Here are the 7 Biggest faults people make when negotiating the purchase of a property.
1/ Contract signed not subject to finance or a favourable building inspection.
2/ Placing to large a deposit on the property.
3/ Not negotiating a long settlement .
4/ Not knowing what the true value of the property is.
Most people rely on the agent to establish a value on the property. Purchasers should use an independent property valuer to establish the value.
5/ Accepting a two working days cooling off period in contract.
In our experience two days does not give the purchaser enough time to establish a value on a property nor does it give you enough time to have a Building and Pest inspection done and then digest this information.
6/ Making the contract subject to the sale of an existing property.
Offers should always be on a cash basis.
7/ Making an offer on a property without any time limit.
In our opinion an offer should be for a short period of time so that the agent cannot shop the offer around.
Property Protect is an Adelaide Building Inspection Business owned and operated by Damian Swart who has undergraduate and post-graduate qualifications in the building industry.
Damian is a licensed general builder who has worked in the building industry for over 30 years and has a strong practical and theoretical background.
Damian previously operated a Building contracting business for 15 years.
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