Look at these red flags when buying or selling a home

Grant Sime, Managing Director of Only Realty Group

“A lot of time and money is buying and selling a home. It’s a big investment and should not be taken lightly, ”she said.

As the rental property market unfolds, homes for sale are still in excess – both buyers and sellers risk ignoring warning signs to close the deal quickly.

“Rapid interest rates, job variability, and changing lifestyles over the millennium have all contributed to declining real estate sales – especially in the last few months.”

On the contrary, Smee announced that homes in certain areas of interest are moving faster – which means buyers must act quickly.

Making hasty decisions without doing your homework in any way is risky.

Buyer red flags to avoid

“Buying a home is not easy. It takes time and a lot of capital to do this. I recommend that they come home to their dreams.

He listed the red flags that buyers should know.

• Check for defects; “Ask to inspect the house once before making a purchase – during leisure. Minor issues such as broken door frames, cracked bricks, etc. must be registered as a prerequisite for the purchase. This means that the seller will need to adjust these before transferring. Some sellers are still hiding behind this article so the investigation is key.
• Prone to pressure; “Both the seller and the real estate agent want to sell the property as soon as possible, however, you need some time to go through the paperwork and make sure this investment is the right decision for you.
• Homework: “If a house has been on the market for a long time, it is important to look into all the reasons for this. You need to get rid of all the emotions in a logical and logical way as an investor. Ask yourself, can I resell this house when the time comes?”

Red flags to remove seller

“There are a lot of houses on the market and buyers are spoiled by choice.

The home ownership process can take about three months – from signing a supply to delivering a purchase key – a lot can be done during this time, he said. “So we often see buyers who are not pre-authorized and do not have the financial means to buy a home. This causes a lot of stress and heartache for the seller.

Like buying a home, selling a home is an emotional process. “Sellers generally invest fully in the process. A lot of money is tied up in the house and so it’s important to think logically and understand the process properly and work with a real estate agent before we make a purchase.

List the red flags that sellers should know as follows:

• Not all real estate agents are equal. “Find a trustworthy real estate agent with a good track record of your goals. They need to know what kind of buyer they want, what offer they are willing to accept and what is needed to ‘close the deal’. On the other hand, if you are in a hurry, if you are not detailed, and if you do not anticipate potential buyers, you may be wasting your time.
• Proper diligence; “Again, a potential buyer earns R60,000 a month, which is enough to get your home, but it lacks capacity or credit score. Here, the agent must clearly state whether or not he or she has received prior approval from the bond issuer. You can still offer the offer in the absence of approval but it is recommended that you do not raise your hopes until you have obtained a bank license.
• Flat buyers “Some rulers say what the agent wants to hear. They indicate that they are interested or need to talk to their spouse, but in reality, they do not know how to harass you easily. Instead of placing all your eggs in one basket when they are difficult to reach and without commitment, continue to push your home sales to other buyers.
• Suspension conditions; Doubts are a condition that must be met before a contract can be legally binding. “Before you sign, carefully check all the suspicious offers. An example of the usual doubt is the ‘buyer’ clause, which means that the buyer can only buy your home if they sell theirs. Is, ”Smee reported.