Buying property is about the biggest financial commitment you’ll ever have to make.
However it’s also going to be an exciting turning point – one that will almost certainly make the most impact on your lifestyle.
For many it will be something never done before. Selecting the right home in the right area, organising finance and negotiating the sale – it all sounds little daunting. Yet it isn’t as complicated as you may think!
First National Real Estate agents are trained to assist you to identify your priorities, helping you to find the property that best suits your needs and budget. The advantage of dealing with a network like First National is that your new property can be found by your agent, working in collaboration with thousands of First National agents nationally. All First National offices have technology links that will enable you to view a potential home on the other side of this city, in another state, or even another country.
Key Tips when buying Property: 1. Speak with your financier to arrange the best loan to suit your needs so you can obtain pre-approval to spend a certain amount of money.
2. Register on our website to receive property updates and prepare a short list of preferred suburbs that suit your lifestyle, bearing in mind affordability and accommodation requirements.
3. Research sales in your preferred suburbs and inspect every property that interestes you so you have a feel for the prices. Attend all open homes in the area.
4. Contact our office and speak to a Property Consultant who will be able to advise you of any additional information you may need and also inform you of any new listings that hit the market before they are advertised.
5. When you find a property that suits your requirements, ask your Property Consultant to prepare a contract of sale and forward it to your solicitor or conveyancer for his or her approval.
6. If the property that you are purchasing is a dwelling, you are advised to make your offer "subject to a building and pest report". Your Property Consultant can arrange a building and pest inspection to make sure you are aware of any major defects and pest concerns eg: white ants, termites, remembering that the perfect house has never been built - make allowances for its age and normal depreciation, but take heed of any serious issues that can be costly to remedy.
7. If you require finance to complete your purchase, ask your agent to make your offer "subject to finance approval".
8. Following your solicitor's or conveyancer’s advice on the sale contract, you are now able to make an informed decision to proceed with the purchase of the property. Your agent will ask you to sign the contract and the negotiation to purchase the property will begin.
9. Once negotiations have been finalised, the contract will be dated and you will be required to pay a maximum of 10% deposit or whatever other deposit as may be agreed to during the negotiation. Your deposit will be held in a trust account until settlement.
10. In Queensland, there is a 5 day "cooling off" period which begins when the buyer receives a signed copy of the contract of sale.
11. On settlement day it is advisable that you do 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 the inclusions are as per the contract you signed.