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Who's Who in Buying and Selling Real Estate

Who's Who in Buying and Selling Real Estate

date: None

Who's who in the Zoo?

An overview of the people involved in real estate.

 

Buying - The Buyers' Team

  • Purchaser/Buyer
  • Buyers Agent
  • Conveyancer/ Lawyer
  • Finance Broker

What the people on the Buyers' Team Do

  • Purchaser/ Buyer - Person buying the home.

 

  • Buyer's Agent -  person helping buyer source & negotiate sale.

 

  • Conveyancer/ Lawyer - person acting for buyer in legal capacity.

 

  • Finance Broker - person sourcing and completing application for money for buyer.

 

Selling / The Selling Team

  • Vendor/Seller
  • Selling Agent
  • Conveyancer/ Lawyer
  • Finance Broker

What the people on the Selling Team Do

  • Vendor/ Seller: Person who owns or is selling the home.

 

  • Selling Agent: person selling the home for the Vendor.

 

  • Conveyancer/ Lawyer: person acting for Vendor in legal capacity.

 

  • Finance Broker:  person sourcing and providing finance for transition to your new home.

 

  • Property Manager: Manages the tenancy and property leasing on behalf of the owner.

 

The Independent's

People that assist both sides in the transaction:

  • Pest and Building Inspector - the person/ company that prepares the building and pest report for the property.

 

  • Strata Inspector - the person/ company that prepares the inspection of records and report for the strata / community scheme.

 

  • Surveyor - the person/ company that inspects the boundaries of the property and defines the block of land / allotment for the property.

 

  • Strata Manager - the person that manages the strata fund and repairs of common areas on behalf of the owners within the complex (units/ townhouses/ villas and apartments).

 

  • Tenant - the person/ people living in the property that pay the owner to reside there.

 

  • Property Valuer - the person/ company employed by the bank to determine the value of the property in relation to the loan/ finance application submitted by the buyer.

 

 

 

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