Our experienced RE/MAX Sales team is available to assist and guide you through every stage of the buying process, from start to finish!
Jason Martin & Nicholas Scarf understand that buying a property can be one of the most financially important and personally significant decisions that people face. Nicholas says, “Our aim is to keep our clients fully informed and up-to-date each step of the way.” We have prepared the following list to help you get started, however please feel welcome to talk to us or ask for additional information at any time.
1. Be prepared – Arrange Finance pre-approval
1. Loan application/establishment fees
2. Government charges such as mortgage & property stamp duty
4. Building and pest inspection report expenses
5. Legal expenses
Speak with your financier or our Insight Home Loans consultant to arrange a loan that best suits your needs. Make sure that you’re ready to act when you find the right property!
2. Understand Your Rights
Plan your purchase
3. Prepare a short list of preferred areas that suit your lifestyle or investment objectives, as well as a list of essential property features and desirable extras. Keep in mind that most buyers end up making some sort of compromise, so having a planned approach and focusing on what’s really important will help you to make the best decision.
4 Research the market
Inspect as many properties as possible in your preferred area to get a feel for market prices. You can increase your market knowledge by researching:
1. The Manly Daily
2. Sydney Morning Herald price guide and Saturday Domain
3. RE/MAX Property Specialists recent sales
4. Attending open homes and auctions in the area
5. Internet sites such as remax.com.au , realestate.com.au and domain.com.au
Or by purchasing reports from property information providers such as RPData.
5. Meet your RE/MAX Agent
In addition to scanning through advertisements each weekend it is a great idea to develop a relationship with your local RE/MAX agent, Jason Martin or Nicholas Scarf, as they will be able to offer you additional advice and notify you of new properties on the market before they are advertised. Make sure you supply them with details of your wish list and your preferred method of being contacted.
When you find a property that meets all of your requirements, be sure to do the following before negotiations commence:
1. Take notes
2. Inspect the property personally more than once
3. Have your solicitor or conveyancer review the contract for sale
4. Arrange for a building and pest inspection
5. If the property is going to be auctioned we recommend you read NSW Fair Trading’s “Bidder’s Guide”
6. Check that your finance approval is still effective
7. Proceed to sale
6. Exchange Contracts
Once negotiations have been finalised, you will be required to sign the sale contract and pay a 10% deposit which will be held in trust until settlement. The vendor will sign their copy of the sale contract, and the solicitor/conveyancer or agent will ‘exchange’ the contracts.
1. The standard period of a contract is 42 days
Note: It’s important to be aware that up until the ‘exchange’ has taken place, agents are legally obliged to submit all proposals from other buyers to the vendor, and there is a risk that the property could be sold to someone else.
On settlement day, your solicitor or conveyancer may recommend that a pre-settlement inspection be carried out prior to final settlement to ensure that the property is in the same condition as when you last inspected and that all the inclusions are as per the contract you signed
Upon settlement, monies will be transferred to the vendor, and you will receive the keys to the property. Congratulations!