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Things you should consider using when Purchasing Investment Properties

Tuesday, September 09, 2014

The sale of a property within Australia will be conditional upon the execution of a building and pest report.

Not only does this protect the investor by making sure the property is structurally sound, but it also protects the lending institution, ensuring they do not loan money on a home that is possibly in structurally defected.

Even new properties can have serious building and pest issues, especially if the materials used were inappropriate for the construction, but used as a cost cutting mechanism by a shady developer.

Older properties inevitably have several possible problems that the buyer should be aware of from the outset.

Before you make an offer on a property, you need to have appointed a trusted and qualified building and pest inspector.

Why?

Because once you sign a contract on a home you usually only have 14 days before you are expected to go unconditional with the sale.

The building and pest inspector will report on the quality and condition of the property in question if the property is found to be extremely poor quality or perhaps has an invasion of white ants you will be glad, as a buyer, that your purchase was conditional upon a satisfying report from your building inspection.

A poor report can basically get you out of a sale that would be a poor investment decision within your portfolio.

Insurance will be one of your best pieces of ammunition in managing risk and protecting your assets.
An insurance broker will assist real estate investors to find the best-suited insurance product to cover them for liability.

There are literally hundreds of different insurance packages out there, and finding the right one at the right price to suit your requirements takes more effort than its worth.

If you let an insurance broker do the ground work for you, not only will they have a better understanding of your insurance needs and the players within the industry that can provide them, they will also save you time and will not cost you a cent.

The commission fees charged by insurance brokers come from the insurance underwriters, not the insurance customers this is very good news!

An insurance broker will be an incredibly useful member of your real estate expert team.

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