Buyer’s Information

Buyer’s List

In most cases, buying a home can be a stressful process for you and your family. So to make sure that you have everything covered, list all the things needed to get your dream home. Prioritise what is important to you and your family. What you need and what you want. What sort of property you want and which area will suit you.

Finances

We strongly recommend that you consider your buying capacity before searching for a property so that you can be ready to buy your home. This is to make sure that you know what price range you can look into and what your repayments will be. This is also important because if you are buying at auction, you need to have a pre-approved loan.

5 Rivers Real Estate’s highly recommended financial brokers can help you in finding the right loan.

Finding the right home

After making sure of the area, location (if near schools and shops) and other features you want in a property (i.e. no. of bedrooms, bathrooms etc.), you then check out similar properties in the preferred area and book an inspection. You might be inspecting around 8-10 properties in a week. At the end of the week compare these inspected houses with your list of requirements and choose the best home which meet this list. Don’t rush into things, take your time in considering all things as this will be one of your biggest asset. Talk to the sales agent at all these properties and ask questions about the property.

The Process

After selecting the right home and if you are genuinely interested, you then make your best offer for that property. The agent will present this offer to the seller (vendor) on a legal Contract for Sale and will act according to the seller’s advice. Mind you the Seller may or may not agree to your offer, so you have to carefully consider the sales representative’s feedbacks, before making the best offer or may risk losing the chance of your dream home.

The details of your offer are expressed in the Contract of Sale, which is a legally binding document detailing terms and conditions under which the purchase and sale process will be completed. After you have signed and given deposit this is presented to the Seller. The Seller signs it if the offer and the deposit amount is acceptable to the Seller. This contract is not legally binding until all the signatory parties have signed the Contract for Sale.

Before the settlement the purchaser should make sure to inspect and determine if the property is in the same state and condition or any special condition have been satisfied.

Settlement

At settlement, the attorneys/conveyancer’s of both parties liaison with each other. The balance amount of the purchase price is paid to the Seller, all outstanding mortgages discharged and the purchaser becomes the legal owner the property. After this, the keys to your dream home are presented to you by us.

Rest assured, 5 Rivers Real Estate’s friendly staff will assist you through every step of the way so that you can make beautiful memories and have a wonderful experience of buying your dream home.