Buyers Checklist

Make sure that you are prepared for purchasing your new home with our Buyers Checklist

Confirm Your Finances

Talk to a mortgage broker, bank or financier so you know how much you can afford to spend. Take into account extra expenses needed to cover moving, insurance etc.

Make a List of Requirements

Break your list into "must haves" and "nice to haves". For example:
• Must have ... 4 bedrooms and be close to public transport.
• Nice to have ... fully fenced and low maintenance.

Research Areas and Prices

Use the internet, local papers and real estate publications to investigate prices and housing styles in different areas. The internet is particularly useful if you are moving between towns.

Decide Where You Wish to Purchase

Take into account affordability, transport, schools and family lifestyle. Be flexible with your area selection.

Property Title

• Check what type of title the property has: freehold, leasehold, unit title, cross lease.
• With leasehold properties, check how long the lease has to run and the annual ground rent.
• With apartments or terraced complexes, check whether the property has a Body Corporate and any associated fees.

Specialist Inspections

If you are serious about a property but unsure of structural issues, arrange for a building inspection by a building inspector or qualified tradesperson.

Auctions

• Register your interest with the real estate agent in advance.
• Arrange your finance in advance; if you are the successful bidder, the contract will be unconditional.
• Make sure you have the finance available to pay a deposit on auction day.
• Talk to the real estate agent to make sure you understand the auction process.
• Carry out any necessary checks before the auction.

Use Your Solicitor

When you make an offer on a property, make sure a copy of the contract is sent to your solicitor. Follow their advice.

Deposit

When an agreement has been reached by both buyer and seller, a deposit will be payable. This is usually around 10% of the purchase price. Deposits are held in the real estate agent or lawyer's trust account for a minimum of ten working days.

Final Inspection

You have right to make a final inspection of the property prior to settlement to ensure it is in the same condition as when you first inspected it. This can be arranged through the real estate agent.