Getting ready to buy property in 2016

Getting ready to buy property in 2016

The last quarter of last year saw more stock coming onto the market and this has continued into 2016 in many locations. New stock on the market can mean more options for buyers.

However, there is still a degree of competition between buyers and it would be well worth being ready to move quickly on a property should the right one become available.

Below are three things to make sure you have in place while looking for a property.

1. Finance
It might seem like a no-brainer, but make sure you have finance in place before you begin to look for a property. If your offer is accepted on a house, but your finance falls through, you are likely to lose your deposit. Therefore it is well worth ensuring that any finance needs are organised well before you find anything.

2. Legal
In order to make the process go smoothly it may be helpful to have a contractor ready to take care of the legal side of the transaction. Checking over the contract of sale is a vital part of buying a property and if something is missed you can have problems down the track.

3. Building and pest inspections
There can be a temptation to simply buy a property if it looks good. However, the untrained eye may miss potential problems with the house and this could cost thousands to remedy. Even if the property looks sound, make sure that you have the home checked over by a building and pest inspector – it could save you from making the wrong decision.

Posted by Charles Tarbey on 21/01/2016 at 9:00 AM | Categories:

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