What do I need to buy a house?
What do I need to buy a house?
What do I need to buy a house? – Consider how big your home needs to be to suit your needs. How close do you need to be to schools, public transport, work and other amenities. In the far south you could be within walking distance of the beaches or have a house on the mountainside with stunning views. Consider asking Neil Parker Properties for a tour of the area, to help you decide on which suburb might best suit your needs.
Step 2: Do your sums
What do I need to buy a house? – Know exactly how much you can afford. Remember that together with the bond instalment, you should make provision for additional homeowners, household and life insurance. Feel free to use our bond calculator to calculate the bond instalment as well as the additional transfer costs, legal fees and bond registration fees.
Neil Parker Properties are real estate attorneys that market and sell properties from listing to registration all under one roof, which uniquely allows us to manage and advise you on all of your costs.
Step 3: Begin the search
What do I need to buy a house? – It is best to view as many properties as possible and make comparisons.
Do not guess or assume anything. Ask our property professionals as many questions as you can until you are totally satisfied.
Viewing the selected property several times may assist you in making your final decision.
Step 4: Making an offer
What do I need to buy a house? – Once you have found your dream home make an initial offer on the home. There are a number of factors to consider when determining the initial amount to offer on a home:
The sale price of similar houses in the neighbourhood for the past year or so will give you a good estimate of current market value. Neil Parker Properties will assist you with this information.
What is the mood of the market? Is it a sellers or buyers’ market? A sellers’ market favours the sellers and they are less likely to negotiate on their asking price. In a buyers’ market, when the house has been on the market for a while, or when the seller needs to sell quickly, the price should be highly negotiable.
The general condition of the house is also an important pricing factor. Information concerning things that need to be done in or around the building must be taken into consideration when making a price offer.
Step 5: When the offer is accepted
What do I need to buy a house? – You will need to sign an offer to purchase with the seller. This is one of your requirements to complete your home loans application.
Apply for your bond, if you haven’t had pre-approval. Typically, you will need the following documents:
- Proof of income
- A South African bar-coded or Smart Card identification document
- Copy of offer to purchase
- Proof of current residential address (municipal account, Telkom account or valid TV licence).
- Salary earners: most recent salary slip or banking statement for the last 3 months, a letter from your employer which will be followed by a telephone confirmation to your employer
Lastly, once your bond is approved, it’s time to relax and allow our highly trained staff to finalise the purchase of your home. At Neil Parker Properties if is our privilege to be with you for the entire journey and provide advice and support.