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Checklist for Sellers & Buyers During House Buying – Part 1

Home buying and selling is often a complicated and long procedure. If you are not aware of the details, there is a chance of you being duped or misled by others. Therefore, read on below to find out what are the essential things both for a buyer and a seller. This checklist of sorts will guide you to making an error-free transaction when it comes to making one of the biggest purchases of your life.

Buyer’s Checklist

Let us start by elaborating on what the buyers should do on their end to make sure they are on the right. The following list of questions should help clarify.

Have you worked out your budget?

This is an integral part of house buying and needs to be carefully thought about since you don’t want to underpay or overpay at the same time. Both these things have an unwanted impact. For most buyers, answering this question means if you are eligible for house loans or not.

Have you selected your location?

This one here is quite simple and pertains to the area in which you have chosen to buy property. It is always better to have two or three areas of preference selected when going house hunting. This makes it easier for you as well as the agent since it narrows the focus.

What features do you want?

Make sure you have a clear idea about what you want in a house. This means you should be aware of how many bedrooms you want along with any other extra features.

Have you inspected other similar properties within the area?

This means that you must do your homework. Go for house browsing. Look at properties similar to what you want and check out their prices. This will give you a fair idea as to how much you should end up paying once your deal falls through.

Have you properly inspected the property you want?

Quickly paying for a house is something that should be avoided until the point where you have made a thorough inspection of the property you intend on buying. This means checking each and everything from noticing if the building requires fumigation or repairs to making sure that the light switches and taps are fully functional.

Is your payment ready?

This is to ensure that you have the payment ready to be deposited as soon as the deal is struck. This not only binds the seller but makes you responsible as well since you have initiated a transfer.

Have you made the final inspection?

Prior to depositing the money, one should always do a final inspection as a precautionary measure to ensure that you did not miss out anything in the initial inspection. This is to double check everything.

These are some of the things that you should keep in mind once you get into the buying of property. Stay tuned for Part 2.  What are some of the other things that you think people should be aware of? Let me know in the comments below or head on over to our Forum for a bigger discussion.

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