The Estate Agent And The Purchaser

Buying the right property

Every purchaser of a home wishes to buy the ideal property at the right price and on the most favourable terms. An estate agent can assist the purchaser in achieving this objective. The estate agent must, however, have a good understanding of the needs, financial resources and motives of the prospective purchaser to identity properties matching the buyer's requirements as closely as possible.

 

It is of little use for the purchaser to be introduced to properties that he or she obviously cannot afford or that do not meet his or her requirements, such as price, size or location. When showing a property to a purchaser which does not appear to meet his or her stated requirements, a good agent will point out alternative features which may yet satisfy the purchaser's expectations.

Making an offer to purchase

Once the purchaser has decided to buy a property, the estate agent will fill in the necessary "offer to purchase: form. The estate agent will also assist the purchaser in applying to a bank selected by the purchaser for a home loan by completing and submitting all necessary application forms.

Should the application be refused, the estate agent should be able to advise the purchaser on alternative options to be investigated in order to obtain the required home loan.

Communication between estate agent and purchaser

Regular communication between an estate agent and a prospective purchaser will ensure that misunderstandings and later disputes are avoided.

Duty to the purchaser

An estate agent has both a legal and ethical duty to not make any misrepresentation about a property to a prospective purchaser. The estate agent is obliged to disclose to the prospective purchaser all material facts relating to the property that he or she is aware of including all defects in the property.

An estate agent is, however, not a construction expert so that, in appropriate circumstances, obtaining expert advice concerning the structure of a property might be necessary.

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