How to check if you should buy the house before leaving yours.
We find a lot of buyers (back when the world was normal), would rush around to 10-15 inspections on a Saturday only to be completely disappointed by about 90% of the. This is because they didn’t do their research before leaving the house.
We run a detailed analysis on every property prior to inspecting because we want to make sure that when we get there, there are only a few things we are looking for.
Now more than ever buyers need to be 100% sure they want to view the house before leaving theirs because of, well, obviously #StayHome.
We hope this list gives you a good outline of what to check out before you physically check out the property.
Google the address.
It’s amazing what a basic google search reveals of a property, scroll down the first and second page to see if there is any interesting information.
Most importantly go to the ‘street view’. Does the house have a speed hump right pr bus stop right in front? Is it on the corner of an intersection? What do the neighbouring properties look like? Is there a massive apartment complex next door? Is there a big tree in the front yard that the photographer has cleverly avoided in the facade photo? There are so many insights to gain using our old friend Google.
The photos
Photos are taken to lure buyers in, so they inspect the property, fall in love with the fancy kitchen, and get distracted by the slick hire furniture. We’re not mad at agents. This is their job, and the good ones do it bloody well.
However, there can be some hidden clues in those perfectly manicured photos. Are the blinds sheer or pulled down halfway? This usually tells us there is a neighbouring window or eyesore on the other side! Have the agents only provided 5 photos, two of which are bedrooms and no bathroom in sight? This typically means that the bathroom is dated or very small. If there is a lot of clutter in the property, it can tell us the property is tenanted. Ask the agent and find out what the rent is and the remaining lease terms. If they are on a month to month lease (this means you would need to give the tenants 65 days notice to vacate, and could settle with vacant possession on a 70-day settlement), or are the tenants in there for another 6 months?
The ad copy
Disappointed there wasn’t a dishwasher when you go to the property? Well, they probably didn’t mention one in their copy. Match the photos with the copy; are there ducts in the ceiling, but nothing mentioned about ducted heating or evaporative cooling? You can call the agent to ask for more information.
The zoning
When we used to sell real estate, we would have buyers request the contract of sale before even inspecting the property.. The contract of sale is a very important document which any buyer must get reviewed before buying a property. However, a few general checks on the internet can give you some basic information that will help you decide if you should inspect or not. Our advice.. Jump onto landchecker.com.au, search the address and have a look at the zoning of the property and surrounding area. Is the property backing onto a massive commercial zoned area? May not be the wisest purchase.
Any potential planning permits in the surrounding area
This is important to research because this won’t show up in the contract of sale. Head to planningalerts.org.au and type in the property address. You can sort the results by ‘closest’ first. If you want to be extra sure, you can call the local council and ask if specific addresses have planning applications on them. We would only suggest this step if you are planning on putting an offer in, after inspecting the property.
Recent sales in the area
This is to make sure the property actually fits your budget. We see buyers inspect properties all the time, that they simply can not afford. Again, the agent’s job is to get you, the buyer, to the property to fall in love with it.. an ‘attractive’ price range is just one way of doing this. Again, No Shade! It’s their job. They work for the seller. But do your research on what you think the value of the home is *approximately*. Of course, it will not be exact, because you have not inspected it.. But if you jump to the sold section of realestate.com.au and you can see homes with 1 less bedroom and 200sqm less of land are selling for the price the property is advertised for, you can assume the property will sell well over the advertised amount.
Happy hunting, and as always, we’re here to help. Feel free to get in contact if you want a free consult to chat through your purchase.
By Tabitha Robb