select
|

Essential questions for buyers to ask their estate agents

While an estate agent typically represents a seller in any residential property transaction, they also act as a liaison between the buyer and seller and work closely with buyers to find them a suitable property and navigate the finance process among other services.

Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that it is just as important for buyers to have a good working relationship with their agent as it is for sellers. “Buyers need to be able to trust the estate agent they work with and be confident that they will get good, knowledgeable and professional insight into the areas and particular properties they are looking at purchasing, as well as general solid advice around the property investment.”

But, Justus-Ferns points out that in order to get the best information from an estate agent, buyers also need to ask the right kind of questions. She has put together a master list of questions buyers should ask the estate agent they are looking to work with to establish a good flow of communication and create realistic expectations:

About the timing

1.    Do you have a current fidelity fund certificate to operate as an estate agent?

2.     How long have you worked in the areas I am interested in purchasing in?

About the buying boundaries & timing

1.    How much can I purchase for?

2.    How long does it take to register a property?

3.    What is the transfer process?   

4.    Which properties offer the best value?
 
About the area(s)

1.    What are the best areas in which to purchase?

2.    What are the areas that offer the best return?

3.    In which areas have you seen the property values rise above other areas

4.    What is crime like in these areas?

5.    What is the traffic like in this area?

6.    Which schools would you recommend?

7.    Are there any land claims in the area?

About the property

1.    What are the transfer costs?

2.    How long has the property been listed on the market?

3.    What was the original listing price of the property?

4.    Why is the owner selling?

5.    How old is the property?

6.    What is the size of the property building?

7.    What is size of the land?

8.    Is there dedicated parking for my unit?

9.    Are there approved building plans for this property?

10.  Are there any defects in the property that I am to be made aware of?

11.  Are the municipal rates up to date?

12.  What are the monthly costs of the rates, water, electricity, sewerage, and refuse removal?

13.  Is the body corporate financially solvent?

14.  Will the seller repair any of the patent defects that are visible?

15.  What are the rules of the body corporate/home owners association?

16.  Does the property have security measures in place and is it linked to an armed response company?

In conclusion Justus-Ferns notes that the more prepared buyers are for the process and costs involved with buying a property, as well as specific details of the area they are interested in and property they are looking at buying, the less chance of buyer’s remorse or nasty surprises and the higher the chance of finding a property that is a perfect fit.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK