Considerations when buying a home
It is essential that when you seriously start to look at purchasing a property, that you carry out your research towards finding the most appropriate finance which suits your needs.
- Shop around for Finance & interest rates
- Ensure that you feel comfortable with the financial person that you are talking to. Important things to find out are how quickly finance can be approved in writing, and the factors involved in expediting this process.
- Lifestyle and financial decisions
- Prepare a list of preferred areas, keeping in mind your lifestyle preferences, affordability and accommodation requirements
- Recent Sales
- Keep an eye on recent sales evidence and properties for sale through our website and the Northern Daily Leader. Inspect as many properties in your price range and preferred area so that you get an accurate feel of the market and an understanding of comparable prices in the area.
- You and your agent
- Develop a relationship with a Burke and Smyth Sales Agent. The agent will be able to offer additional advice and also alert you to new listings before they reach the media
- Submitting an offer
- When you find a property that suits your requirements, and you have your finance approved, you may submit an offer to your agent.
This offer may be conditional, or unconditional, but it should be genuine and should the offer be accepted – you should be prepared to go ahead and purchase the property. All offers in NSW must, by law, be submitted to owners
- Building and Pest inspection
- You have the opportunity to arrange a building and pest inspection to make you aware of any major defects and pest concerns eg: white ants, termites. At Burke & Smyth, we are happy to arrange these inspections for you
- Solicitors and Conveyancers
- Following your solicitors or conveyancers advice on the sale contract and taking into consideration the building and pest reports, you are now able to proceed towards exchange of contract. You will be required to sign the sale contract and pay a 10% deposit. Your deposit will be held in trust until settlement. It is very important that your solicitor expedite this process so you are able to secure the property, because any further offers received on the property by the agent, must be by law, submitted to the owner up to exchange
- If you are bidding at an auction, we recommend you read the Office of Fair Trading's "Bidder's Guide" before you attend the auction
- Settlement Day
- On settlement day, your solicitor or conveyancer may request that you have a pre-settlement 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