Buying a property is a Big Step!  It can be a time consuming process and at times frustrating. From researching to finally making an offer and then through to settlement, it can be fairly overwhelming for many. Allow Michele to assist you with your journey.  You will find having an agent in the know will lift the veil of uncertainty in great measure, enabling you to move forward with confidence.  So let’s talk about a few basic things you need to know at the outset

Sorting out your Finances

Banks will at times lend more that 80%. In most instances a 20% deposit is required. Lending criteria applies. When organising your finances why not use a Mortgage Broker? They do the leg work and act in your best interests. They have a large network of major lenders and will do all the negotiating on your behalf to achieve the best deal for you. While banks offer various insurance products, it is advisable to talk with an insurance broker who specialises in these products in order to set you up with the best options for your needs. Give Michele a call and she will point you in the right direction.

Doing your Research

When looking for property you will want to know that you are buying in a market in which you will see some growth or achieve a good rental yield. Take a look at statistics and see how the neighbourhood has fared over the past 5 years. Michele will be able to assist you with this and would be delighted to help you achieve your ideal home!

Inspecting Properties

When visiting an open home take the opportunity to perform a thorough inspection of the property. A second visit is always a good idea. You may want to use the services of a professional to inspect the building’s structure and for pests. Some things to look for include, Damage from pests, wet spots on walls or ceilings, and cracks in the foundation.

Making An Offer

If you have decided the property is a definite contender make a formal written offer and avoid any confusion. Michele will provide you with a contract to start the process, which will also highlight any conditions of sale. You will always have an opportunity to first seek legal advice before signing. If your offer is accepted and all parties have signed the contract, you will be asked to pay a deposit. This usually equates to 10% of the purchase price. You will need to nominate a solicitor or conveyancer to act on your behalf once your offer has been accepted. Michele will keep you informed and be available to assist you throughout the process.

Completing the Purchase

Before the settlement day your solicitor or conveyancer will undertake the necessary searches with respect to the property and your financier will prepare the mortgage documentation. Possession of the property usually takes place on the settlement day once the settlement has been completed. Michele will contact you to arrange a pre-settlement inspection. This is your opportunity to ensure all appliances at the property are in working order and that the property is as you recall from the time you signed the contract. If issues arise at this inspection, you should immediately contact your solicitor or conveyancer to discuss your concerns. Once the purchase is complete, it’s now time to settle into your new home! Michele will arrange for the smooth transition and handover of keys to your front door!

Contact Michele Today for a Free Appraisal.