Buying A Home

Buying A Home

Posted on August 1st, 2006 Huis-Huis No comments

There are many things more difficult than buying a home!

Some people get nervous and overwhelmed just at the thought of hunting for and buying a home. But it’s easy!

It is basically a ladder of events. One step leads to another. We hope to reveal these easy steps and make your decisions in buying a home even easier.

Don’t stop reading if you don’t “get” something right away. The steps become clearer as you view the bigger picture.

When you realize the advantages of buying instead of renting, you will hardly be able to wait to find your own home. You can start browsing at show houses immediately, but there’s some homework for you to do before actually buying:

Homework

You have to find out what you can afford, what you need from a home, what you would like from your new home and how you should own it before going house-hunting.

Choosing An Agent

The next step is to contact an agent or agents. You should be open and honest with your chosen agent, because the information you give him/her will determine the type of property they will introduce you to and the help he/she can offer you. Be sure to choose a reputable agent and be prepared to view as many properties as it takes to find your ideal home.

Making An Offer

The next step is to make an offer to purchase your dream home. A Huis-Huis agent will complete an Offer To Purchase document with you and explain every clause in the agreement with you before you sign it. This Offer To Purchase document becomes the sales contract as soon as the seller accepts and signs it. It is therefore very important that you fully understand the implications. If you need time to read through it, take your time before signing.

The agent will submit your offer to the seller and explain the terms in detail. The seller can now exercise one of three options: He can accept, reject or counter your offer. A counter offer is a totally new offer that cancels your previous offer. The seller in effect offers his house to you at the terms set out in the offer document.

You now have the same options available to you when the counter offer gets submitted to you: You can accept, reject or counter the offer. Negotiation is an important part of buying property. It is important to negotiate on all aspects of the sale. The price is not always the most powerful motivator. Placing yourself in the seller’s position can reveal his motivations to you.

It is important for you to realize that the agent usually represents and protects the interests of the seller with due regard for those of the buyer. Don’t hesitate to draw on advice and assistance from a knowledgeable and experienced source.

Applying For A Mortgage Bond

When the offer is accepted and signed, you would normally apply for a home loan or mortgage bond. Copies of the Contract Of Sale will be provided to the buyer, seller and lending institution, while the original goes to the transferring attorney appointed by the seller.

The Transfer

When the bond is approved and all other conditions have been met, the transferring attorney can proceed with the process of transfer.

As soon as transfer is complete, you will be the owner of a new home!

Buying A Home

Buying a home is exciting and should be a happy occasion. Whether you are buying your first, second or third home, there is a lot to be considered. At Huis-Huis we are ready to help you with all the advice and support you need. We are also dedicated to finding new ways to make your purchase an easy and joyous experience.