Before you even have time to bid on a house or an apartment, go to the bank and talk to your adviser. You need to find out how much you can borrow and how you want to borrow the money.
The bank will ask to see your budget, your most recent annual statement, and possibly your last three payslips. If you buy the home with a partner, the person’s papers must also be placed in the pile. Then the bank starts calculating how much you can borrow, and they look primarily at two things: your available amount and your debt factor. Go for the Bandar Utama house for sale in this case, please do not confuse this with Bandar Kinrara Puchong property for rent.
- The available amount is the amount you have left each month when all fixed expenses have been paid; i.e. money for food, clothes, cinema trips, etc. The higher the available amount, the more money you can borrow.
- A debt factor is a number that tells something about how much you owe in relation to how much you earn. All loans are included here, e.g. car loans, student loans, overdrafts, etc., and the lower the number, the more creditworthy you are in the bank’s eyes.
When talking to the bank, be aware that they obviously want to monetize your loans. Therefore, you can advantageously be skeptical about the loan proposals they present to you, just as it often pays to ask several banks, so you have something to compare with.
The real estate agent
Although more and more homes are sold through self-sale, most home sales still go through a real estate agent. You can use the respective brokers’ websites to search for homes or you can contact a broker in the area where you want to buy a home.
Once you have found a house or apartment you would like to see, you make an appointment for a showing, and in that connection, you will be sent the sales list, the condition report, and other important documents. Together with your own assessment of the home, the documents are the basis on which you must negotiate price; there are many things that need to be put in order, you may get a rejection.
As with the bank adviser, keep in mind that the real estate agent is not working with your interests at the center; he or she is the seller’s husband and therefore wants to get the best possible deal for the seller. Not for you.
The construction technical consultant
Even if a condition report accompanies the sales list, it can be a really good idea to have a construction expert go out and see the home before you sign a purchase agreement.
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