Looking to buy a house or apartment?
Whether you wish to buy a home or a property investment, read this real estate advice before you start
The decision to buy a home can be a stressful experience. It is always a challenge to find the right real estate agent, research the best suburb, secure the home loan … not to mention moving house! Your home will probably be the largest investment you’re likely to make, so when you make the it’s essential to have the right advice about buying property at your fingertips. To help, the Charles & Stuart team of experts have put together this handy guide to make your property purchase as seamless as possible:
- Do your property research: Make sure to inspect as many properties as you can in the areas you prefer before you decide. That way you can investigate the property market and it will be time well invested.
- The right paperwork: Once you’ve found the property that’s right for you, request a copy of the sale of contract from your agent to send to your solicitor or conveyancer.
- Arranging a building inspection or strata inspection: Ensure your new home is free from defects and pests and ready to live in.
- Make an informed decision: Once you have the results of the building or strata report and have your solicitor or conveyance’s advice on the sale of the contract you’re ready to make a decision about whether you want to make an offer on the property.
- Auction: Get a copy of the Office of Fair Trading’s Bidder’s Guide before you attend an auction. More information at www.fairtrading.nsw.gov.au
- Signing the contract: Secure your home deposit of 10% will be required to sign the sale of contract once negotiations are over. The deposit will be held in an interest bearing trust until settlement.
- Interest: In most cases this will be divided equally between yourself and the vendor who will sign their sale contract.
- Exchanging contracts: Your solicitor or conveyancer will then exchange contracts.
- Pre-settlement inspection: So as to ensure that the property is in the same condition as when you last inspected it and all is in order as per the contract, your solicitor or conveyancer may request a pre-settlement inspection.