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How to Handle Buying, Selling & Closing of the Real-estate during a pandemic

 If you are planning for buying, selling or looking home, you are not only the person who have this question in mind right now. Or a little bit shaken up.

Movement restriction, a diving finance market and about future income uncertainty, just because of coronavirus pandemics, & having un-pending plans to buy and sell a home in overnight. The activity of Real estate has been slowed down as the buyer, agents and sellers are trying to figure out the future path. Properties are still into a contract, but few more new listing is on the way to come in market.

Many people are afraid and nervous now. People are not coming with any offers in. What is the rate cute means exactly? People are also wondering whether they should sell or not.

Should Sell?

New construction or the new buying of homes will be not going to happen, said real estate agent and developers of Pune. Life will go on and people will keep moving, but it would be very different.

The agent has seen nearly done deals have been suddenly falling apart just because sellers got discontinue and he doesn’t know what does it means for their next purchase. While other people who were ready to give the offer even, they are not offering offer.

There is a fear among people and also there is awareness. Peoples are thinking about longer terms. But it says, if you see the past hurdles, it is a good time for the buyers to buy the new home with low-interest rates and it is a good time for sellers because of the low inventory. Even it is said that there are still bidding wars for some properties.

If you have a property that is priced well you can sell it now. Showing property has been dropped significantly off because of govt. has recommended staying home. Salespersons are not taking the risk to show the property to buyers. If you have listed it leave it.

You should not take off your properties from the market. In today’s scenario, there are more than ever people have time to look for the homes. People have more time to look at online properties.

Should I buy?

Let us make you understand with an example:

A & B were ready to purchase Property in Talegaon Dabhade, Pune. They deal was accepted two weeks ago, but when the seller would not agree for requested improvement – Rs.2,00,000 in new windows or to the lower cost. A got nervous and he pulled out losing with their inspection cost. They still visited many construction sites even though people were not been allowed to go out.

“But these houses have already had an offer on them”, A said.  “Even it was crazy. There isn’t a lot in this market, so maybe they are just trying to get a bidding war with going or secure a backup offer.

B said their status now as “xyzproperty”, it means they are paying the attention, but they are not taking any action.

“We need to decide whether we want to buy this right now, or we just don’t know,” said B. It is taking too long day by day or hour to hour.

Could I Close?

Closing is the main problem now, said many developers.

Social distancing rules and closure for business is making people required for property deal closing or to gather in a room. Plus, some municipal buildings are closed, which might not helpful for recording a sale.

But as much as possible people are trying to make the deal close. Some of the developers are recording the closing remotely or by appointment. But still, the closing is difficult because of the social distancing strictness.

It can become trickier of the lockdown situation increase, which decides peoples are not supposed to move out. Some developers are who already in the contract may not have thought of backing.

Already if the buyer has paid the amount, then the seller has to wait for more time for the remaining amount to be paid. Here seller can’t force the buyer to pay the remaining amount as soon as possible, because the time is unprecedented.

There are many rules, regulation, laws which are needed to be followed, and meeting them all is not possible right now.

Article

Steps to keep up good customer relationships in real estate field during COVID 19

Due to coronavirus breakdown, many of the construction sites are begin to close and practising social distancing, it is always important to keep the customers informed about the status of the construction sites. Sustain your customer during this crisis, maintain consistency in the communication for assuring them that your construction site is operating well. It allows you to connect with the customer even when you physically distance you from them.

Always learn the importance of bringing up your customer relationship during COVID-19 outbreak and how to be continuously communicating positively with the customers As you see in the market all the businesses are temporarily shutting down their doors, adjusting the hours or transitioning the work schedule full remotely, it's always important to keep the customers informed about how your construction sites is evolving during this crisis and what is your plan. It can assure the customer that your salespersons are responding, and due to which customers will continue to contact you. Always provide all the regular update about the real estate sector news with that also encourage the customer to continue with the thinking of purchasing their property, even it is downtime.

As you know your targeted customer are relaxing at home while in practising with the social distancing, you should find a way to keep the customers virtually engage and maintain a good relationship. Follow the steps to keep up good customer relationship in real estate field during COVID-19.


1. Deciding how would your business will respond to the virus:
Before you communicate with your customers and tell them your plan, first establish your strategy with your employees. Many developers are using various methods to respond to virus including with Online Property advertisement, telling to staff to work from home or staying back home with extra precautions.

Tell your employees to contribute something ideas for these situations and work on your current documents. Even host a brainstorm. It’s the time to tap your amazing talents to help this through a tough time.

Creating columns in a brainstorm or in your document for:
•  Emergency wins (items you should be working on like Creating/updating website, etc.)
• Medium wins (plans that can apply for next 3months)
•  List your property online
•  Long-term wins (opportunities for after COVID – 19) How would this crisis will change the future of your real estate business? How can you start planning now?

2. Customer communication for your response
Once you are ready with your plan, try communicating with the customers. Try explaining to them that you are taking necessary precautions to keep your construction site going on, staff care and building customers trust. Try creating all the necessary and potential channels available to you. It’s important to maintain the consistency across all the channel. It can tell this customer that you are taking all the necessary steps to maintain the safety measures.

Email and social media post should explain all your plan and how can affect customers. For e.g. You are starting with the new construction site and you to inform the customers about all the latest offers and let the customers how you are now working during this crisis. Get in touch with the old enquire with email and always be updated with social media, it can help you with the visibility in the market.

Always create a messaging channel for the following:
a. Social media
b. Website
c. Emails
d. Newsletters
e. Phone and messaging services
f. Updating of sales and marketing information.

3. Always make easier for customers to book online:
It is always important for you to attract the customers and explaining them about the ongoing projects and show them project online and make them to book or enquire online. With the help of the property portal, try advertising your property and reach as many customers as much for your Brand Awareness. Get in touch with the customer via emails/social media post. You can even discount and offer a special sale for customers. Doing this can help you to keep the engagement with the customers during this crisis.

4. Offers for customers:
As your customers are unable to visit physically on your construction site, give them another way. As you are a developer and you making the business in-person sales, urge the Previous Enquiry to purchase and avail the offer. Give some bumper offer like a car on purchasing flat, a bike on booking flat, and many other Offer. Customers will enjoy opportunities to support your business even when they can’t be into the person.

5. Start a live chat service:
Live chat could be the best way to get in touch with the customers personally. If you are ready with offering the live chat support, talk with your employees makes them ready for live chat support service and assisting the customer from home. This can make the staff be in touch with the customer personally with maintaining distance. Customers surely will enjoy getting in touch with someone while they are apart from family and friends.

6. Creating consultation video or make property information.
Nowadays, during this COVID-19 situation people are reading home and watching the news about the COVID-19 crisis. Getting their mind thinking more positive by creating helpful content. Make a video to create training for purchasing home or property based on your business. For eg. As you are a developer, make and post videos on how to purchase the first home or property online.
Creating and making videos allow your business to gain trust and build a relationship with the customer. Sharing such videos can take customers mind off from the current negative situation.

7. Give special offers and discounts use in future:
In today scenario it may be a challenge to make sales, encourage customers to support your business in future. Offer discounts or credits which can be redeem at a later date. You can also avail the offer on the website and try selling online. Customers always enjoy exclusive opportunities, so you should always make them feel special by offering loyalty programs and offers. This can help your business to gain more sales and maintain a positive interaction with the customers.

8. Updating social media Pages:
Now it is a great time to be always active on social media. Share images, videos, and provide coronavirus updates, or share the news. Posting on various medium allows you to build awareness and give your customers the value of your construction site. If your available online or offline let the customer should be aware of it, and what actions your constructions site is taking and when it will be completed.
Your business social media pages are the best representation for your business and brand. This is the time you can update the pages on each social media medium to establish the brand identity and build strong connections with the audience. You should write the quality content for the audience, brainstorm ways to communicate with the audience.

9. Keep Business Clean and Sanitized:
If your construction sites are regularly accepting customers, making sure you are following al the hygienic practices. It is always important to deep clean your business every after two days before reopening. Make the construction site visit more hygienic if you are providing a site visit during the lockdown. Try updating quality content on the website and updating quality images and informative images on social media. Provide mask, hand sanitizer while construction site visit. If you are giving a virtual tour to customers then the tour should be the quality tour. & if you providing online information about construction site uploading images which are of high quality and also upload videos of 3d model.


 

Article

6 things you should know about Real estate sellers during covid 19

6 things you should know about Real estate sellers during COVID 19:

Mr Narendra Modi, Prime minister of India has announced 21 days of lockdown by aming the coronavirus outbreaks, that seller should keep patience and avoid the panic selling.

Across the world, the nations are locking themselves down as their economies are suffering while the unmatched coronavirus crisis continues to claim more lives. This economy fallout of this crisis would also be the results in 2008 like recession, an only bigger one and mainly widespread says the expert.

Now, it is important to prevent and control the community outbreak in the highly populated country like India, buyer and sellers in the real estate sector should brace some laziness even when it gets over.

Due to market prevailing conditions, sellers those who have put they’re in the market have to wait for a longer time for selling their assets. Following are the few things that can you do for using this period to market your property. Very effectively.

1. Create your presence online:

A. Create / Update your website
Nowadays everyone in this lockdown staying back to there home and want to be safe from COVID-19. During this period, you can create your professional website for your business. Creating a website and maintaining your social presence can help you to create an online presence and reach to your target area. AS well as for the buyer, you can be available for 24x7.

B. Listing Property Online:
Simply list your property on the online portal where you can give all the details, instead of investing people for the property visit. Property portal can reach to more audience, other than any property broker.

2. Virtual Property Tour Video Creation:
Forgiving more details or view of your property, you can create the video tour of your property. It can be done with a camera or with a smartphone camera with decent picture quality. You can just upload the video with the property listing or you can just send it to potential leads.

3. Video Calling for Meetings:

A. Clients
You can meet your potential clients through e-meet for further discussion negotiation deal. Reach to the people who are interested in your property and discuss the prospects of buying your property now.

B. Employee
Make regular e-meet with your Team member and discuss further planning and staying in touch with the clients for closing the deals. You can also reach to many people who are interested in property online listing through your team and try discussing different prospects of buying your property now.

4. Engaging potential Customers:
Try engaging your potential customers who already visited your projects or showing interest in your project. Try engaging them by send daily updates, images, videos, useful info, emails etc. which can help you to be in touch with your clients.

5. Increasing your skill & Educating your staff:
Keep your self and your team engage by learning new skill and method to improve your sales and marketing skills. Actually, this is the time to learn, analysis, and making new strategy and planning for future opportunities.

6. Renting it out:
You can try renting out of your property for a shorter time, it can create a problem if you keep it vacant. You can lend your property to the needy people and use accommodation until the situation is back to the normal.

The seller should always remember that this is not the right to getting panic for selling property. You can just take a break from the selling and marketing process and start again once the market gets opens.

Property prices aren’t going to fall or rise If you are expecting property prices to fall because of less demand or rise due to expensive construction material, you should know there is less scope for the same. While this is a temporary period when the buying is almost stalled because of restrictions, tech companies are making use of virtual reality and augmented reality to make the most of it and luring tech-savvy homebuyers. For investors, this prolonged period of lockdown might affect their liquidity due to which real estate investments will take a hit.


Steps to keep up good customer relationships in the real estate field during COVID 19

Article

Selling a Property

1. Thinking while Selling Property

  • Planning while Selling Property

You should take some time to talk and think before you proceed towards the process to start for selling the property & you should think about the next step.

Summary you should know:

► You should have an idea of the value of the current market of your home before you start planning for sell. By researching online, you can get the idea, for the valuation of your property or by getting in touch with Property portals to advertise your property.
► You should always think about getting the best return on your property investment and get the best selling price.
► You should plan whether you gonna buy and sell the home at some time or selling the home and then waiting to buy the new property. You should understand the advantages and risks both.
► Examine how would you want to sell the property and when to decide the time constrains into the account.
► If your property is a part of the deceased estate, we should recommend you to talk to your lawyer.

  • Think for finance when selling Property

When you start planning for selling your property you will always need a budget with the number of costs, mostly if you are planning to buy any other property at the same time.

Summary you should know:

► You always bridge some finance which would be helpful if you planning to buy a new home before selling your property which you have now, likewise you should be always aware of the risk and costs.
► You need to pay the real estate agent’s commission from the deposit amount of purchase which buyer pays, the time you sign the purchase and sale agreement.
► On settlement day, the remaining amount is paid, it should be paid to the lawyer or the person who arranges the settlement.
► You should always check for if there is any tac should be pay while selling your property.
► While selling a property there are many costs which are added such as advertising, legal fees or moving expenses.

  • Build a Support Team while Selling Property

Process of selling property is very complicated. Because of which it is very important to have a good professional team for support while selling.

Summary you should know:

► Talking with the bank or the lender can be a good idea, there can be the implication to your lending if the property is sold.
► Before you decide to start selling your property, finding a lawyer or a legal advisor could be the best option. You can quickly sell your property if you have you the lawyer who can help you to understand the process and legal documents.
► Always find a property advertiser or the real estate agents who know the local market and property market locally.

2. Preparing to Sell Property

  • Preparing the property for selling

For making your home ready for sale, an Internet search will show you up the things which can help you. There are certain tips which we have collected for you.

Summary you should know:

► Thinking carefully for the major renovations. If you modernise the bathroom or kitchen, you may not get money back by tackling such big jobs. You should decide on a proper budget if you wish to go ahead.
► Majorly of the experts say there are many low costing activities like cleaning, touch-ups, repairs, etc. which can make a bigger difference when you make your present value for the sale of your home.
► Appealing streets is more important. You should make sure about the section whether it is inviting and tidy.
► You should understand everyone’s right and responsibilities, likewise, open communication is also required while selling a property.


  • Understand Property Selling Method

There are several methods of property selling. You should always understand the process of selling your property.

Summary you should know:

Property Advertising on property portal, price negotiation, direct selling, are some of the most common selling methods. These can of offer sales method would be commonly returning on purchase or sales agreement.
► Your lawyer or the advisor will talk to you about advertising property and getting leads. There are different agreements for property advertisement.
► In the method of property advertisement on the property portal. Buyer may get in touch with the seller directly and make many offers for purchase and sales agreement. You buyer can get the deal done.
► After the property advertisement, the buyer gets in touch with. And you tell the price of the property and the buyer will negotiate it. And after what you complete the sale.

  • Decide to sell property privately or by the agent.

Real Estate Agents always work for you, they know the neighbourhood very well and they know how to negotiate. Selling the property privately always save your commission, likewise, you should know what you do and about the risk factor.

Summary you should know:

► For selling a house, real estate agents are trained and have experienced. Real estate agents know the property market locally, and they know how to communicate and negotiate with the best possible price for the property.
► Each real estate agent has a professional license. Agents always work for you, the seller, and you have to pay a certain amount of commission which is a percentage based on the sales price.
► In case you want to sell your property privately. You need to list your property on the property portal, for which you don’t need to pay the commission.
► When a buyer gets in touch with you after seeing your property on the property portal, you have to show them property privately and always be in touch with them.
► You should always get the legal advice whether to sell the property with an agent or with a property portal.

  • Sell property after a natural disaster

You should understand the rights and obligations about selling the property after Natural Disaster.

Summary you should know:

► You should get legal advice and more clarification from the insurance provider before signing because there might be some conditions that could impact the sale.
► You should disclose all the important information about the property to the buyers.
► After completing the repairs., if there is an earthquake, then you should claim the EQC insurance to the buyer if possible.
► Repair the property, whichever part has been damaged under the insurance.


Sell Property | Post Property Ads for Sell in 4 Easy Step.

Article

How to Buy New Home

Steps to Buying New Home

1. Think of buying

• Thinking of your Goals

If the home is your first home, then the home buying process can be exciting. Before you start planning, take some time for thinking and talk about how could buying property will fit in your future.

Summary you should know
► You should carefully of your long-term goals and how will you get there.
► Always ask yourself why you buying home? You want to build or buy your first home, buying a bigger home or investing in rental property? 
► Deciding whether the buying is right for you. Will your renting will suit your lifestyle better in future?
► You should discuss your plans with Family, together if you are in a relationship.

• Think of Finance while buying Home

The first step towards purchasing of home for most of us is to save bank deposit or else taking out the home loan.

Summary you should know
Home loan is the biggest financial commitments you will always make. Before you take home loan always understand it’s important to investigate and understand the loan options.
► To first home buyers, most lenders ask 20% bank deposit before lending money to pay for the property.
► If you are buying your first home you are eligible for the government help. In your home buying process, it is always important to look at the early option because application processes take time.
► If you have help from your family & friends. There are many of the options to think
► While buying a home there are many additional costs.

• When buying Home Build your Support Team

Buying property is more expensive, if something goes wrong it can cost more. Because of which it is always important to have a good team of professionals for support.

Summary you should know
► Before you start looking for the property, find a lawyer or the advisor. Buying decision will move faster when you find what you like.
► Before you make an offer, we would like to recommend you to hire a qualified property inspector for checking a property.
► Paying to professionals for helping you is a good investment. If things go wrong, the cost of not getting sound advice can be very high.
► Remember one thing, real estate agents will always answer your questions, always keep this in mind they work for seller not for the buyers.
► For the home buying journey, taking help from the family and friends could be helpful.

• Understand Home Buying Process

If you haven’t purchase before, then buying a home can be a very complicated process. The buyer journey will guide sets out all the end to end process.

Summary you should know
► Planning & Thinking of buying? Agree on goals, sorted your finance and builder a supported team for helping you to make decision informed.
► Search property – try learning the languages of the property so that you will be better informed when you will visit the open homes.
► Property research – before making an offer do your homework and study the issues and hazards.
► Offer making – Understanding the method of sales, the offer process and the multi-offers; confirm your finances, ask for the title, offer to make and meeting the settlement condition.
► Move-in & Settle – always plan your settlement days, making a pre-settlement inspection, and always make sure that your insurances and finances are in the order before picking up the key’s ad move in.
► For more information download buyers guide.

• Buying Property in Pune

When you move to a new city, purchasing the property can help you to settle. Following are the key things which you should know while buying your home in Pune.

Who can buy property in Pune?
Generally, only the residents and the citizens of Inida can buy the residential property in the Pune, but there are exceptions. Find out the property in Pune on the Grow Empire website. If you are immigrating to the Pune, so you should also know the living cost as they may be quite different from your home town or home country.

The Pune Property Buying Process
Buying property can be very complicated, when you are not familiar with the process of buying property, and you haven’t been in Pune before.
In Pune, the process for buying the property depends upon the method for sale is used. We have more than 5000+ listing on our website you can go through it.

Types of ownership in land & housing styles.
Four types of land ownership
- Freehold | Leasehold | Title unit | Cross lease

Each to the land ownership has a different requirement and the restrictions.

Housing Styles
Villas, flats, duplex flats etc. are different types of homes in Pune. Each style has its own different characteristics and the challenges which should be aware of.

Expectations from the Real estate agent
In Pune, many of the properties are sold by the real estate agent.
Unless and until the agent is working with the buyer’s agent, they are always working for the seller. The seller always pays some of the money to the real estate agent when the property is sold.

Under the Pune law, real estate agents must: -
- Treating the buyer equally and fairly
- Informing the buyer about the defects in the property and agents should answer the question very professionally.
- Giving buyer a copy of the purchase agreement should be guided before signing the sales and purchase agreement – if you don’t receive one, you should ask for it.

Professional who can support you through the buying process
It is always a good idea that having the right people to support you for the buying process.

- Lawyer or the advisor to view all documents
- For telling the condition of the property you should need a property inspector
- Banks, lender if you need loan for buying the home.
- Valuever if you want to know about property value.

Hence you ask the agents or the seller if you have any question about the property you can ask it. You should you own research if your agents don’t have much information about the property.
The agent should have all the evidence of the property when he talking about the changes in the property. For example: - If the agent is agent is telling you that the roof of the house is changed, so you can ask him for the proof or the document for the roof changing.

2. Finding Property

• Property Options should be considered

Many people will love to buy a stand-alone house, but when you decide to buy property, but then there will be many alternatives to think.

Summary you should know

► What is your property need nowadays, and what is your property need next 5 to 10years?
► Priorities identification always helps you to figure out what’s negotiable and what you are willing to compromise on.
► You want to do work in your new property, or you want the property with all the work done before you purchase it?
► Always think about the place where you would like to live, is it location for you or the property itself is important?
► Are you interest in buying the undergoing construction property, or you want to purchase the property you would like to move it now? Are you interested in building the home, moving in a home, or downsizing to an apartment?

• Understand types of Property ownership

There are various types of ownership of land in Pune. It is a direct impact on what can you and cannot do with the property.

Summary you should know

► There are four types of property ownership in Pune – Leasehold, freehold, unit title and cross lease.
► Each has different types, restriction and responsibilities for the owners.
► Tell your lawyer and advisor for reviewing the record of the title. It is the legal documentation which contains the legal description of the property, details of the ownership and the restriction and right which are registered against it.

• View an Open Home

Going to open home or start searching the property online. Once you like something you start searching for the property in more the details.

Summary you should know

► Open home or viewing, you should have a good look around and check problems and make sure your needs meet it.
► Before buying process, it is always important to identify the problems and the potential issues with the property.
► You should get to know about the neighbourhood, what are the neighbouring property, look at what are the facilities which are close by and look for the public transport options.
► Always get professional advice before making an offer.

• Buying Privately or with the agent

It is always important and understands your rights and responsibilities whether you buy the property with agent or privately.

Summary you should know

► Real estate agents are well trained and have well experience in the real estate industry they follow all rules and regulation as the real estate agents. Agents also know how to take care of the client.
► Real agents always work for the seller for which agents gets paid from the seller.
► The agent should inform you all the problems of the property. & must not hold any details.
► Sometimes buyers called real estate agents as the buyer’s agent because they help buyer to buy the home.
► During a private sale, buyers and the seller get in touch with each other directly rather through real estate agent.
► During private sale, always make sure you and the seller signs the sales and purchase agreement, it will include all the standard obligations and the responsibilities for both the parties.
► In a private sale it is important to pay the purchase deposit to the lawyers and the advisor so that it can arrange and held safety for completion of the sale.
► Always get the legal advices for whatever you buy from the agent or privately.

3. Property Research

• Neighbourhood Learning

It is always good to have an idea of the neighbourhood before making an offer, whenever you find the property you wanted to buy.

Summary you should know

► Always check your neighbourhood and talk to your neighbours and make sure you’re happy with the area.
► Try visiting the property at different times of the day and weekends to check sun, traffics and activities in neighbourhood.
► Try getting in touch with the council of the area for the changes in the zones and nearby development plans.
► Learning about the neighbourhood cannot get more relevant information to your property. Try getting advice from the lawyer and the advisor and other registered professionals.

• Property Learning

Whenever you find the property you want to buy, it always important to find as much as possible before you make an offer

Summary you should know

► You should hire the property inspector and try producing property inspection report.
► Always look at the roof and find out the maintenance which is required.
► If the house has piles, check whether it is in good condition and well property-based.
► Pay attention to large walls when buying a home, retaining walls are very costly to repair.
► Look out for the sign whether the wiring is performing good, for examples flickering of lights and sockets are hot to touch.
► Also, check for the piping water. Some have limited life span and fail, leading to the flooding and leaks.
► Fences for the boundary are owned equally between the neighbours. You need to replace them if they’re not in good conditions.
► Check for the drainage in the property. If the property is in the downhill from the properties, find out the drain in the property you are interested in.
► Whatever the information you are trying to learn about the property may not be relevant to you or your property. Try getting advice from the lawyers and the advisor and other registered professionals.

• Doing Homework

Before making any offer, it is always important to read all the documents of the property, whenever you find the property you wanted to buy.

Summary you should know

► We would suggest you to catchup the lawyer and the advisor and search the title, which is a title search. The title should be specific to the property which you are buying and has record things which can have an impact on what you do with the property and any of the access you provide to others.
► Title of the property provide all the information which is of the property. It will have all the information. It consists of all the information for any work done in the property and it will also have the information such as the area of flood risk.
► Property file content the site map and the original plan of the house.
► There are many websites which can give you the estimated price of the property, by filling all the relevant information.
► Information which is collected during your homework, may not cover all the relevant information of the property. You should get advice from the lawyer and advisor or registered professionals.

• Learn of Leaky Building

It is a risk that it may a be leaky building, if the homes you want to buy is built till mid-2000s. The term is use for the apartment which is use as Leaky building. Getting all the information is must before you buy the property, because of which the buildings are very expensive to fix.

Summary you should know

► Leaky building gets more moisture between the outside and inside walls.
► Build having ahigh risk of leaking were build in 2000s using the plasters. The exterior walls are broken or the smooth appearance.
► If you are interested in house or the apartment with the leaky building, you should get independent inspection of the building or hiring an expert to inspect the property.
► When you buy a property you only know whether it is leaky or high risk of becoming leak, be aware of the risk to health and financial impact which may have.

• Learn Problem of Building Material.

If you buy the property which is made with the problematic material, we would suggest you for the inspection of the property.

Summary you should know

► If the property is built in the 2000s check the piping whether it is leaking
► Weatherised is exterior house plastering products popular in the earlier 2000s
► XYZ was the building material in the 1940s until the mid-1990s. It is found at property; you should get specialised advice on how much risk it is poses.
► Information regarding the problem building material may not cover everything relevant to the property.

• Understand Impact of Natural Hazards

Before making an offer before buying, it’s important to find out much about the potential hazardous, whenever you find the property.

Summary you should know

► Before you buy the property, always find out the natural events relevant to the properties and how you can reduce the risk damage.
► You should inspect the property which you are interested in and the area is impacted by the earthquakes.
► If the property is with claim of EQC, check EQC scope of the work what was done and seek legal advice before signing the sale and the purchased agreement.
► This information regarding the natural hazards may not cover everything which is relevant to property. You should take advice from lawyers and advisors or the registered professionals.

4. Making an offer

• Confirm your finance

Before your offers goes unconditional, check you pre-approved home loan with a bank or the lender and you find a home to buy.

Summary you should know

► Getting the pre-approval of the loan from your bank or the lender it means you can know how much you can spend, and you can move quickly for making an offer when you will find the home you like.
► Before confirming the home loan most of the banks or lender who gave pre-approved loans, will ask for the property information.
► Your bank or the lender likely need all the proofs, so that they will get to know you have arranged the insurance of the property before the settlement.

• While buying Home Understand the sales and purchase agreement

The contract between the buyer and seller is known as the sale and purchase agreement.

Summary you should know

► When you buy property sign a written sales and purchase agreement.
► You should check the agreement with the lawyer or the advisor before signing. You need to understand it and then sign it.
► You should get legal advice before signing the agreement throughout buying process.
► You are allowed for the negotiation in the sales and purchase agreement.
► Agent always help you and the seller to addup some condition you both always wanted.Agents always try to deal fairly with both seller and buyer. Agents can withhold any information, agent should tell you all the defects with property.

• Buying Home in Auction

Property auction, public sale and fast-paced. The property is been sold to the buyer with the highest bidding after seller price reserved is reached.

Summary you should know

► Buyer should registered with the agent and also ask him to informed if any other buyer makes an offer before the date of auction.
► Auctions bids are always open so you can know what everyone else is bidding. If you haven’t been to the auction we would suggest you to be the part of the auction so you can know how it works.
► In case if you win in the auction, then you are committed to purchase the property. And it is cimpulsion of paying the purchase deposit on that day.
► Reserve price wont be reveal by the auctioneer.

• Buying Home in Tender

When a tender sale the property, buyers should the confidential offer in written to agent before the date end.

Summary you should know

► If the seller decides to accept the offer, the property can be sold before the end date. The marketing should say “For sale by tenders” if early offer is accepted by the seller.
► Buyer should registered with the agent and also ask him to informed if any other buyer makes an offer before the end date.
► There is price indication from seller. Buyers can offer more or the less amount indicated.
► Buyers should attached the condition of their offer, for an example expiry date offer, property inspection report, valuation approved finance or selling property.
► Seller can attach the terms and conditions to the sale , like settlement date.
► If the buyer doesn’t meet the conditions or the needs more time, they can talk to lawyer and advisor as soon as the possible.
► After signing the sales and purchse agreement the deposit is usually paid. Purchase price reminder is due on the settlement day. Check the date of settlement and make sure you have finances and arrangement in placed before.

• Buy Home in Negotiation

During this sales method, there is no an end date for the offer, and make the potential purchasers makes offered by thinking the property and its worth in the current market.

Summary you should know

► The seller can choose to sell by using the negotiation process or method when it's difficult to estimate the property market price.
► If the property sold by the negotiation, the seller can set an asking price or different price range through which the buyers can choose to offer according to them and negotiate the sale. For offer, there is no end date.
► Buyers should attach the condition of their offer, for an example expiry date offer, property inspection report, valuation approved to finance or selling property.
► The seller should attach the terms and condition for sale for example settlement date with the chattel should be included.
► If the buyer doesn’t meet the conditions or the needs more time, they can talk to a lawyer and advisor as soon as the possible.
► Sale may become the multi-offer process if they're more than one offer.

• Understand the multi-offer process

When more than a buyer makes the written offer on a property.

Summary you should know

► There should be more than the offer in writing, if there is no offer written in writing, the agent can say you in multi-offer process
► During multi-offer situation, the seller can choose offer which works best for from numbers to offers.
► If you are a buyer during multi-offer process, you should put the best offer in front you cannot have another opportunity for increasing your offer.
► If you problem with the multi-offer process, you can contact and speak with the agent or the branch manager about the concern.

5. Settle and moving in New Home

• While buying Home plan for settlement day

Making sure everything is running smoothly, there are number of things you should do before the settlement day.

Summary you should know

► Inspecting the property before settlement day. It is pre-settlement inspection.
► Before settlement day you should make sure your finance for purchase is ready.
► For settlement, property insurance should be placed.
► Property settlement is a large legal process. Lawyer and advisor will help you.

• While Buying set on settlement day

Settlement day is the day where you pay the balance of purchase price and property will become yours.

Summary you should know

► During the sequence of the settlement day between the lawyer and advisor, the number of things should need to happen, seller, lawyer, and advisor, banks or lenders.
► You should plan when you are organising to move you in the new home, for example, you should think of a moving company for day rather settlement day.
► The settlement is managed by the lawyer and advisor, and there is not anything to do for you if all document have signed before. Your lawyer will pay the price of the purchase to seller lawyer or the advisor. Your lawyer or the advisor ensure the ownership for the property transfer to you and registering the changes of the ownership and mortgage on the record title.
► Your lawyer and the advisor will let you know once the document and payment is completed. After that, you can collect the key from lawyer or advisor.

• Get help if things go wrong while buying

Some of the time things go wrong while property buying. There are many steps which you should take and organise that can help you.

Summary you should know

► You should write down all the step from start to the finish, and make sure you have all the relevant documents, along with the emails, letters or the photographs.
► Always think about the outcome.
► Talk with a person or company which is involved. Explained everything what and when. Always remember that other party will have own version what happened there. Listen to it carefully and give opportunity for responding to reasonable timeframe.
► If the approach wont work, you can have a word with persons or the company compliant manager.
► There are many organisation who can provide help and advice further if you are not satisfied.


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