Kiani Mills, 35, reveals five pitfalls to avoid when buying a new property
A mover who started a multimillion-dollar business empire after starting with a “$1,600 loan from grandma” has revealed her top tips for saving money while investing in real estate.
Speaking to FEMAIL, Kiani Mills, 35, outlined five mistakes buyers make that could cost thousands over time.
The first tip is to have all contracts reviewed “by a professional,” he said.
“This is a huge mistake that could cost you thousands,” he said.
“Big red flags can be raised when completing a contract review. Illegal construction work, incorrect curbs, construction faults, cladding, water leaks or municipal requirements.’
Kiani also advises clients to use a “business mind” when reviewing a property, rather than simply “falling in love” and being blinded to serious problems.

Mother-of-two helped people build impressive real estate portfolios by rebuilding their relocation empire from the ground up
“The condition of the goods on the day you signed the contract is the condition when it was delivered to you at the time of the contract. Your first inspection is your last inspection of the property, so inspect it thoroughly.”
‘Control the lights, windows, stove, gas appliances, oven, hood, shower, faucets, locks/keys, remote controls, air conditioning/heating – everything. If the contract is broken on the day you sign it, the contract will be broken instantly unless it is withdrawn,” he said.
Kiani also says it’s important to control the zoning of the property and understand what that means.
”Check the zoning, location and size of the property you are buying, especially if it is an apartment. “Some banks do not lend to commercial or mixed-use properties if the type of property you are buying is residential.”
“They also can’t give a loan based on the size of the apartment, if it has façade or construction defects, or if it’s located in certain areas.”

She will be forever grateful to her grandmother, who gave her $1600 to get a transfer certificate and start her new life.
Kiani says it’s also important to understand the auction rules when buying new property.
A 10% deposit is required on the day. No time to think, you can’t change your mind. The settlement date is negotiated after the victory. However, know the supplier requirements and be flexible.
“I once made sure that my client was the successful bidder at the auction, so I continued negotiations with the seller after the auction. It turned out that the seller needed a 30-day settlement as he had bought another property and had to agree settlement dates.
“My client had to sell his property and therefore needed a 120-day settlement. That’s why they couldn’t agree on the settlement date and the property was transferred to a large extent,” he said.
The fifth tip is to check for succession and if the property is already split.
“The easiest way to determine if the transaction is a little ‘different’ is to ask the agent what transaction the seller wants,” he said.
“It’s always good to make sure the terms of the transaction are the same as those of the sellers… But if the real estate agent says ‘property will be ready in *** days’ or ‘liquidation’, it can be expected in about *** months’. That’s good that there is no set due date yet. and therefore the date of payment may depend on the registration of the allotment scheme or be subject to the registration of the Succession Grant.
How to save thousands when buying a house:
1. Have your contract reviewed by a professional: Not having your contract reviewed by a professional before you sign it is a huge mistake that can cost you thousands of dollars.
Important red flags can arise when completing a contract review. Illegal construction work, faulty boundaries, construction errors, siding, water leaks, municipal regulations, etc.
2. Take off your rose-colored glasses: use your “business mind” when inspecting the property. The condition of the property on the day you signed the contract is that it was delivered to you at the time of payment. Your first inspection will be your last to see the property, so inspect it thoroughly. Control – lighting, windows, stove, gas appliances, oven, hood, shower, taps, locks / keys, remote controls, air conditioning / heating. If it breaks the day you sign the contract, it will be stopped at checkout – unless withdrawn. Ask your donor for a checklist to make sure you don’t miss anything.
3. Check the zoning, location and size of the property you are purchasing. This is especially important if it is an apartment. Some banks will not lend to a commercial or mixed-use property if the type of property you are buying is residential. They are also not allowed to give credit if the flat has any defects in its finish or construction, or if it is located in certain areas, depending on the size of the flat. The bank lends you money for an asset it holds. You need to make sure that the property meets your bank’s credit requirements. Especially if you plan to buy at auction.
4. Know the auction rules. A 10% deposit is required on the day. There is no time to think, you cannot change your mind. The settlement date is negotiated after the victory. However, know the supplier requirements and be flexible. If you are using a government filing plan, you may not be able to bid. If you do not yet have a 10% deposit, you may not be able to bid. If you do not have pre-approval or approval from your broker/banker, you may not be able to bid.
5. If the property has not yet been divided or inherited, this can be a very different transaction with different timelines and requirements – know what you are buying. The simplest way to determine if the transaction is slightly “different” is to ask the agent what transaction the seller wants. It’s always good to know this to make sure the settlement terms are the same as those of the sellers… However, if the realtor says “property will be ready in *** days” or “liquidation is expected in about **months”. This is a good indication that there is no set payment date yet, and so the payment date may depend on the registration of the allotment scheme or the registration of the Inheritance Grant.
Source: Kiani Mills
Source: Daily Mail