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1. Before signing the contract
Please let us review your contract before you sign it. We can check if there are any special conditions that can be included to give you more of what you want. |
| 2. Once you have signed the contract |
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Let us know that the contract has been signed and send us the original copy. We will review the contract, monitor the conditions, obtain the necessary searches, prepare the necessary transfer documentation and liaise with your financier to ensure a smooth transition to settlement. |
| Also: |
- consider seeking an independent valuation
- pay the deposit as agreed
- get a cover note from your insurance company immediately
- book building & pest inspections, also consider electrical and pool inspections
- send a certified copy of the contract to your financier and talk to them about a loan, prepare/send all the documents they request
- call us if your finance approval is subject to major conditions (e.g. valuation or mortgage insurance approval)
- let us know once building/pest reports & finance approval have been received
- pay stamp duty/legal costs
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| 3. Pre-settlement |
| Arrange through the selling agent to inspect the property during the week pre-settlement. The seller must not have done anything to significantly alter the property that will result in latter expense to the buyer. |
| 4. Settlement |
| Settlement is the day that you take possession of the property, as stipulated in the contract. We attend to settlement on your behalf. It is not usual for the Seller or the Buyer to attend settlement. When settlement has occurred the agent will give you the keys. We will prepare the necessary documentation to notify the following about the ownership change: |
- council
- other relevant government departments, such as the Titles Office and Commissioner for Land Tax
- body corporate (if applicable)
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It is your responsibility to arrange for connection of: |
- electricity
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gas
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telephone
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| Budgeting |
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Below is a simple guide that covers the main costs involved in buying residential property:
- valuation
- finance fees and charges: administration/application/valuation fees, stamp duty, registration fees on transfer and mortgage, mortgage insurance (if borrowing more than 80% of the property value)
- the deposit (generally 10%)
- insurance
- building & pest inspections
- council & water rates
- removalist
- solicitor: contact us directly for an obligation free quote
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