Whether you are buying a home for the first time, or you are buying a property in Australia while living overseas, using the services of a buyers advocate from a company like Aus Property Professionals helps you to get the property you want with a minimum of fuss. The buyers advocate does the research, house inspection, and negotiation for you so what could possibly go wrong? Because this agent is doing the hard work that you would normally personally do, it is wise to be aware of potential issues in advance. This way you can have the ultimate confidence that using a buyers advocate is the best solution for your house purchase needs.
Read The Buyers Advocate Contract Carefully
As with any contract, it pays to carefully read and understand the contract between you and the buyers advocate before you sign it. In particular, look at what the contract says about:
- The fee structure to be charged for the services on offer. Is it a flat-fee structure, or is it a percentage based on house price?
- What options are available to terminate the contract if you are not happy with the service provided?
- What services are offered in exchange for the fees? Are you getting a full service that includes researching, physical inspection, and negotiation? Or are you just getting a negotiation service once you have identified a property you like? Fee structures vary so be sure to check with at least three agents to compare the price versus service offered.
The point about the fee structure is an important one, because this determines how much you are ultimately going to pay for the service. Choose a buyers advocate who offers a flat-fee structure. This means no matter what house price you are looking at, the fee remains the same.
Control Over The Price Paid For The House
Do you have fears that too much could be paid for the property when you are not personally controlling the situation? Buyers advocates can only act for you in a transaction, so there is no need to fear that they are not working in your best interests.
However, it always pays to get a second opinion on the proposed house price before the contract is signed. Whether you chose to hop onto the computer for an hour to do a comparison search of other houses in the area, or get a second opinion from a different real estate agent, doing your own research gives you peace of mind the house price your advocate recommends is one which is honest and fair.
Another way to be more confident about the house price to be paid is to think about the contract, and how it will be signed when you are ready to go ahead with a purchase.
When you are in the same country as the buyers advocate, this point does not apply to you. However, if you are using a buyers advocate to house hunt for you while you are living overseas, how do you go about having the advocate sign a contract on your behalf?
While a buyers advocate can negotiate a sale for you, and even bid on your behalf at auctions, they cannot sign a real estate contract on your behalf unless you have given them power of attorney to do so. A limited power of attorney can be put into place to allow the buyers advocate to sign real estate contracts on your behalf, and you can be very specific about under what circumstances they can do so.
If you have concerns about allowing a third-party to sign a contract for you, consider giving a power of attorney to a family member who is already living in Australia. This gives you the most control when entering into a buying contract from overseas.
By keeping these points in mind, you can use a buyer advocate service with confidence. Allow them to take the stress out of house hunting for you, and instead you can turn your focus to the fun activity of packing up ready for the big move.Share