Want To Make Sure Your Next Property Is Not A Lemon?
If you've ever bought your own property then you'll know that there are so many things
you need to look for to make sure you're not buying a lemon or getting ripped off.While purchasing a home or property is supposed to be something that is exciting and rewarding, on the downside if you get stuck with a lemon it could cost you a fortune in time and money to fix.
That's why a professional buyers agents can not only save you from potentially making the biggest mistake in your life, they will also do a very thorough job of inspecting your property and giving you a completely unbiased report detailing everything you need to know to make an informed decision.
For example, if you know that there are problems with the house and that the market value is not what the real estate agents are trying to convince you of, then you will have a strong negotiation strategy to approach the seller with if you decided you wanted to purchase the property anyway.
Here's what a professional buyers agent will look at for you when inspecting a property:
On arrival.....
- Check out the area to ensure the home conforms to the other homes in the area
- Ensure the other homes add value to your intended purchase
- Ensure the land is relatively level
- Check that drainage is good and that surrounding homes are not all higher than the home being considered for purchase
- verify that any outside improvements (eg garden sheds, garages, carports, etc) add value
The home....
- Check for safety switch
- Check for fire alarms
- Check hot water system for age and whether it is electric or gas
- Measure bedroom size
- Attributes of each room - Air conditioning, fans, flooring, curtains or blinds
- When the size of the house matters when determining the purchase price - try to verify the size of the house, were possible - it's always best practice to not just rely on a real estate agents point of view. We also try to get a floor plan when available
- Check any improvements are approved by Council - where possible
- Investigate evidence of structural damage or faults- were visible
- Check if the roofing is tile, colour bond or asbestos - where possible
- If the property has insulation
- check-out the wear and tear of boarding, guttering and downpipes outside the house
- Look at the condition of the paint, floor & floor coverings, wet areas, walls, roof
- Look for evidence of a leaking roof, i.e. stains on the ceiling and damp spots, mildew, etc
- Look in laundry, bathroom and kitchen cupboards for water issues
- Check taps for water hammering and leaks
- Check that all the electrical points, lights, and anything else that works of electrics is working, if possible
- Verify the tiles are solid and not lifting
- Look for evidence of white-ant activity
- Verify all fixtures (such as the air-conditioner, exhaust fans, ceiling fans, etc) are operating where possible
- Note the brand of cook top, oven and dishwasher
- Confirm exactly what is included and excluded in the property, eg dishwasher, remote controls, curtains, blinds, rugs, light-fittings, TV aerial, garden shed, outside cubby house.
- Look at what many need to be maintained over time and make a note of it - where possible
- Take photos of the good, the bad and the ugly for our clients.
- Take photos of up the street and down the street.
- Take note which way the house is facing - and impact this will have on living areas
- Take note of which way the outdoor entertaining area is facing
Some more things Buyers Agents do when Buying Property for clients
If the buyers agent is looking on behalf of a home buyer then they look at how it suits their personal requirements and meets their Property Goals.
If the property is being looked at buy an investor often times they will have a different perspective on what's importanti.e. tenants, possible growth potential, investor, probability of sale for the future and average growth of market in area.
This is only some of the things that a buyers agent will look at when checking out properties for purchasers - this is just an overview.
Then after all of this, it may be determined that the property simply does not meet the buyers agents expectations for their client's needs and requirements - sometimes they just know you can do better with your money!
Copyright (c) 2009 Michael Atma
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