Tips to notice before signing the home buying agreement
Finally, you got the dream home which is as per your needs, suits your pocket and you like the location, design, neighbourhood and everything. But do you know – you should check the terms and conditions written on the legal agreement before signing the home buying agreement. Being an attentive buyer you should check these points, especially in the agreement. Though you can take help from the Property valuer Perth before signing the agreement they are the property industry experts and know all the ins and outs of the property market well.
Here are points you should keep in mind while checking the buying agreement-
Price of the house – The amount of the buying home is far different from the actual amount you pay to get the home ownership. Apart from the home’s price you to have to pay various taxes, utility costs like water, electricity, and parking space. Even you are supposed to pay registration fees, fees of the professionals like home valuer, financer, solicitor etc. Check the applicable charges part thoroughly. You can even ask your lawyer to help you with checking the agreement details.
Possession date – This usually happens when you buy the off-plan property. Well, agreement mentions the date of possession or tentative date of possession. But if the builder delayed the possession then you can ask the reason, even check the construction speed personally, You should put a pressure on the builder to make you available the building as soon as possible or on the time.
Size – Make sure your agreement holds the size of the house you are purchasing. Builders take the disadvantage of this particular clause like specifications, plans, and designs are tentative thus they make the changes in the size of the home as per their wish. You can check the size of the home committed at the time of viewing and what is mentioned in the agreement. You can also ask the builder from a minimum area or size to maximum area of the property. Even before signing the agreement you can ask the builder about the size and also you can make an enquiry regarding the property.
Carpet area of the property – Ensure the carpet area is mentioned in the agreement. You should make a purchase based on the carpet area. Carpet area is the area of the home which excludes the wall thickness, and balcony area. Basically, it is the place you can spread the carpet is known as carpet area. You can dismiss the agreement if builder provides you less carpet area than it is mentioned in the agreement.
Certificate of completion – Builder should give you a completion certificate when giving you the home. Make sure the agreement should contain the clause which says – Builder should provide you with the certificate while handing over the house to you.
It’s good to check these things before signing the buying agreement also you should ask about the building material will use in the construction, utility facilities and maintenance & management responsibility of the building. Thus in the future, you won’t have to feel any new surprises.
You can take help from the expert home valuer via home valuation services to know the value of the property you are going to buy.