Buying Tips
These are a few tips to aid in making your property purchase as easy as possible…
- Define the areas that you wish to live in.
- Prepare a list of your wants and must haves with regards to features of your new home. Keep in mind affordability.
- Speak with your financier/bank manager or ask Ray White Drummoyne for their preferred list of mortgage consultants.
- Choose a lender and obtain pre-approval.
- Research previous sales in your preferred areas and attend any auctions that may be of interest.
- When you find a property that you are interested in, always conduct more than one inspection to learn about the things you missed the first time around.
- Once you are satisfied ask the agent to send a copy of the contract to your solicitor.
- Have your solicitor arrange for a building and pest inspection.
- Once you and the seller have agreed on a price you will be required to sign a contract for sale and pay a ten percent (10%) deposit. Other terms such as the period of the contract can be negotiated.
- To avoid missing out on that one special property you can always avoid a cooling off period and secure the property by having your solicitor include in the contract for sale a Section 66W certificate that waives your right to a cooling off period.
- It is now time to notify your lender and finalise the loan documents.
- After a two (2) week period from exchange of contracts your solicitor will ask you to pay the required stamp duty.
- Confirm a time with your solicitor for completion and book a removalist.
- Always request a final inspection of the property with the selling agent, on the day of settlement or the day prior.
- Within a week of the settlement day arrange power and telephone connections, contents and building insurance and start to prepare a list for your change of addresses.
- Finally, collect the keys from the agent and enjoy your new home.
