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BUYING TIPS + CHECKLIST

Some handy hints to help you when buying a home.

 

 

1

Have your finances in order early

If you need finance to fund your purchase, meet with your chosen lender or mortgage broker early on in your search in order to get loan pre-approval (sometimes called approval in principle) and ascertain how much money you can borrow. This way you will be ready to act as soon as you see something you’re keen to buy, with your lender quickly able to give you final loan approval for your purchase if you meet all of the necessary criteria.

2

Engage a conveyancer or lawyer

To undertake the conveyancing work for your purchase you will need to engage a solicitor or a registered conveyancer. Solicitors are often recommended when contracts are not straightforward and are likely to require complicated legal work. However, as experienced conveyancers specialise in conveyancing work they are ideal in most circumstances. In fact, many law firms employ registered conveyancers to undertake their conveyancing work.

3

Check the title of your chosen property

Freestanding houses generally have a freehold title, also known as Torrens Title, however other titles exist for different property types and come with their own legalities. Many apartments, townhouses and villas are Strata Titled, which is a system for handling the legal ownership of a portion of a building and will incur quarterly strata fees. Less frequently you will come across a Company Titled apartment, a system which effectively means you purchase shares in a building rather than a designated space. Restricted Company Title means that you may not be able to lease out the property.   

4

Carry out the necessary inspections.

The building and pest inspection process is an important part of the legal checklist for buying property. This inspection involves ensuring the electrics and plumbing have been installed to meet requirements, that any renovations have been approved by council, that the boundaries are in the correct position and that any pest issues are identified. We can put you in touch with reputable building and pest inspectors.

5

Have your deposit ready.

When buying at auction you will need to pay a 10% deposit on the day to secure your purchase. This can be done in the form of a personal or bank cheque or a deposit bond, which is effectively a guarantee for the bond which your lender can arrange for you. If you are buying a property via private treaty, you will need to pay the deposit upon exchange of contracts. Make sure you have the deposit organised several days in advance if possible to avoid any complications.

What our clients say

I did my due diligence and had narrowed my search down to two agents to sell my house. Initially I went with the biggest agency in town, believing because they had the biggest agency in town they would...

Mat

Pete and Keryn from ONE Agency Gympie are awesome! We found Pete to be very professional, experienced and had a great amount of knowledge about the Gympie market. Pete and Keryn listed and sold our...

Rhiannon

Pete has a very down to earth view of the real estate market and also marketing and was able to achieve above our expectation for sale price.  We were very happy and would recommend Pete and Keryn...

Dennis and Kathryn

Pete and Keryn went above and beyond to ensure we had a great listing and that the property was well presented. Within 24 hours of signing with the Angle's, we had interest in our property and by the end...

Projects and Development Specialists Pty Ltd

Having tried other local agents and being disspointed by the lack of their enthusiasm I can't say enough about their excellent service, tireless energy and professionalism. Sold our home in 3 weeks! Recommend...

Trudy Gilbert

One Agency Gympie has been very honest and helpful with the sale of both my properties. They have a very clear goal and understanding of the local markets and trends. Nothing has been too hard for them...

Jason Maher