Buying a house in Australia can be a difficult and complicated process, but when it is broken down into steps it can be simplified.
To start the process of purchasing a home you should assemble all your professional associates. Your professional associates include:
- A conveyancer/solicitor
- A mortgage broker
- An accountant/financial planner, and;
- A real estate agent.
The next step when it comes to buying a home is to seek pre-approval for any loans that you may need. When you seek pre-approval, it means that you are ready to purchase at any time. Houses often have a ‘short shelf-life’ and so having your loans pre-approved, ensures your bidding position.
Once you have completed the preliminary preparation process, the search for a perfect home can commence. Searching the market using a range of sites and agents helps you to locate a property of your interest.
If you have found a property for you, the negotiation process can begin. Negotiations can vary from property to property and hence the reason why it is important to have your professional associates working with and for you. This is where your conveyancer/solicitor proves their worth, your conveyancer will cover all contract matters and legal matters that surround the purchasing of the property.
With the price having been agreed upon it is now time to finalise the contract and pay the deposit, for this to occur you must finalise your formal loan approval to ensure that you are able to pay. It will be essential to forward the sale contract to the mortgage provider.
Your mortgage provider and conveyancer will then proceed to finalise your contract and the matter will proceed to a settlement, before the property is transferred to your name.
If you wish to discuss any legal issues regarding the same, please do not hesitate to contact our offices on (02) 8917 8700.