2 minute read
Buying a home is both terrifying and exiting. Knowing the answers will boost your confidents. KNOWLEDGE is POWER
1. What is the first step when you want to buy a home?
Mortgage pre-assessment Paying CASH?, then you are sorted, if you need a mortgage loan, the first step would be to get a pre-assessment done.
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2. How long does it take to buy a home? Answer | Around 6 weeks for a CASH DEAL, 90 days with a mortgage application
From finding your house, after offer (OTP) has been accepted you can calculate around 90 Days to registration.
3. What does your Estate Agent do?
Almost everything An Estate Agent is most valuable when buying a home. They will handpick a selection of properties for you, walk you through the process. They will represent you throughout the transaction.
4. How much do I have to pay the Estate Agent?
Nothing
The seller pays the estate agents fee.
5. What advice would you give for First-time homebuyers?
Trust the professionals Estate Agent that work in the area, knows the business. They are a well rounded source of information. Friends and family means well, but can leave you disappointed.
6. What Kind of Credit Score do I need, to buy a Home Answer | Minimum Credit Score in SA is 490
The Bank would offer you a lower interest rate, if you have a better credit score
7. How much deposit do I need?
It is wise to have some savings that you can use towards a deposit, should the bank decide not to offer you a 100% loan.
It depends on your credit score and affordability
8. What other fees are there?
You have to pay the bond attorneys fees as well as the conveyancing attorneys fees, before registration. Fees varies as the cost is directly linked to the purchase price
9. When do I receive the Keys
On Registration Unless otherwise stated in your Offer to Purchase, you will only receive the keys of your home on registration, which means you can move into your home, on that very same day.
Home Buying it an amazing JOURNEY an exciting achievement.
It’s NOT JUST ABOUT
Running the numbers. “For the biggest purchase of your life”. Make sure you have NO regrets, read all about the 5 tell tell signs
