Buying tips
- Arrange your finance by speaking with your mortgage consultant to arrange the best loan package to suit your requirements. It is vital that you organise your finances before making an offer to avoid disappointment.
- Prepare a list of your "must have's" keeping in mind your budget, accommodation requirements and desired suburbs.
- Use the internet to its full advantage. Here you can compare properties, improve your understanding of the local property market and get a feel for the area's you would consider living in.
- Make contact with a Jim Aitken & Partners sales consultant specialising in your preferred suburbs. The agent will be able to let you know of new listings before they appear in the media.
- Inspect properties - Inspections can be made at the advertised times or by appointment with your agent.
- Making an offer - Missing out on a property you have your heart set on can be a very disappointing experience. Sometimes this happens because your finance has not been arranged and another purchaser is able to secure the property before your finance is approved. At other times, it happens because the process is misunderstood. When making an offer to purchase a property it is important to be aware;
- The agent will submit ALL offers to the seller.
- An offer is not legally binding on both parties until the buyer and the seller have signed a Contract of Sale.
- It is up to the seller whether or not to accept the offer or give the other party the opportunity to increase their original offer.
- Once negotiations have been finalised, you can secure the property by signing a Contract of Sale and paying an initial deposit which will be .25% of the purchase price of the property. The vendor signs the counterpart contract; the contracts are dated and delivered to both the buyer and sellers legal representative. Only the buyer has a Cooling-Off period.
- If you select to not secure the property, it is important to remember that the property stays on the market until contracts are signed and the deposit paid.
- We recommend that you arrange a building and pest inspection to make you aware of any major defects.
- Seek your solicitors or Conveyancers advice on the sale contract.
- By the end of the Cooling-Off period, you will be required to pay the balance of the 10% deposit. Your deposit will be held in a trust account.
- On settlement day, your solicitor or conveyancer may recommend that you have a pre-settlement inspection. This is to ensure that the property is in the same condition it was when you last inspected it and that all inclusions are as per the contract signed by you.