Buying or investing in property can be a bit of a tedious task – rewarding, but still tedious, nonetheless.
That’s because, for buyers, sellers and investors like you who want a great investment and home, the experience can be stressful, time-consuming and expensive. Choosing the wrong property is also a real risk too.
That’s why it’s important to be surrounded by the right team who will support you in buying and managing properties. They can do all the heavy lifting, so you have complete peace of mind that everyone’s collaborating to help you achieve your real estate goals.
Who is this team made up of?
Let’s discuss who to have by your side to help you take the tedious out of your property journey.
Setting up your Real Estate team
Whether you intend to buy, sell or lease a home, working with property professionals will enable you to make more well-informed decisions and avoid costly mistakes. Finding the right people will also allow you to sidestep the hassle and make the property process seamless.
Here are some of the people to get on your side and the roles they play to help you:
- Buyer’s Agent
A Buyer’s Agent (also known as a Buyer’s Advocate) is someone who acts on your behalf as a buyer. So, just like a Real Estate Agent works for the seller, a Buyer’s Agent works for a buyer. This person is committed to finding the best home and closing the best deal for you. All throughout the buying process, a buyer’s agent ensures that your interests are well-prioritised and can help you with guidance, negotiation, auctions, bidding and more.
- Mortgage Broker
A Mortgage Broker connects you with various lenders who can help you get the necessary mortgage loan to finance your property. As a third-party intermediary, they manage and submit all required documentation to get you the best deal from an ideal lender, and then settle your transaction after you buy.
- Building and Pest Inspectors
Building and Pest Inspectors are experts who check the physical condition of your property – from roofs, walls and floors to windows and doors. These people can also evaluate your electrical, heating, cooling and plumbing systems, providing you with a comprehensive report to help you understand any repairs that may be required. Their goal is to assist with the due diligence process of your buying journey, so you don’t buy a home with problems or pest issues.
A Conveyancer is a property specialist lawyer who deals with the legal aspects of buying and selling real estate, including checking over your contract and finally exchanging the contract for sale. They can organise council searches and check to make sure structures have been approved. This person guarantees that the transfer of the property from one owner to another is seamless and compliant with all applicable laws.
An insurance policy equips you with protection and financial coverage, just in case something unexpected was to occur. With the right property insurance, you have a safety net against the risk of monetary loss from your property. Most lenders will require a certain amount of cover and they will want to be listed on the policy as the mortgagee.
- Quantity Surveyor
Having an expert Quantity Surveyor by your side ensures that you can maximise your tax savings. If you have purchased a property that will be producing taxable income, it’s likely that you can claim depreciation. You need an accredited Quantity Surveyor to prepare a depreciation schedule, this document is Australian Tax Office (ATO) compliant and calculates precisely how much you can claim for the depreciation of structural elements (like bricks, windows, concrete etc.) and in some cases on the non-structural items such as ovens, dishwashers, carpet and blinds.
- Property Manager
If your plan is to lease your property, a Property Manager will oversee the administration, property maintenance and repairs, management of rent and compliance with landlord-tenant laws. This leasing specialist works on handling all concerns regarding your tenants to make sure you’ll have a lasting and profitable relationship with them.
With a qualified financial accountant guiding you, you’ll be able to leverage the associated tax benefits from your real estate, such as planning ahead for negative gearing and so on. Aside from making your numbers balance, having a trusted accountant is beneficial to keep track of your property’s financial statements, records and transactions.
Now you know who, it’s time to assemble your team! Remember that buying a property is one of life’s biggest decisions as it’s often the most expensive asset someone can own.
If you’re not sure who to talk to or where to begin, speak to us at Worth Property Investing. As a trusted Buyers Agent, we can start the property process and connect you with the ideal team of real estate specialists.
Worth Property Investing coordinates your Real Estate team for your convenience
Our mission at Worth Property Investing is to make your property experience easy and rewarding.
We coordinate all the support services you need from different real estate specialists, so you have one point of contact for everything you need.
Offering comprehensive property solutions, our “done for you” services help you save time, money and effort. With our wide network of trusted professionals, we’ll find the perfect people to make your property dreams come to reality.
Are you looking to buy a property?
That’s where I can help you! As your trusted Buyer’s Agent, I can find the right team that will set you up for success and make your journey smooth.
Here at Worth Property Investing, we also recognise the value of providing bespoke services to allow you to maximise your real estate returns – today and in the future.
So, let’s talk about your properties and the ways in which we can support you.
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