Essentials Cheat Sheet Part 2: WHO you need to know to buy!

Essentials Cheat Sheet Part 2: WHO you need to know to buy!

It’s all about who you know sometimes, but hey, sharing is caring right?

Who should be on your speed-dial list, or Favourite Contacts list (depending whether you are on iOS or Android of course).

Well, regardless of which OS you use, these same few people should appear there for ready, quick access. Call them at your own peril (just kidding!)

FAVOURITE CONTACTS

  • Estate Agents – Have the top performing agents in the area of interest on your contacts list for easy access. Ideally you’ll start to have a good relationship with them in the first place, so they’ll more likely take your call, or call you back. It’s invaluable to be able to contact them as soon as they’ve listed a new property of interest, or to contact them with further questions about properties you’ve visited.
  • Broker – I am a very big advocate of brokers. They work for you; you do not have to pay them. Sounds good to me! They’ll actively find the best rate and deal for you, because if they don’t close the deal, they don’t get paid. Be on good terms with them, and listen out. Often they have some excellent advice they drip in about the search. Remember, they’ve dealt with thousands of other buyers in the marketplace, they know a thing or two about properties and the markets.
  • Solicitor – Make sure you’ve got your solicitor or conveyancer close, so you can call them and ask them a few questions, or get 11th hour confirmation on a certain clause, or contract issue. A solicitor with the right skills can manoeuvre a deal in the right direction, with settlement times, deposit amounts, clauses, especially in the case of an off-the-plan purchase.
  • Builders – If you are buying land and building, have a contact at the home builder you’ve been dealing with. You’ll look at various different land releases, and land does not sit around very long. You’ll want to be able to quickly contact your builder with frontage information, caveat information, and contours to ascertain whether the build of your choice can fit on your potential new block with ease.
  • Pest and Building Inspectors – Often overlooked by new buyers in the market, make sure you’ve got a contact with local pest and building inspectors. For example if you were in the los angeles area termite control los angeles would be a good choice. In the case of buying an existing property, the extra dollar spent on checking the structural condition and the pest situation on a property can provide extra piece of mind, and uncover potentially dangerous situations on a property you are looking at. Often, an agent may provide a pest and build report at their open homes. I’d often advise you still get your own one done, remember the agent has a vested interest, you never know how thorough the agent’s report is. While unlikely, you could be left in a situation where you have a serious pest infestation in your new home. If this happens to you, you may have to seek help from professional exterminators. You may want to check out something like pest control services Carlisle if you are ever victim of a serious pest infestation.

Coming up later this week, my hottest tips to prepare yourself for the property purchase battle!

Photo Credit: Philip Rood (Flickr Creative Commons)

Author

Michael Turner is a Property Development and Analytics Specialist operating in Sydney's Growth Centres and corridors. He is a Director of YPI, along with several roles at property development firms and agencies. He can often be heard on various radio mediums talking about Football and Property. You can find him on Twitter @mturnerypi or email him directly at m.turner@youngpropertyinvestor.com

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