The Female Investor. Kate HillЧитать онлайн книгу.
recommend a strategy that suits you.
A growing number of mortgage brokers, accountants and even conveyancers are QPIAs, too.
SALES AGENT
These people get a bit of a bad rap, like used‐car salespeople and journalists, and most of them really are decent and lovely people with a job to do. Are there some bad apples? Of course there are. Are some better than others? Sure, but you can say that about every industry.
When someone wants to sell a property that they own they will likely engage a selling agent to do that for them. A selling agent has a legal obligation to act in the best interests of the seller. This is called their fiduciary duty. The agent would generally:
advise the seller on what price the property might sell for based on recent comparable sales
advise on and then handle the sales and marketing strategy
negotiate with potential buyers
often (but not always) handle some of the post‐purchase process, such as issuing contracts of sale and liaising with the buyer's mortgage broker and conveyancer to ensure smooth settlement.
When buying property, we can't always choose the agent we work with. The agent is chosen by the seller, not the buyer. You're simply choosing the property you're interested in and will then have to deal with the agent assigned to that sale. However, that doesn't mean they're not useful to you. A good agent will know their area inside out, will know many owners and sellers of property, and may have access to listings that haven't come onto the open market yet.
If you have a good relationship with local agents, then they can tell you when new listings come their way — sometimes before they're publicly advertised. So it pays to be courteous and treat them with respect, because you never know when you may need to negotiate with them. You never know when you may need them to present you and your offer to their client, and if they don't like you, they may not do that in a way most beneficial to you. So be nice!
CONVEYANCER OR SOLICITOR
A professional and licensed conveyancer or solicitor will handle all the legalities of purchasing or selling a property for you.
Signing that contract of sale to purchase a property is really only the beginning of the process, and there's also good reason to engage with them before you sign on the dotted line. The conveyancer or solicitor will handle a range of legal matters to ensure your rights are protected and you meet all your legal obligations, so that the sale goes smoothly.
Keep in mind that the conveyancing process is different in each state in Australia, so you'll need someone who's licensed to operate in the state that you're buying in. You will need to enlist their service to help check over the contract of sale and other related contract‐associated documents before you sign them. They can also help to advise you on the right clauses and special conditions you might want to add or take out, so, that you get the best possible contract terms to suit you.
A conveyancer's job is to:
carry out all the relevant searches required
prepare the settlement documents
conduct title searches (to ensure the property belongs to the seller and confirm whether any debts or liabilities exist on the property)
run local authority searches (to check whether there are any future plans to develop the area upon which the land lies, e.g. build a motorway or develop an apartment complex)
perform strata searches (if you're buying an apartment then you'll want to find out whether the building is running on a deficit or is able to sustain the running of the complex)
find out many more vital pieces of information and manage all the transfer documents
liaise with your bank or broker to ensure the property is rightfully and legally transferred to your name, or from your name if selling, on time.
A solicitor can also give you legal advice around ownership structures, which a conveyancer cannot. Check their quals before proceeding.
PROPERTY MANAGER
Property managers are the middle person between the owner of the property and the renter.
A property manager will generally:
advertise the property for rent
screen tenants
process tenant applications
manage rent paid
maintain and repair property
stay current with landlord‐tenant laws
keep property records
keep accounts.
However, before you've even bought the property, they can assist you in these ways:
evaluate potential listings
inspect properties on your behalf
advise on potential maintenance items
provide you with a rent appraisal on each property you're considering making an offer on.
Property managers are an invaluable part of the process, and it pays to have them on board before you start your property search. There's way more on these fabulous people throughout this book!
QUANTITY SURVEYOR
Quantity surveyors document and assess each asset within a property and calculate the depreciable value to ensure that the investor maximises their tax deductions. This would include, for example:
measuring rooms using a laser measurer
recording an asset's brand or model number
photographing improvements at the property.
The information they record from their inspection is used to prepare what's called a tax depreciation schedule, which outlines the depreciation deductions that can be claimed every year at tax time. It's a must‐have for every property investor who owns property of a certain age and can make a difference to your cash flow — especially in the first few years of property investment ownership.
BUILDING AND PEST INSPECTOR
A building and pest inspection is a vital part of the property purchase process that you can, and should, have completed before or during the process of buying; again, depending on which state you're buying in. The report will list any signs of termite or pest infestation or damage, and will highlight any significant building defects or problems such as rising damp, movement in the walls (cracking), safety hazards, or a faulty roof.
The inspectors will check and inspect things like:
the interior and exterior of the building
the roof space
the under‐floor space, if there is one
the roof exterior
the land on which the property has been constructed
garages, sheds, drainage, retaining walls, fencing etc.
You can also ask for a particular item or part of the property to be inspected, such as visible signs of asbestos or operable smoke alarms.
Building