Pinnacle's Buyer's Guide This guide is to help your property buying experience anywhere in India, if not the world. It is for use whether or not you are working with a real estate professional and designed to save you time, money, and stress. ABSOLUTELY CRITICAL to all purchases is your due diligence, your duty to yourself to thoroughly assess your investment to be. INSPECT AND VERIFY all possible aspects and representations of the property. BE CERTAIN YOU HAVE RECEIVED ALL REQUIRED DISCLOSURES ABOUT THE PROPERTY AND UNDERSTAND THEM BEFORE SIGNING AND RETURNING THEM TO AGENTS AND SELLER. 1. Examine your motivation to buy. 2. Do as much groundwork and investigation of the property as possible yourself. Get market stats and sales records for the general area you are considering buying in so you know how things (prices, conditions, list to selling price ratios) stack up in your neighborhood. Allow yourself room to move inside your contract; ideally all points of negotiation are settled before both you and a seller sign your final agreement AND there will be many small issues that will arise inside of your transaction that you may need assistance with from the seller. Beware the seller that makes no concessions and will not compromise in common sense and fair ways. 3. Trust your own opinions and feelings about the buying process, the property, and the people you are working with. 4. Seek counsel from qualified real estate professionals; evaluate advice carefully. Take any opinion with a grain of salt; everyone has his or her own agenda. We all (people and professionals - ideally of the same species) make mistakes and can miss details; it is crucial that you ask all and any questions that you have no matter how small or stupid you may think the question may be. Do not be afraid to point out details that you think someone in your employ may have missed and ask about them. Remember that the professionals are still (hopefully) learning, too. 5. Obtain pre sanction financing whenever possible; you'll probably save a fortune. Shop for Rates 6. Think of the long term, short term, big and little "picture." 7. Visualize failure (not getting the property you want or getting it and then finding out that it's just not going to work) for worst-case-scenario exploration, then create your success. 8. Talk with the neighbors, take your time, work with people around whom you're comfortable. 9. Have fun. 10. Expect the unexpected. 11. Consider (your) resources, population growth, local, regional, and global trends. 12. Be prepared to take risks. 13. Remember: you are only in control of yourself - or not - and there are many conditions and circumstances in the buying process completely out of your control; accept these and sleep better. 14. Create and maintain goodwill. 15. Ask lots of questions. 16. Choose your service providers carefully. 17. Find all the boundaries and corner markers of your property, crawl around under the house, move stuff away from the walls, notice details; open every door, window, cupboard, attic, cabinet and look inside carefully. Turn on every switch, check every electrical outlet. 18. Specify in writing exactly what personal property is included with your purchase and make sure that it's there before you close your transaction. 19. Purchase Home Insurance, even if it is not mandatary. 20. Examine all documents very carefully and be sure that language cannot be interpreted to your disadvantage. 21. Do what you agree to do; act according to the terms of your contract. Similarly, pay very close attention to what people say and even closer attention to the written word; fortunately or unfortunately in the state of California spoken words do not hold water when it comes to real estate transactions. 22. Stay on the ball; remember your goals. 23. Be prepared to walk away from any transaction and move on to the next (and probably better) opportunity. 23. Avoid hostility. There is absolutely no reason for you or anyone to accept rudeness or abuse. You want to do business in a positive environment; negative and hostile clients are often litigious (meaning they will sue you if they can) and will bring you more grief than anyone deserves. 24. Ask for references. 25. Work to obtain and bind insurance coverage on your prospective purchase as soon as possible. 26. Be patient - and firm. 27. Celebrate your successes! 28. When you buy a property that has tenants that need to move out before you move in, make sure that your contract calls for the tenants' possession of the property to be terminated before the seller gets paid and your transaction closes. 29. Contact Pinnacle Realty for advice. 30. Listen, listen, LISTEN.... Pay close attention to all of what you hear... Actually, pay close attention to all of your sensory input from property, people, papers and professionals... Does the property smell good? What is that sound? what are those pipes sticking out of the ground? Why is it always windy here? Verify what? Trust me? Trust yourself. 31. Send me an email about what you think Buyers need to know. We would love to update this list and share with all prospect buyers. Email us at ram@mumbaiproperties.com -----------------------------------------------------------------------------------------------------------------------------
WARNING TO OTHER REALTY AND BROKER WEBSITE : DO not indulge in Blatant copy of contents from this website Every content here is Copyrighted and belongs to Pinnacle Realty We will pursue every case for infringment of copyright material from this site and initiate prosecution against offenders.
|