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Buying Tips

Tips

Wether buying a property as an investment or to live in is not an easy process. After spending a great deal of time on research and endless weekends of property hunting it is very important you are ready to take the next step.

Purchasing at auction
Attending an auction can be a very daunting experience. Try and attend auctions prior to the one you will be bidding at to get a feel for the process. Prior to the auction day you should have completed the following

  • Have your solicitor/conveyancer review the contract of sale. Your solicitor may also request amendments to be made to the contract and these need to be communicated with the vendors solicitor/conveyancer and must be included in the contract should you be the successful bidder.
  • Have had your finance approved
  • Have conducted building/strata report and be satisfied with the results
  • You must have adequate funds in your cheque account to write the deposit cheque
  • Advise the selling agent that you are planning to bid at the auction and/or pre-register for the auction
  • Attend the auction, with proof of identification such as drivers license or passport.

Purchasing by private treaty
A private treaty sale is whereby a property is marketed with a sale price. Purchasing property by means of private treaty require almost identical advice as to when buying at auction.

  • Have your solicitor/conveyancer review the contract for sale
  • Have your solicitor/conveyancer request any required amendments to the contract with the vendor's solicitor/conveyancer, so these can be incorporated into the contract on exchange
  • Finance needs to be approved
  • Have adequate funds in your cheque account to write the deposit cheque
  • Have conducted building/strata report and be satisfied with the results
  • Submit your offer in writing (either by letter,email or on a contract) to the sales agent