Top tools for buyers and sellers
So youve decided you would like to buy a property or maybe sell the house you are in, where to now? With all the resources available to both property buyers and sellers, it really doesnt have to be a daunting task. Adrian Goslett, CEO, RE/MAX of Southern Africa, explores some of the tools available to assist in smoothing the way to buying or selling property.
Gone are the days of wading through mountains of archaic print ads with a highlighter circling possible options and trying desperately to find the one property that matches all of your criteria. With the availability and access to technology that consumers have today, it comes as no surprise that almost 80% of all property searches start on the internet. The internet has a wealth of property-related information that can be accessed instantly and is a great tool for both sellers and buyers. Using the internet to do your research will cut down the viewing time and research aspect involved in buying and selling a property dramatically.
Buyers can simply set their specific search parameters, click the mouse, and literally search through hundreds of property listings. Property search portals will have all kinds of information and statistics on the top areas in which to buy and the average prices per area. Most sites will also have bond calculators to help you work out what you can expect to pay. This means that you will already have a good idea of what properties you can afford and will want to view before you have even left the front door, says Goslett. This also cuts down on the amount of time you will spend driving around to show houses, as you can develop a list of the top properties you have identified that suit your requirements online.
He says that for sellers, the advent of internet property listings gives each home for sale a much greater exposure to potential buyers, and therefore, a much greater chance of attracting a serious buyer.
FUNDING AND FINANCE
For the prospective buyer, partnering with a bond origination company will help to ensure that the bond application process goes smoothly. Originators act as a personal consultant between you and the banks to make sure that you get the best bond at the best possible interest rate, which can save you thousands of rands over the term of the loan.
Originators provide value to sellers too in that they are able to assist agents in qualifying buyers before they view a property, and with their expertise, assist in obtaining finance which lessens the chance of the sale falling through.
Bond originators provide excellent advice and have extensive knowledge of the various bank products and their loan criteria. Originators handle the application and paperwork, along with the motivation for finance for the buyer. Because they have relationships with the banks and know the bank systems, they are able to achieve faster results, says Goslett. He adds that bond originators offer their service free of charge to the consumer, so it just wouldnt make sense not to use this invaluable tool.
A professional estate agent will give valuable advice on current market trends as well as the changes in the laws that directly affect the buying and selling of residential property. With the large amount of money involved in a property sale, it is comforting to have someone who is familiar will all the different aspects involved in the transaction to assist you with the process, says Goslett.
Estate agents will also have a wide network of contacts and information and while you will have to pay an estate agent a commission based on the property selling price, given that they will market your property correctly, take photos, list your property in newspapers and on websites, arrange viewings and show days and manage offers, aside from all the advice and legalities they handle, it is well worth it.
When all is said and done, a seller is looking to have their property sold for a realistic price in the fastest possible time. And the buyer, well they are looking for the right property that suits their individual requirements and at the right price too. These tools will assist both the buyer and seller in matching all of these elements and ensuring a successful sale, concludes Goslett.
Article by: www.remax.co.za