Purchasing residential real estate can be a very exciting process, however it can also be a confusing time for the prospective buyer.
The best way to present a strong offer on any property is to follow the steps below that allow you to understand what is required in preparation, allowing you to put forward your strongest purchasing proposition to the agent.
Step 1 – Provide agent with your full details such as:
• The actual purchase price you will be paying for the property.
• The method by which you choose to pay the 10% deposit. e.g. cheque/bond/other.
• The settlement period that you require or the vendor has stipulated.
• The name of your chosen Solicitor or Conveyancer.
• Any special conditions or requests that you may have so that we can inform the vendor (property owner).
Step 2 – Decide if you are going to obtain a strata report.
Before you purchase any property it is important that you conduct a strata search and go through this with your solicitor/conveyancer.
Step 3 – Notify your bank of your purchase address & details.
A pre-approval of finance from your bank or lending institution needs to be in place before safely proceeding with your property purchase. Auction day is final. If you turn up to bid and you are the highest bidder past the reserve price (on-the-market price) you are the instant owner awaiting settlement of the property.
Preparation is the key. Understand the steps of sale and have everything in place is imperative to reaching your property goals.
Whether you are considering purchasing this property or another in the near future and in need of advice, please feel free to contact myself or any of our team with questions that you may have.
We are available to assist you.