7 experts you need when you sell or buy Brisbane property
Every property investor needs a support team to ensure they get the best deal when they sell or buy Brisbane property. Below is our list of experts that every investor should have.
1. Financial Expert(s)
Generally speaking, most property investors are buying or selling as they want to make money. To do so takes planning and sometimes, a bit of expert financial advice. For example, an Accountant can help you navigate the complexities of lodging your income tax return. Also, a specialist quantity surveyor that specialises in property depreciation can prepare your tax depreciation schedule. The ATO recognises quantity surveyors as one of only a few professions who possess the required construction costing skills to calculate the cost of items for purposes of depreciation. In addition, a financial advisor may be helpful when looking at your investment portfolio as a whole. They can shine a light on low performing assets and recommend strategies to boost your investment return.
2. A Mortgage Broker
As mortgages become more complicated and product offerings increase in diversity it can all get a bit confusing. Honestly, who has the time to analyse and evaluate all of these?! Engaging a mortgage broker can be a wonderful time saver when looking to buy Brisbane property using a mortgage. And it can save you money. Finding the right mortgage to assist with a property purchase is always a good choice.
3. Real Estate Agent
Whether you’re selling or buying property, having someone in the know can be a great advantage. Ever heard of an off-market sale? An off-market sale is a term used to define a property that is selling without any public advertising. These sales can present invaluable opportunities to purchase properties at much better prices than publicly listed properties. If you want to get warned of these “secret” sales you need to know your real estate sales agents. If you know what area you want to buy in, start contacting the local agents and tell them what you’re looking for. When you want to buy Brisbane property, wouldn’t it be great to only have to compete against a few other buyers?
4. Property Manager
If you buy Brisbane property and want to manage it yourself, all we can say is good luck! Property Management is tricky and there are a lot of risks involved if you don’t have the expertise. A good property manager can help you secure quality tenants, ensure rent is paid on time, keep your property in good condition, and save you time. Our property managers, Tracey and Nicole, have plenty of experience managing properties all over Brisbane. Plus did you know that the fees are tax deductible! But don’t take our word for it, your Accountant can talk you through this.
Legal advice when it comes to complicated paperwork always helps with getting a good sleep at night. Having someone explain the legal jargon in contracts of sale, mortgage documents and other paperwork is definitely comforting. It also helps ensure we understand what we’re getting ourselves into. Speaking of which…
6. Building Inspector
Before you buy or sell a property we always recommend getting a building inspection done. For a seller this can highlight any issues that a buyer may find with your property. This gives you and your agent time to prepare solutions for questions that may come from potential buyers in relation to these issues. For buyers, a building report is invaluable. Whether you’re a first home buyer or a long-time investor, knowing what condition the property is in will help you determine how much you will be spending on ongoing maintenance. And when you buy Brisbane property this is important as our sub-tropical city can present its fair share of challenges – structural damage due to termites, floods, fires, etc.
7. Pest Inspector
As highlighted above every property investor should be aware of the condition of their investment. Imagine listing your property for sale thinking everything is perfect, then having a deal fall through as rats have eaten all the electrical wiring and it’s going to cost thousands to fix! A pest inspection can ensure that you remain in control of negotiations and that no nasty surprises stuff up your plans.
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