5 Important pointers when buying and selling property

5 Important pointers when buying and selling property

So you are ready to get into the property market? Here are five important pointers when buying and selling property. SELLING Appoint a compe... 5 years ago

So you are ready to get into the property market? Here are five important pointers when buying and selling property.

SELLING

1. Appoint a competent conveyancer with a proven track record;
2. If you sell via an agent, appoint a competent agent with a proven track record;
3. Locate your original title deed and keep it safe – your conveyancer will need to lodge it in the Deeds Office (if you have a bond over the property, the title deed will be with the bank);
4. Have your sale agreement checked by your conveyancer before you sign it;
5. Disclose any latent defects of which you are aware.

BUYING

1. Check everything that you possibly can on the property – open the taps, flush the toilet, switch on lights, lock and unlock doors, etc;
2. Make sure that any agreement regarding the property is included in the offer to purchase, e.g. if the pot plants are to remain, if a leak is to be fixed, if a room is to be painted, etc;
3. Have your attorney check the offer to purchase before you sign it, and make sure you understand everything in the agreement;
4. Ask whether there are any latent defects that the seller is aware of, and record it in the agreement;
5. Request a copy of the approved building plans and check them against the structures on the property.