debt obligation for your house, if any, and whether there are any additional fees or penalties to pay by contacting your mortgage provider. It is also highly advisable to get the estimates on your moving costs in order to compute your budget. A good idea is to start researching early for the best mortgage deal, especially when you are relocating to a new home which you intend to purchase. To get an idea where to start searching, look up recommended mortgage partners on property websites, some of them may even provide free quotations.
2. HIRE A CONVEYANCER
Your legal representative is the one who ensures that you comply with the necessary rules and regulations; it is not part of the REA’s job to do so. You may not be able to instruct your legal representative until you have agreed a sale, but it is recommended to get them lined up. Lengthy delays can be caused by ineffective legal representation , hence strive to find a firm or individual who comes highly recommended to avoid waiting for longer than you need to.
3. COMPILE AN INVENTORY
You should list down all the fixtures and fittings that will be included in a sale such as kitchen appliances and light fittings. Include in the list items you would be willing to sell which are not part of the purchase price such as furniture or any item that is used as an incentive by including them as part of the sale. An inventory will give you time to research sensible asking prices and will avoid any confusion later, besides making things easier for your legal advisor.
4. SEE TO YOUR ADMIN
It is a good idea to prepare all the information a potential buyer and/or their lawyer needs well in advance. This includes basic questions which your lawyer needs to know such as dates, prices, names, any outstanding mortgage on the property and how you are being paid by the buyer.
5. CARRY OUT A TITLE SEARCH
It is important to find out as much as you can about the property and the land before you commit to buying it. This should include a title search (checking who legally owns the property and if anyone else has any claim over it). Your lawyer can assist you in obtaining important information from the local council on the land or property you wish to acquire.