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Using the Services of an Estate Agent
Buying a new house in South Africa or just looking
for a better home loan or
mortgage rate.
Using an Estate Agent
How can an estate agent help me ?
When you are looking to buy a new home, using the services of an estate agent can be very helpful. In fact we recommend you use the services of one, as they will advise you on all the aspects of buying a home. Just bear in mind that the seller usually hires the agent to sell his/her property, and therefore the agent is obligated to best represent the seller interest's.
But don't let this concern you, as all agents are bound by law to deal fairly and ethically with both the buyer and seller, so working with a good agent can save you a lot of time and a lot of headaches. We also advise you to do a bit of research of the area you a looking to buy in, if you have a good understanding of the market values of the property in that particular area, it will help you in making the right decision. Don't just accept any offer until you are 100% sure that it is what you are looking for and is within market value.
Advantages of using an estate agent ?
Once the agent has an understanding of what you are looking for and your financial situation, they can assist you in search, to help you find exactly what you are looking for.
The agent will personally search the areas that fit your requirements and set up meetings and appointments so that you can view the property. In most cases these appointments can be set-up after hours and on weekends, as not to interfere with your daily activities.
The agent will also assist in setting up an offer to purchase and present it to the seller.
The purpose of an estate agent ?
The estate agent is the middleman between the buyer and the seller. The agent will negotiate an agreement of sale that is suitable to both parties.
An offer to purchase is drawn up by the estate agent. Once it has been drawn up, it needs to be signed by the seller, the buyer and the agent. Once this has been achieved it becomes a legal binding contract of sale.
A commission is paid by the seller to the agent for the above services.
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