The service to expect

08 Jun 2015| Posted by: Geoff Baldwin

To help you construct your successful wealth creation plan, your chosen agent should be able to offer you or give you access to the following services; INDIVIDUAL ANALYSIS They should provide you with an individual spreadsheet guide allowing you to plan your portfolio to suit your individual circumstances. Should keep your plans personal & confidential. Importantly, they should not charge you for their service until your property is being managed - agents are usually paid by the seller. ARRANGE COMPETITIVE FINANCE They should have access to a reputable mortgage originator who can arrange a competitive loan package for you. In Australia, mortgage originators are now coordinating the majority of home loans. The better origination companies provide a free, in home service whereby you can assess the loan packages being offered by all of the major lenders. This alleviates the necessity to shop around all of the banks and it ensures that your application is presented in its best light. You can also be provided with a letter or certificate verifying that your finance has been pre approved. This pre approval can give you the power of a cash buyer, which can be very handy when you are negotiating your offer to purchase. ANALYSING THE CHOSEN PROPERTY Once you have found a property that you are interested in purchasing, your agent should assist you to project what maintenance items you may be confronted with over the next 3 to 5 years. The cost of these should be taken into account when you are negotiating the price. Also, prior to making you offer, your agent should assist you with a final computer analyses of the property. This will enable you to assess what is a fair price to pay and how much you will be investing on a weekly basis before and after tax. NEGOTIATING, CO ORDINATING & FOLLOW UP Your agent should be able to demonstrate comparative values so that you can assess what is a realistic offer. They should be able to prove average prices in your area of choice. They should ensure that the offer is written correctly Skilfully negotiate the price and terms on your behalf. And continue the excellent service by following up until settlement and beyond EXPERT PROPERTY MANAGEMENT All tenant applications should be systematically screened. You should be provided the option of having a photographic record of your properties condition prior to it being tenanted. All inspections should be completed on time and recorded against a detailed initial property condition report. Your Property Manager should communicate with you on a regular basis keeping you totally informed about all important aspects of your portfolio. And you should be provided with comprehensive monthly statements in regards to your rental income and expenses.