Entering the property market can be an overwhelming process.
Where do I start?
Always get advice from your Broker or financial institution Lending Manager about the amount that you can borrow and the amount that you can afford to repay on a monthly basis. This will allow you to create a budget for properties that fall within the price range that you can afford.
The property market may require you to act quickly. It is helpful to the Agent selling the property if you have already spoken to us to engage us to act for you on the purchase and are able to provide our contact details once your offer has been accepted. The Agent will then issue a Sales Advice to the solicitors for all parties describing all the particulars of the sale, including, the price, inclusions, completion date and any other special conditions that have been negotiated.
We will be able to help you with all the recommended pre Contract reports including a Building & Pest Inspection Report and/or Strata Inspection Report.
What next?
We will then sit down with you to discuss the Contract for Sale of Land and the conveyance process.
It is very important to get all of the above right from the start. Once the Contract for Sale of Land is exchanged it will become legally binding at this point, as most vendors will require you to waive your five (5) business day cooling off period.
If you are thinking about making an offer on a property and would like to discuss the legal process, including any Stamp Duty concessions that may be available to you, we invite you to contact Peter Bahlmann, Kerry Kyriakoudes, Anna Masi, or Mark Nolan of our Property Team.