Buying Advice
Decided to make the next step and buy a property, but not 100% sure how to go about it? Here are a few steps we suggest to help you find your way to purchasing that dream home.
- Prepare your budget
Find out how much you can realistically afford. Talk to a mortgage broker or a financial advisor, who will help you set your budget or try our on-line calculator as an initial step. - Prepare what you need
Preparing a clear picture of what you need will make it simpler to find the property you are looking for. Decide on which locations you prefer to live in and then decide how many bedrooms you need, what other features you need and whether you are prepared to renovate. - Ensure you have finance approved
If the property you have been looking for comes on the market, you want to ensure your finance is pre-approved. This will enable you to make that decision with confidence and you can make a move as soon as you find the right property. - Do your homework
We recommend that it is important to do your homework and research before jumping in. Once you have a good indication of what you can buy with your budget in mind, start attending open houses and auctions of properties that meet your criteria. - Speak with our agents
Ensure you give our agents a good indication of what you are looking for, as we can help guide you in your search, with our e-mail alerts of available properties that are currently on the market. - Obtain a copy of the contract
Once you have found a property that interests you, ask the agent to send a copy of the sale contract to your solicitor or conveyancer. They will be able to advise you of any issues you should be aware of and they may also ask you to arrange and conduct a building & pest inspection. - Submitting an offer
This can be done prior or once you have had the solicitor and any inspections carried out.. The final sale price will then need to be negotiated, which will have a cooling off period that applies unless you choose to waive this. - Purchasing at auction
If the property you have selected is going up for auction, you must bring identification and register as a bidder. Please Note: If you plan to have someone else bid on your behalf, then they need to have a binding authority form signed by you. Should the property not reach the reserve set by the vendors, then the highest bidder has first right of negotiation. Please ask our sales consultants who will be able to give you more information. - Deposit
Once an offer has been accepted you will need to sign the sale contract and pay a 10% deposit. The deposit will then be held in trust, in an interest bearing account until settlement. The interest earnt during the settlement period will then be shared between you and the vendor. - Exchange of contracts
Both the vendor and purchasers will need to sign the contracts of sale and the solicitor/conveyancer or agent will exchange the contracts. Standard settlement of contracts is generally around 6 weeks, however in some cases this may be longer or shorter but in most cases can be negotiated between both parties. - Final inspection before settlement
Your solicitor will normally advise that it is that it is necessary to conduct a pre-settlement inspection of the property a day or so prior to the settlement. This is done to ensure that the property has not been damaged and is in the same condition as to when you agreed to purchase it. It is also wise to ensure that all the inclusions meet what has been agreed to in the contract of sale. - Pick up the keys
Once an order on the agent is advised by the vendors solicitor, then you will be notified that settlement has been finalised by your agent or solicitor and your agent will be able to give you the keys to your new home. - No more Stress, simply move in and enjoy your new Home!!!