Buying & Helpful Hints
It’s as easy as 1, 2, 3… well maybe we can’t always promise that but Robinson Property are on hand to help guide you through it all and we will try to make it as painless and smooth as we can! Check out these buying tips to get you started in your real estate search – Happy house hunting!
1. Finance
It’s always a good idea to speak to your finance provider to find out how much you can afford to borrow. Seek pre-approval where possible so you don’t miss out on your dream home waiting for the paperwork.
2. Location
Short list the areas that best suit your lifestyle, research the suburbs and surrounding areas. Visit the area to check out the proximity of schools, nightlife, transport, shopping centres, etc. These can have an effect on your lifestyle, both now and in the future (ie.children).
3. Features
Take the time to assess the type of home you desire and then create a short list of what suits your current and future lifestyle needs. Prepare a list of features you require the property to have and type of property you are after, do you prefer apartments or town houses or could both ultimately offer what you are after. Some items will be a MUST while others may be flexible. Include number of bedrooms, bathrooms and parking requirements.
4. Research
Gather as much information as you can from the newspapers and the internet on the prices of properties in your preferred locations. Attend Open Houses and Auctions to help get a feel for prices in the area and don't be put off by bad weather, it's a good time to check the potential property for leaks and poor drainage! Contact agents to find out recent sales by suburb to research recent sale values in the area and check out what else is currently selling in these areas also.
5. Register
Contact one of our sales team and inform them of your requirements or join up via our members area on the website. They can then alert you of any properties that may suit your requirements, email you matched up new listings BEFORE they are even advertised and our weekly adverts and opens BEFORE they hit the press. Click here to become a member
6. Found it?
We would recommend you arrange a pest and building report to ensure there are no hidden surprises on properties you are seriously interested in. You could also get in touch with your potential neighbours, to ascertain suitability and see if there are underlying disputes or problems before you proceed. When you are satisfied with the reports and acting on the advice of your solicitor regarding the contract, you can then make an offer through your agent.
7. Making an offer
Armed with your solicitor’s and the inspectors’ reports and any other research you have done you can then make a confident offer to the vendor’s agent. They will negotiate between you and the vendor. You may need to act quickly and exchange unconditionally or the vendor may allow a cooling off period unless you choose to waive this.
8. Buying at Auction
If intending to buy at auction, ensure you register as a bidder on the day. Someone may only bid on your behalf if they have a binding authority form signed by you. If the property fails to reach reserve, the highest bidder normally has first right of negotiation. Visit the Office of Fair Trading for more detailed advice. (link to our useful contacts page)
9. Deposit
Once negotiations are finalised, you will be required to pay 10% deposit and sign the sales contract. The deposit is held in trust and accounted for at the time of settlement.
10. Exchange of contracts
The vendor will sign their sale contract and the solicitor/conveyancer or agent will exchange the contracts. There is now a period of time, usually around 6 weeks, until settlement occurs.
11. Pre-settlement Inspection
Before settlement is finalised, your solicitor or conveyancer may suggest a pre-settlement inspection on the day settlement is due to ensure that the property is in the same condition as when you agreed to buy it and that all the inclusions meet the contract specifications.
12. SOLD!
You will get the keys once the property has settled. It is now yours to enjoy – Congratulations! Visit our help tips on making your move a smooth one. (link to our helpful tips page)
Remember preparing yourself in every way will avoid any disappointments. Throughout this process we are just a phone call away. If you need any assistance please contact us – even if you just want some independent advice, we’d be pleased to help