SO YOU HAVE DECIDED TO BUY THAT HOUSE

ONE IMPORTANT THING TO REMEMBER NOW THAT YOU HAVE DECIDED TO BUY THAT HOUSE IS THAT YOU ARE THE BUYER, IT IS YOUR MONEY THAT IS BEING SPENT, SO DO NOT LET ANYONE INTIMIDATE YOU OR TELL YOU WHAT IS BEST FOR YOU. DO LET US, THE CONSUMER AFFAIRS COMMISSION, ADVISE YOU HOWEVER AND PROVIDE YOU WITH SOME GUIDANCE.

FIRSTLY, ARM YOURSELF WITH INFORMATION. READ ALL YOU CAN ABOUT REAL ESATATE AND FINANCING IN GENERAL AND THEN FIND OUT AS MUCH AS POSSIBLE ABOUT THE PROPERTY YOU ARE CONSIDERING. THIS MIGHT MEAN THAT YOU HIRE A COMPETENT PROPERTY INSPECTOR, CHECK THE INTERNET, AND SPEAK TO OTHER HOME OWNERS IN PARTICULAR THOSE WITHIN THE NEIGHBOURHOOD.

GET PRE-APPROVED. SHOP AROUND FOR THE BEST POSSIBLE INTEREST CHARGE, FIRST TIME HOME OWNERS ARE DEFINITELY AT AN ADVANTAGE WITH THIS AS THEIR RATES ARE TYPICALLY LOWER THAN REPEAT PURCHASERS. IN YOUR CHECK ASK ABOUT BANK FEES, PENALTIES AND REVIEW PERIODS FOR THE CONTRACT. WHEN YOU HAVE ALL THIS INFORMATION SUBMITT ALL THE REQUIRED DOCUMENTS TO THE SELECTED COMPANY AND ASK THEM TO PROCCESS YOUR APPLICATION AND LET YOU KNOW A HEAD OF TIME IF YOUR MORTGAGE WILL BE APPROVED.

HIRE A COMPETENT REAL ESTATE AGENT AND/OR ATTORNEY-AT-LAW TO REVIEW ALL DOCUMENTS AND TRANSACTIONS BETWEEN YOU AND THE CURRENT PROPERTY OWNERS. ENSURE THAT THESE PARTIES REPRESENT YOU ONLY AND NOT THE SELLER AS WELL WHILE THIS MAY ADD TO YOUR INITIAL COST, AS LAWYERS TYPICAALY ASK FOR A PERCENTAGE OF THE SALE PRICE,
BUT REMEMBER

YOU HAVE THE POWER TO NEGOTIATE AND IT MAY BE IN YOUR BEST INTEREST NOW TO PAY EXTRA AND ENSURE YOU GET VALUE FOR YOUR MONEY.

YOU MAY ENSURE YOUR LAWYER IS COMPETENT BY REVIEWING HIS/HER TRACK RECORD AND BY ASKING FOR REFERNCES FROM FRIENDS AND RELATIVES. A COMPETENT ATTORNEY BRINGS PEACE OF MIND AND PROTECTS YOUR INTEREST.

KNOW THE PROPERTY. LITERALLY! WALK AROUND THE PROPERTY AND LOOK FOR ENCROACHMENTS. MAKE NOTE OF ALL THE FIXTURES THAT WILL REMAIN AND THOSE THAT WILL BE TAKEN BY THE CURRENT OWNER.

REVIEW ALL DOCUMENTS YOURSELF AND ENSURE THAT AT CLOSING YOU GET A COPY OF THE TITLE AND INSURANCE POLICY, IF THERE IS ONE.

BUYING A HOUSE IS POSSIBLY THE LARGEST FINANCIAL DECISION YOU WILL EVER MAKE IN YOUR ENTIRE LIFE. SO WHETHER OR NOT YOU CHOOSE TO FOLLOW THE STEPS WE HAVE HIGHLIGHTED OR DEVELOP YOUR OWN GUIDELINE, DO REMEMBER TO SUBJECT YOUR DECISION TO CAREFUL THOUGHT AND MUCH SCRUTINY.