Property
Tips for consumers when buying and selling a home
For both buyer and seller
- Take responsibility for informing yourself about what the home buying / selling process involves;
- shop around to find the advice and services most appropriate to your needs;
- keep yourself informed through the process. If you wish, you can ask the agent for direct contact with the individual on the other side of the transaction; and
- know your rights. There are redress schemes, covering some of the professionals you will deal with, and you can complain to them if you have a problem.
For the seller
- There are alternative ways of selling a house. You may find that using an online estate agent, selling at auction, or selling privately better meets your needs better;
don’t be shy to negotiate on fees and service levels; - consider providing information about the condition of your property. This might be a good way to signal that your house is in good condition or that you are being honest about any problems with your home;
- consider asking potential buyers to provide evidence of finance before accepting any offer; and
- you can help speed up the conveyancing process by getting information together early.
For the buyer
- The estate agent acts for the seller and not for you – remember this during any negotiations;
- get your finances in order before making offers. You can strengthen your hand in negotiations if you can provide evidence of your ability to finance the purchase; and
- the mortgage valuation is for the lender’s benefit and is not a full survey of property condition. Consider paying for your own survey.
