Buying something can become very easy and effortless if you have the perfect professional help by your side. But the point that has to be notable here is that the professionals must be experienced and knowledgeable to help you overcome the problems that you can face when you want to buy a house.
House buying issues you can face
If you are first time buyers; then the problems that will be discussed below can magnify. This is because you will not know what to do and what not. You will also not know which scheme like Stop renting to own homes or others to choose from.
Approval of Loan
At times you done have the finance available to buy a house; for this reason loan can be applied to. But a major obstacle that buyers face is when the loan is not approved and to add insult to injury the application is rejected just when the deal is finalized.
Property not worth it
You must have decided to buy a very beautiful house just by looking at the pictures on the website or portfolio. But when you actually go to see the house after the deal is completed; the house is not the one you saw in the pictures.
Arranging for the Finances
You will need a large amount when you are going to buy a house. Buyers think that down payment and monthly instalment is the only money you need. But there are other expenditures that have to be considered like; closing cost, utility bills, the extra amount in reserve and the money for moving out and in.
Not understanding the Deal
There are many legal terms in a house buying agreement that are difficult to understand. The lack of understanding will make it ambiguous for the buyer to make the right decision. Many of the clauses are too technical and sometimes complicated that without proper help you can’t complete the deal.
Very low Credit Score
Many of the lenders have a strict policy of providing loans to those who have a credit score that is higher than 600. It is very hard to maintain this level of a score but not impossible. You have to increase the low credit score.
Not knowing to whom the property belongs
On many occasions the house is in the name of someone else and another person is selling it. If the seller is giving authorization on behalf of the owner then there is no problem. At times you don’t know to whom the property belongs to.
The condition of the house is the worst
Checking the house before buying is a very vital thing to do but imagine if you don’t have time to look into the house. There is no need to worry Stop Renting Bunbury and nay others like them have specialists who can thoroughly check the condition of the house.
Can Professionals help Stop renting to own homes?
Each and every professional who is well qualified to help in buying a house must be able to assist the buyers in purchasing a house under any scheme. The process of renting the house before you buy it is a good choice as you will know whatever pros and cons are there in the house.
Professionals who can help
In the beginning, it was mentioned that the first time buyers can face a lot of issues; but there are few problems that can second and third time buyers can also associate with. Both kinds of buyers will definitely need the help of the following six kinds of professionals.
A pest inspector has the expertise and education by which he/ she can tell which pest is affecting what part of the house. The inspection will include thorough checking of the roof, furniture, walls, cupboards, holes and most importantly the foundation of the house.
Conveyancer or a specialist lawyer
He/ she are specialized lawyers who have the duty of taking care of all legal procedures. A conveyancer is the one who also represents the buyer when he/ she are unable to attend the meetings with the buyer. He/ she will make sure that the property is legal and all steps of the transfer are completed.
A Property Accountant
Although a property accountant is the one who is best for investment properties you also need this professional because at several occasions management of the finances can become a headache. This kind of accountant has the ability to check into the buyer’s finances to see whether the buyer can afford the property or not.
A Real Estate Agent
Many buyers consider hiring a real estate agent as a waste of time and money. But it is a disadvantage in the long run. An estate agent will be a great help as he/ she can find you the best property with no strings attached.
There are many types of mortgages available in the market but to select the right one is really tricky. A mortgage or finance broker is the one who finds the most appropriate home loan with the easiest processing.
A Real Estate Financial Planner
No matter what kind of house buying schemes you are applying to like; Stop renting to own homes planning is essential. A financial planner will always give you the right suggestions and help you plan to buy the house.38