Buying Tips

A Quick Guide to Buying A Home

Buying any property is an exciting time, not only are you purchasing an asset, buying signifies the move toward the next chapter in your life. The team @ Real Estate will give you the personalised attention you deserve and help you take control of your future. Armed with an advanced range of resources, tools and technology, all designed to help you find the perfect property. 
In our experience there are a few simple steps you can follow to secure your future. Remember the team at @ Real Estate will be here to help you every step of the way.


Get the Right Advice

It is extremely important you have a team of reliable professionals on your side and you communicate your intentions clearly with them. True professionals will genuinely want to help you achieve your goals and are easy to work with a. 
Your team should include;


A personal Property Consultant:
A Real Estate Agent that understands what you are looking for.

An amazing Accountant:
If you intend to buy property to sell or rent, you need to consult your accountant first.

A sassy Solicitor:
Consult your solicitor before signing a contract. A solicitor will help guide you through the purchasing process.

An experienced Lending Manager or Mortgage Broker:
They will be able to suggest finance options to make your dreams reality.

Research 

Get to know the areas you are interested in. Walk, run or ride around the areas you are interested in, you will see so much more at the slower pace. 

* Remember communication is the key to any good relationship. * 

It is best practice to meet with your Mortgage Broker or Bank Manager to establish your maximum purchase price as well as the level of finance you are comfortable with.

Inspections

When inspecting a property take your time and have a good look around. Ask your agent any questions you might have.

Negotiation

There are many negotiation strategies out there.
We have found our best success by following these simple steps;

  1. Do your research and work out your budget
  2. Take a step back and remember why you are buying
  3. Consider the seller’s situation.
  4. Look for a win, win for everyone. What can you offer to help the seller? 
  5. Explain your situation to your Property Consultant.
  6. @ Real Estate sales teams are local experts and as such do considerable work behind the scenes to ensure sellers price their property to meet the current market. 

Unconditional Contract

Building and Pest Inspection

It is always recommended to obtain a building and pest inspection, so you know exactly what you are buying until the unconditional date stated on the contract.

Finance

If you are obtaining finance, it is during this time your lender will complete the property valuation and provide unconditional approval for finance. Once all of the conditions on the contract such as the building and pest inspection and finance clauses have been satisfied the contract becomes unconditional.

Signing the Contract

You’re personal @ Real Estate Property Consultant will arrange a standard REIQ contract for all parties to sign and provide you and your solicitor with a fully signed copy. 

Cooling Off Period

From the day the buyer receives a fully signed contract the five working days, cooling off period begins.

Buying at Auction

Remember that buying at the fall of the hammer on auction day results in a contract of sale without any conditions and without the five-day cooling off period. Your finance needs to be fully approved and building and pest inspections carried out prior to auction day. 

Unconditional Contract

This is a contract of sale without any conditions or a contract of sale where all conditions are met.

Settlement Day

Congratulations!!! Settlement day is generally 30 to 90 days after the contract date, as agreed to on the contract. 

 

For a more detailed Buying Guide, download the full version of the 'A Quick Guide to Buying a Home' 

Our guide includes, checklists, tables, pictures, guides & more details

Click here to dowload the full copy