If required, meet with your financier or your financial institution to select and arrange the home loan that is right for you.
- Have in mind a solicitor or conveyancer that can offer you advice and help you through the buying process.
- Prepare a short list of preferred suburbs that suit your lifestyle, know your budget and how much you can afford to spend.
- Gather information on recent sales in your preferred suburbs. Inspect the properties that appeal to you.
- Once you have found the property that suits your needs, request from the selling agent any additional information you may require and most importantly request they send a copy of the contract of sale to your solicitor or conveyancer.
- Make contact with the selling agent and submit an offer. Be ready to give a deposit to show to the seller you are a serious buyer.
- Have your solicitor or conveyancer arrange a building inspection to make sure you are aware of any possible major defects.
- Following your solicitor's or conveyancer's advice on the contract of sale and taking into consideration the building reports, you are now able to make an informed decision to proceed with the purchase of the property.
- Once negotiations have been finalised, you will be required to sign the contract and pay the full deposit (usually 10% of the agreed price). Your deposit will be held in a trust account until settlement. At settlement, contracts will then be unconditionally exchanged.
- On settlement day it is recommended that you organise a final inspection before settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it, and that all inclusions are as per the contract you signed.
If you would like further information on buying property, please contact Raine & Horne Castle Hill or alternatively click on the NSW Office of Fair Trading link below to be directed through to their website.