Dos and don'ts when buying or selling a property
| Do... |
Don't... |
| Do see your lawyer before you start the process. |
Don't sign anything without first seeking advice from your lawyer. |
| If you are buying do ask you lawyer about the different types of home loans and the implications for you if you should sell before the end of the loan term. |
Don't over-stretch yourself by borrowing more than you can afford to service in interest charges, not just now but longer term. |
| Do seek advice from your lawyer on the best method of selling your property: multiple listing, sole agency, tender, auction - remember, your lawyer gives independent advice. |
Don't sign an unconditional contract unless you are certain you want the property at the price contained in the agreement and you know you have all the required finance secured - and you've taken advice from your lawyer. |
| If you are selling, do shop around for a real estate agent with a good track record in selling property in your price range and knows the area. |
If you are buying don't be persuaded into buying something that doesn't meet all your needs. |
| Do check the property out at different times of the day, to ensure that the property gets the amount of sun you want. In winter you will often see the property at its worst. |
Don't be fooled by a recent renovation or redecoration designed to mask the flaws of a property. A property that is in its original state means you're not paying for someone else's "improvements" - which might add to the price but not the longer term value. |
| Do be prepared to negotiate to get the best deal for you - your lawyer can help with this. |
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Do be patient, and prepared to wait for that dream property.
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