Who Needs An Estate Agent?

When we buy a property, we tend to use the services of an estate agent or realtor, and they perform many important functions. The downside of this activity is that we often pay quite a lot for their expertise. It is possible to buy your home without the help of these middlemen, but you should be very careful and follow certain best practices to achieve a successful completion. This article gives some valuable advice to those of you who are thinking of taking this alternative route to acquiring a new home.

Step One – Find Your Home

We often use the services of an estate agent to buy a home as well, but there are many sources that negate this interaction. Check the internet for websites that allow sellers to advertise their homes independent of other companies. You will be surprised to find out just how many people have started to take this route. You may also enjoy the flexibility of viewing potential homes without another person showing you around these properties. Nonetheless, you still need to find that perfect property before you can proceed with this activity. Ensure that it ticks all of the boxes and do all of the relevant budgeting before thinking about making an offer. If you are lucky enough to be entering a buyer’s market, take your time until you are 100% about your choice.

Step Two – The Contract And Offer

Once you have found the ideal home for you and your family, you need to draw up a contract offer for your intended purchase. You can find out how to create such a document by looking online, they are fairly simple to complete. It is best practice to show your contract to a solicitor before submitting it to the seller.  Ensure that you have the funds or mortgage offer in place before making the offer. You can make an offer in words before this step, and it will save time and effort in the long run.

Step Three – Details

not quite clear on the concept

Provided that your seller accepts your offer, there are still some very important steps you need to take. You should appoint a surveyor to look the property over and do not cut any corners on this activity. Check for any structural issues and ensure that the owner has not overlooked any problems that will detract from the selling price. If you unearth any of these gremlins, think hard about whether or not you wish to proceed with this huge commitment.  You can often get your home at a bargain price, but ensure that you get some accurate estimations before making a final decision.

Step Four – Completion

Once your seller has accepted your final offer, you can instruct your property lawyer to close the whole transaction. Your bank or building society need to be informed, and you should be looking at about 4 weeks before you can move in.

So Why Do People Use Estate Agents?

Although this method will save you about 5% on your final purchase, you should be vigilant with every step you take. Using an estate agent can remove a lot of the stress of this activity, the choice to use them is down to you – Good Luck!

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This post was written for us by guest blogger Ricky Nash from Prestige Home Builders, Melbourne. Ricky is a technocrat at heart and likes to write articles focusing on home improvement and property development.

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