Buying property can be quite a daunting and stressful experience, but not if you are sufficiently prepared. Research is a major component when it comes to looking for your ideal property – however you must firstly consider your needs, your budget and the amount of property available at this time.
- Speak with your financier or home loan consultant to organize the best loan that suits you. You must work out how much you can borrow, how much stamp duty you will pay and your mortgage details.
- Appoint a solicitor or conveyancer that can assist you as soon as you request a contract for sale on a property. If you are unsure of who to select, ask the real estate agent you are dealing with – they can usually refer you to one of their contacts.
- Invest some time into researching properties via the internet or print advertisements as well as attending open for inspections. This will help you obtain a feel for price. Look at locations that suit your lifestyle, number of bedrooms and also parking. Your Ray White agent will always be willing to answer any of your queries, offer you advice, make you aware of recent sales and any new listings that come onto the market.
- If your perfect property arises, the next step is to request a copy of the contract for sale that your solicitor or conveyancer can look over. It is also recommended that you arrange a building and pest inspection to make you aware of any defects or pest concerns.
- At this point of the buying process, you can then make an offer through the sales agent, and if the sellers are agreeable to your offer and all negotiations have been finalized, you will be required to sign the contract and pay a deposit. Your deposit will be held in trust until settlement has been effected.
- Before settlement day arises, you are able to request a pre-settlement inspection. This is to ensure that the property is in the same condition as when you last inspected it. Then when both solicitors/conveyancers have confirmed that the property has settled, you can collect the keys – finalizing the sale process, making you the owner of your dream property!
Ray White know how to help reach your property goals and can point you in the right direction when going through the buying process, assuring you that this experience is both enjoyable and rewarding.