bank cheques

What everyone should know about buying a house at auction (part 1)

by Chris Lang on July 25, 2012
Thumbnail image for What everyone should know about buying a house at auction (part 1)

Even now, when the real estate market is slowing down, at least 50% of the houses are sold at auctions. This means that any home buyer should know exactly what to do at auction, what are the rules, understand and speak the language of auctions. Before I knew all the things you are about to learn, auctions scared the daylight out of me. Especially because of the huge amounts of money involved – every silly mistake can cost you a lot.

7 comments                                     Read more →

What exactly happens on settlement date

by Chris Lang on August 31, 2008
What exactly happens on settlement date

There are two important dates in the house buying process: the contract date and the settlement date. Contract date is the date when the vendor have signed a contract of sale or a contract note. In most contracts the house price is split in 2 parts, first the buyer pays the deposit (5 – 10 percent of the house price) and the remaining amount is paid on the settlement date.

5 comments                                     Read more →