Buyer’s tips

In previous articles we talked about clearing your credit record and get your self pre-qualified as a buyer through a bond originator. Now that you know what you can afford you are ready to buy one of the biggest investments of your life.

As agents we know that some buyers prefer to shop on their own by going to show houses and view some properties by appointment whilst others wants a new home fast.

If you want to view properties on your own and don’t want to work with a specific agent it is a good thing to keep record of the properties that you have seen. It makes every agent’s task, which you come in contact with, a lot easier. It is our job to show you around. If you have a list of properties that you have already seen it really saves time and money for both parties if this could be determined prior to the view.

In the long term it would be better to work with one or two agents to show you around. These agents will get to know your requirements and what your likes and dislikes are and no time will be wasted.

By working with one or two agents, the agent can immediately determine where the schools and other important amenities are. Does the potential home have the necessary security that you needed? How far it is from your work etc. The agent can also rule out things that you don’t want, like not living in a busy street for example. If you don’t know the area well you will not know how busy a street becomes during peak hours.

Most common mistakes buyers make when purchasing their home are -

• Buyers don’t choose an agent before rushing out and look for houses.
  
• Buyers don’t apply the services of bond originators that are offered totally free of charge.
  
• Buyers don’t take into account the additional costs like bond registrations and transfer duty.
  
• Buyers sometimes don’t want to view a property because its outside appearance does not appeal to them.
  
• They don’t sell their home first before they go house hunting. When they see a house that they really want, another buyer with a cash offer on the same property can let them loose their dream house because cash offers is always more appealing to any seller.
  
• Buyers fail to establish a checklist and work through it to check that a potential home is sound and in order. Homes are sold “voetstoots” that mean “as is”.
  
• Buyers neglect to check out competing homes because they can learn pricing by comparison.
  
• When a buyer signs an offer and the seller accepted it without alterations it become a binding legal contract.
  
• Many buyers fail to start negotiations in writing when they find the right home and then another buyer can beat them to it.

Happy house hunting!