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You can read the transcript of the October edition of the monthly Intergate Immigration podcast below.
Intergate Immigration Service – Podcast October 2012 Edition
Hi I am Claus Lauter from Intergate Immigration, and as always thanks for joining me on our monthly podcast.
As promised this month I am going to tell you about how using the services of a property buyers consultant can help you find that ideal property in Cape Town.
Firstly Property buyers consultants are not a new concept, in fact in many countries such as the USA and Australia they are a common part of the property buying and selling process. In South Africa they are few and far between but growing rapidly in their popularity.
So what does a buyers consultant do
Buyers consultant don’t sell houses, in fact they do not even list them, they act only for prospective purchasers.
Lets have a look at how they work
The first and most important point to note is that true Property Buyers Consultants work only for the buyer. They do not market any properties and represent no sellers, this should include developers as well as private sellers. Nor should they be affiliated or owned by a selling agency. This is essential in keeping the impartiality that is so important to their ability to add true value to your purchase process.
We will explore more fully their service offering later, but most will offer two types of service. These obviously differ slightly from consultant to consultant but can broadly be described as:
1. A full search and secure service with legal assistance – here the buyers consultant is with you every step of the ways. From the initial fact finding exercise (as to your requirements), accompanied viewings, negotiations and legal assistance
2. A legal assistance and offer to purchase service – where you have found a property but require assistance in formulating the offer and terms and conditions.
In both cases they represent the buyers best interests and employ legal assistance on their behalf.
So why would you use a property buyers consultant?
Buyers’ consultants are property agents who are experienced in searching and securing property with the buyers interests at heart. They help the buyer to find that perfect house.
Below we talk through just some of the main points as to why buyers of Cape Town property should seek the services of a buyers consultant.
The difference in using a buyers consultant is immediately noticeable. They will not put glossy leaflets with glowing descriptions in front of you, in fact nothing but a plain piece of paper. They will thoroughly discuss both the requirements of the property you seek and the type of area you wish to live in. They will provide you with suggestions, question your assumptions, finalise budgets and agree the search criteria. As well as a series of consultations this process may also involve field trips, showing you other potential areas you may wish to consider or have not been aware of.
Only when all this is agreed will the house search begin in earnest.
Importantly they are not restricted in their search. Estate agents of course have no interest in giving you access to private sales or property for sale elsewhere that is not in their catchment area or ‘on their books’. As independents, appointed by you to look after your interests, buyers consultants will search the entire market place for suitable properties. The result a much wider and more encompassing search with no bias towards area or particular house or development.
Your appointed buyers consultant should accompany all viewings. They will provide unbiased advice telling you the bad points as well as good points. Of course it is your decision as to what you buy but you will be making that decision with the full facts in a measured manner, not because of some sharp sales techniques.
All offers to buy property in South Africa are made in writing via an offer to purchase. This is legally biding and has no cooling off period in 99% of cases. It specifies both the price and terms and conditions of the sale.
In negotiating price, the buyers consultant can really save you money. They know how long the property has been on the market for. They know how keen the seller is and how the area as a whole is fairing. At their disposal are industry tools showing historic sales prices, the original purchase price of the property and the bond registered against it. Their local knowledge is invaluable and as trained negotiators they take the emotion out of the negotiations.
As do the important terms and conditions, these are pre preprinted by the sellers estate agents, so you can guess whose interests they favour.
The importance of these terms and conditions cannot be stressed enough. They are the very legal points that will govern the sale of the property, and as mentioned before, there is no cooling off period applicable to an offer to purchase – once signed it is set in stone.
What many buyers do not know, or are maybe not told, is that these pre printed terms and conditions can be amended, crossed out and others added.
You are about to make one of the largest purchases of your life and I would suggest that if ever professional and legal assistance was needed it is formulating this offer to purchase and getting the content correct. Property consultants will provide this appropriate input and indeed consult with their retained lawyer.
Just from the the above points it is easy to see why a buyers consultant is so important to any prospective buyer of Cape Town property. A property buyers consultant provides the buyer peace of mind from a legal prospective, the satisfaction of knowing they are buying at the best price they can and that their property search has been extensive and all inclusive. All this and 99% of the time at no cost to the buyer.
If you want to find out more information have a look at www.sahomebuyers.co.za.
As always a big thank you to the regular followers of our podcasts, we thank you for joining us again this month. For those newcomers welcome and we hope to see you become a regular.
We look forward to seeing you online and at our next podcast when we are going to talk specifically about spouses and life partners of South Africans that want to live and work in South Africa.