Tips for Buying a House

Buying a home is usually the biggest investment a person will make in their lives. It is often a very emotional journey that may seem overwhelming at first. To assist, we have listed some of the key steps to help guide you along the path to buying the perfect property:

• Firstly, speak with your bank, mortgage broker or finance consultant to discuss your financial position. If required, start the ball rolling to source the best loan to suit your needs.
• Know your budget limit. Take into consideration items such as stamp duty, settlement fees, agents’ fees and removalist costs.
• Prepare a shortlist of preferred suburbs that suit your lifestyle, bearing in mind affordability and your accommodation needs, both now and in the future.
• Research sales in your preferred suburb/s. You can use our Property Search to help you.
• Attend all open homes in your preferred suburb/s. Inspect as many properties as you can in those area/s, so you have an understanding of the prices.
• Develop a relationship with one of our professional Sales Consultants who specialise in your preferred area/s.
• When you find a property that suits your requirements, ask your sales consultant to send a copy of the sale contract to your solicitor or conveyancer.
• If you are considering making an offer on a property, we recommend speaking with the Sales Consultant promptly. They can guide you through the process to give you the best chance of securing the property.
• It is wise to arrange for a building inspection to make sure you are aware of any possible major defects. You can arrange this directly with a building inspection company or through your solicitor.
• Following your solicitor’s or conveyancer’s advice on the sale contract, and taking into consideration the building inspection report, you are now in a position 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 sale contract and pay a 10% deposit. Your deposit will be held in a trust account until settlement. At settlement, contracts will then be unconditionally exchanged.
• A week before your settlement day, it is advisable that you conduct a final inspection. 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.

To enquire about purchasing a property with St Ives Realty, contact us to speak to one of our experienced Sales Consultants.

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