So, you want to buy a house directly from the owner.

An avid reader asked this question. He wants to buy the house that he is currently renting. How does he approach this?

The moment you start thinking about buying a house, start saving. Get a separate account or investment and 🎶 let it grow, let it grow, you can’t reap what you don’t sow 🎶 (Google it – Lorax – sorry, I’ve got 3 kids).

It is just so much easier to approach this when you have a few ‘k’ in the bank.

Invite the owner for a coffee and have a chat. You want to know whether he is willing to sell, whether you can buy it, and then obviously, what the price is going to be.

• You are going to need an offer to purchase / sale agreement for the transaction and transfer.

• Now would be a good time to approach an attorney (back to coffee, coffee, coffee) who is also a conveyancer (fancy word for one who has passed a very difficult exam and does property transfers).

• The attorney will assist both of you with the process and how to approach it.

• You will need the contract before you can approach a bank for a loan.

Be pro-active. Be prepared. Where law and finance collide.