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The Devil is in the Detail

The Devil is in the Detail

  • 31 Jul 2017
  • Meg Georkas

You can fall in love with a property very quickly. You can even fall in love over the internet looking at your new house on a real estate site whilst lying in bed before you even turn up for an open house inspection. However, to make a good decision you need to consider everything about the property you are looking to buy.

Go and inspect the property on several occasions formally and informally at different times of the day, including on a weekend, and on a week night. Think about parking, noise, aircraft, neighbours, trees, dogs, floods and any planned council developments and building projects. Look for anything that is going to need to be repaired as you'll need to budget for that. If you let your love for a property cloud your analysis, you might not see what others see and that is going to cost you.

Formal Property Inspections

The property looks sound and solid so do you still need an expensive building inspection? The answer is Yes. An independent property inspection will reveal hidden future costs and reveal the full state of the building. It is advisable to have both a building and separate pest inspection carried out. A building inspection might, for example, highlight prior termite activity at the property but won't advise whether termites continue to be present.

If you are purchasing a strata property it is advisable to carry out a strata search where a consultant will examine and assess the interior and immediate exterior of the unit you are considering buying and also look at the records of the strata scheme.

Deciding on Type of Ownership

If you are buying the property with someone else, you will need to decide the type of ownership you will have. There are two types of shared ownership:

  • Joint Tenants, where the property is held by two or more people in equal shares. If one dies, his/her share goes to the survivors
  • Tenants in Common, where the property is held by two or more people in equal or unequal shares. If one dies, his/her share goes to a person named in his/her will.

Opinions are those of Meg Georkas and may not reflect those of others.

Highly Recommend!

Peter is an outstanding agent with many years of experience. He went above and beyond to assist with the purchasing of my property. He was always professional, reliable and helpful. In addition, he was efficient and punctual at all times. Thanks Peter for the great service, look forward to dealing with you again in the future.
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- Buyer
Armidale

The Ultimate Professional

Peter showed the utmost integrity, courtesy and professionalism in the selling of our home. He was never too busy to answer any question we had and kept us informed of all developments. We wouldn’t choose anyone else to look after our sale.
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- Vendor
Armidale

Exceptional advice, professional seller of our home

We have bought many houses, and sold many houses, but we could never imagine our home would sell so quickly. Peter reassured us from first inspection that he would find us the right buyer, the buyer who would love our home as much as we love it. Our home sold phenomenally quickly, the suited buyer was just around the corner! Peter was flexible with showing people through, and we really appreciated him touching base with us every step of the way. Thank you Peter, we couldn’t have asked for a better agent to work with us!
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- Vendor
Armidale

Great service from Peter and his team as always!

There is no hidden agenda with this agency, they try to make the best fit for your needs. This is the only agency in town that has always sent me through info about houses that I may like. Thanks H&H
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- Buyer
Armidale