The Smart and Easy Way To Buy Property
Searching for a property is a time consuming and arduous process, not to mention the stress of negotiating with pushy real estate agents. Even after months of researching and finding a property, you may not know if you’re getting a good deal. Or even worse, the property might sell before you even have a chance to inspect it. Select Property Finder can take care of the whole property buying process, saving you time, money and stress. With our 11 easy steps, we can find the perfect property, ensuring it suits your needs, lifestyle and budget and has the potential to increase in value over time.
1 – Initial Consultation
In the initial consultation with Select Property Finder, we will discuss your needs, expectations and preferences, including:
- Type of property: house, unit, duplex, townhouse, villa, Torrens Title or Strata
- Location: area, suburb, proximity to schools, beach, park, shops, transportation
If you’re looking for an investment property, we will discuss your long term investment plan. This step is all about understanding your expectations, so we can find the right property for you.
2 – Agree to proceed
If you wish to proceed with our service, a Buyers Agency Agreement, endorsed by the Real Estate Institute of NSW, is signed by both parties and an up-front Registration Fee is payable. This fee covers setting up costs, agreement costs, searches, property analysis, evaluation, reporting and communication.
The Registration Fee is not refundable, however the full amount will be deducted from the completion fee. At this stage, you can now sit back and relax. Select Property Finder takes care of everything for you.
3 – Search
Select Property Finder locates, evaluates and presents properties which meet your criteria and preferences, determined from the initial discussion. The search will include median prices, rental yield, vacancy rates, growth potential and demographics.
As a buyers agent, Select Property Finder has access to a large number of properties, not just the ones advertised by real estate agents. We work hard to find the property that suits all your needs.
4 – Analysis
Once we’ve narrowed down the list of suitable properties, each property will be individually analysed and evaluated in terms of:
- Type of dwelling
- Construction
- Condition
- Size and land dimensions
- Zoning
- Conditions that may affect the use of the land
- Comparative market analysis
- Property potential
If you’re looking for an investment property, we will also evaluate the rental potential.
5 – Brief and Selection
Select Property Finder will compile briefs on suitable properties and present these to you. The briefs will contain a description of the area, characteristics of the property and investment or value-adding potential. Once you’ve reviewed the briefs and selected properties of interest, Select Property Finder will provide in-depth information about each property.
6 – Inspect the property
A full selection of photographs will be taken of the property including any issues or items noted for repair. Depending on your location, you may also wish to inspect the property. Select Property Finder can provide further feedback and discuss any of your concerns on site.
7 – Report
If you are seriously considering the property, Select Property Finder will provide a full report outlining:
- Overview of the area
- Infrastructure in the area
- Statistical data
- Demographics
- Population
- Median house /unit prices
- Growth
- Vacancy rates
- Property description, construction and condition
- Land description, size, zoning, diagrams and considerations
- Current rent / potential rent
- Comparative Market Analysis including previous sales and on the market properties in the area which will assist in determining the price to offer
- Rent returns
- Asking price
- Overview of the property from an investment perspective
- Potential strategies suited to the property such as renovation, granny flat, additional house, development
- Recommendations
8 – Negotiation
Once you have made a decision, negotiation will be undertaken on your behalf to secure the property for you at the lowest possible price, with terms and conditions to suit your needs. You will be kept informed of all negotiations and discussions with the agent and/or seller during the process.
Each property, agent and variables are different, so the negotiation strategy will be determined on an individual basis. If the house you are interested in is being sold under auction, Select Property Finder can represent you. Read more about auction bidding and representation here.
9 – Settlement
Once offer and acceptance have been achieved, the contracts will be forwarded to your solicitor. We recommend Pest and Building Inspections for all purchases. These reports are forwarded to you and your solicitor; however Select Property Finder can interpret these reports on your behalf.
During the settlement period, Select Property Finder will continue liaising with your solicitor and the sellers solicitor to ensure that any potential complications are promptly attended to. We will oversee the whole purchase process including final inspection, right through to settlement. Planning will be undertaken for property purchased for the purpose of renovation or development, including quotes from trades, concept plans, surveys, planning.
For rental properties, Select Property Finder provides guidance to help you gain a tenant for the property in the shortest time frame possible.
Please note: all external consultancy fees are at the client’s expense.
10 – Coordination of additional services
If you require work to be done on the property after settlement, Select Property Finder can liaise with contractors and coordinate renovation works on your behalf. Select Property Finder has lasting relationships with everyone you need to get the job done, from tradespeople to town planners, surveyors and valuers.
Please note: all external consultancy fees are at the client’s expense.
11 – Value-adding options & Project Management
If you wish to add value to your property, Select Property Finder is happy to discuss ideas with you. Some possible value-adding options include:
- Cosmetic renovations
- Adding a room under the roofline
- Granny flats
- Furnished accommodation
- Student accommodation
- Subdivision
- Development
Select Property Finder can conduct development assessments and project manage the development process on your behalf. Costs for project management are determined on an individual basis.