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Guide To Purchasing
There is a lot to know when purchasing a property.
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Understanding the details of the local community, identifying the size of the home, style of home and setting, and of course, organizing a budget - these are all important details to consider. Whether you’re a first-time buyer, looking for a bigger house or downsizing, Haven Real Estate is here to help you every step of the way. Our goal is to provide you with expert, caring, and candid advice throughout one of the most important transactions in your life. That is our commitment to you.
Purchasing Timeline At A Glance
Looking At Properties
Offer Accepted
Settlement Day
Write a list of the must have property features.
Inspect the property in person, or if you are interstate - request the agent do a virtual tour of the property.
Contact either a mortgage broker or the bank directly to understand your borrowing capacity and financial position. *Helpful tip: Buyer/s that have a pre approval in place look more appealing to a seller.
Research online (realestate.com.au or domain.com) recent sales in the area that are similar to the property you intend to buy so you can make an informed decision as to what you feel the property is worth. Your agent will also be able to provide you with comparable sold properties, or a price guide *Please note, if the property is going to auction, the agent is unable to provide you with a price guide.
Submit an offer to the agent. They will then pass your offer on to the vendors and advise accordingly.
You have been advised you are the successful buyer and the Contract of Sale paperwork has been signed and dated. This means you are officially under contract.
You will need to pay the initial deposit to the real estate company's trust fund. If your contract of sale has no conditions, you will need to pay both the initial and balance deposit in the timeframe shown on the contract paperwork.
Contact your appointed solicitor to manage your purchase, they will handle all communication between yourself and the seller's via the seller's solicitor. *If you are unsure of which solicitor you would like to appoint, contact your agent for their recommended solicitors within the area.
If your purchase of the property is subject to a building and pest inspection, contact a local building and pest inspector within the area to arrange a date and time within the contracts conditional days. Once you are aware of the date/time advise your agent so they are able to confirm with the seller that the inspection date and time is suitable. Your agent will advise if there are any problems with this date/time. *If you are unsure of which building and pest inspector to go with, contact your agent for their recommended building and pest inspectors within the area.
If your purchase is subject to finance, contact your mortgage broker or bank to complete the next steps to get your loan approval and finance condition satisfied. *You will need to forward a copy of the completed contract paperwork to your mortgage broker and bank.
You will need to arrange home and contents insurance & public liability for your purchasing property by 5pm the next day from Contract Date. If you are purchasing a townhouse/ unit with Body Corporate, you will only need the contents insurance. *Please note, most home and contents insurance companies include public liability. We recommend you confirm with the insurance company that public liability is included in their insuring policies.
Once all your conditions on the contract have been satisfied, your contract of sale will then be unconditional. Your solicitor will advise when this has occured. You will then need to make payment to the real estate companies trust fund for the balance deposit, in the timeframe shown on the contract paperwork.
Prior to settlement, you are entitled to a pre-settlement inspection. This is a great time to measure any rooms/ spaces, ensure the property is in a well kept condition from when you put an offer on it and to ask any questions or queries you have on the property. I.e. how to turn the water fountain on, how to operate the pool equipment, how to operate the built-in sound system etc.
You will need to arrange/organise:
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Removalists for moving day
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Connect utilities (water, electricity, ect)
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Connect internet - you will need to give your provider notice
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Redirect your mail with Australia post
You will be notified settlement has occurred from your solicitor. You will then be able to collect the keys to the property from the real estate agent.
Celebrate your new home!
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