Buying Tips Back

Finance - Speak with your financier to Jamie Mainwaring at Prestige Mortgages on 0437-571-007 / 4657-1007 to arrange the best loan to suit your needs.

Prepare a short list of preferred areas that suit your lifestyle. Keep in mind affordability and accommodation requirements.

Research sales in those preferred areas using Space Real Estate's recent sales. Inspect every property in your preferred area so you have a feel for the price.

Develop a relationship with a Space Real Estate Sales Agent and he/she will be able to offer additional advice and also alert you to new listings before they reach the media.

Secure the property, when you find a suitable property - be proactive and as soon as both parties (you & the seller) agreed to a price, pay 0.25% of the agreed sale price and sign the contract.

Cooling off period - You then have 5 business days, called a "Cooling Off-Period" to undertake pest and building inspections, confirm finance, and allow your solicitor/conveyancer time to review the contract.

Unconditional - You will be required to pay the balance of the 10% deposit by 5pm on the 5th business day. During the cooling off period you may rescind the contract for any reason and if you do so your 0.25% will be forfeited and paid to the vendor as compensation.

The period between exchange and settlement is usually 6 to 8 weeks. Make the most of this time preparing for the move. You may wish to immediately arrange building insurance and book a removalist. Once your moving day is confirmed, you can arrange several things in advance - building contents insurance, connection of phone, power, water, gas, as well as advising your change of address to Australia Post for mail redirection, RTA etc.

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.

Move In and start to enjoy your new home!

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