There are many important decisions to make in buying or selling real estate.

Buying and selling a home can be a complex and time-consuming process. Even before you make the ’big decisions’ of which property to buy, which home loan to select, and which real estate agent to sell your home, there are many other important decisions you need to make. Doing some homework can help you avoid potentially expensive mistakes.

You are more likely to make the right choices if you know what you want; are informed about your options, shop around for the best price, and service or product that meets your needs; refuse to be hassled or hurried into a decision; read everything before you sign.

Be Informed:

Make a list of what you absolutely must have in a property so that you don’t get carried away and buy something that looks ‘great’ but doesn’t have what you really need. Make a “wish-list “also, so that these desired but non-essential items can be factored into your decision-making when you find them in a property within your price range.

Learn as much as possible about all aspects of the property buying and selling process. Find out all you can about the market value of property in your preferred area by attending auctions, speaking with a variety of estate agents, surfing the internet and reading newspapers for auction results and prices of properties listed for sale.

Shop around:

Apart from being informed about current market values, and what you need and want in a residential property, you will also need to be informed about the products and services offered by real estate agents, solicitors and conveyances, and loan providers. Shopping around is the only way of really knowing that you are getting value or money and that your needs are being met as fully as possible.

Don’t hurry:

Never rush or be pressured into making hasty decisions. There is a lot of money at stake – a lot of years spent paying off the mortgage. Make sure that you are making this commitment for the right property.

If you take your time and do your homework, you will feel more confident that you have found the right house at the right price, the right agent or the right loan when it comes your way.

Read before you sign:

During the buying and selling process you may come across several types of contracts such as loan agreements, listing agreements, sale contracts of real estate. A general rule is not to sign any document without reading and fully understanding its content including terms, conditions and fine print. Make sure that anything which has been agreed to verbally is put in writing; you will therefore know exactly what you are committing yourself to.

If something is unclear ask the agent to explain it to you. If you still uncertain, it is better to wait and seek professional advice before signing.

Source: Consumer Affairs Victoria. “Real Estate a guide for buyers and seller”

Author: Dianne Ray

I have almost thirty years in business management in the hospitality, tourism, hospitality, real estate and service industries and in education as a teacher in secondary schools and TAFE Colleges. I was born in the Western District in Victoria, my schooling was in Hamilton and Melbourne and my Tertiary Education was at Melbourne and Monash Universities. My family consists of 4 sons, 3 daughter in laws and 5 grandchildren. Over the last 9 years I made my home in Noosa, Queensland and since February 2011 have moved to Brighton, a suburb of Brisbane and contract to 2nd Avenue Realty as a licensed real estate agent. Selling residential property in the the Sandgate, Shorncliffe, Brighton, Deagon, Bracken Ridge and other areas. I also sell and market boutique accommodation properties, such as Bed & Breakfasts,Self contained Cottages around Australia on Over my life time I have travelled extensively throughout Australia and numerous times overseas. My interests are obviously travel, all aspects of sport especially golf, outdoor pursuits, fine dining, appreciation of wine and love meeting people. I gained my Bachelor of Education and taught secondary and TAFE students for a number of years and studied for my Masters in Business Administration. I have been self employed for the last 20 years comprising owning and operating an exclusive 4.5 star B&B; established an e-commerce business involving the hospitality and accommodation industry; in selling, marketing, training workshops, relief service and management. I changed my career path ten years ago and concentrated on real estate and business broking. I am a licensed real estate agent in Queensland. My involvement in real estate has been very satisfying and I enjoy the interaction with the buyers and sellers. In my role as a real estate agent, I am able to effectively fulfil the needs of clients and this is my passion, and to use my skills to obtain a win/win situation for everyone involved. I believe in the old traditional values of respect, integrity and genuineness and I am very passionate about helping people with their needs and I focus on listening to and genuinely helping my clients. I am a very honest, natural outgoing person who enjoys life to the fullest “My mission is to live with integrity and compassion and to make a positive difference in the lives of others”