Searching for your new property can be both a rewarding and sometimes frustrating experience. Having undertaken solid research and taken a few preliminary steps to facilitate the process at the outset will minimise the frustration and streamline the process.
- If you require finance, ensure that you have discussed your borrowing potential with your lender in view of securing the loan that best suits your needs.
- Prepare a shortlist of preferred locations, regions, towns, suburbs that suit your lifestyle bearing in mind affordability and accommodation requirements.
- Research sales in those preferred areas. Inspect every property in your preferred area either by private inspection or open house so that you have a good feel for prices. Attend every auction to see the process in action and property demand. How many bidders were there? Did it sell under the hammer? Did it reach the reserve quickly? Did the property exceed the reserve? Did it fail to sell?
- Develop a relationship with one of our professional team at McElwaine who specialises in your preferred area. Your Sales Executive will be able to advise you of any additional information you may need and will also be able to direct you to our website where you can register to automatically receive notification of any new listings that suits at fit your preferences as soon as they enter the market.
- When you find a property that suits your requirements, ask your agent to forward a copy of the Sales Contract to your solicitor/conveyance so that they may undertake 'due diligence' on the property.
- If you are considering making an offer your McElwaine Sales Executive will liaise with the vendor, advising you at every step of the negotiation process until an agreement has been reached.
- We thoroughly recommend (and all lending institutions will insist on) a building and pest inspection prior to exchange of contracts. We can arrange this for you.
- Following your solicitor's/conveyancer's advice on the Sales Contract and taking into consideration the building reports, you are now able to make an informed decision to proceed and purchase the property, or withdraw from the sale.
- Once negotiations have been finalised, you will be required to sign the Sales Contract and pay a 10% deposit. Your deposit will be held in a Trust Account until settlement. Once contracts have been exchanged between vendor and purchase, the sale will be unconditional and proceed to settlement.
- Prior to settlement your solicitor/conveyance will arrange for the balance of funds to be made available in readiness for settlement. It is always advisable to undertake a pre-settlement inspection in the days leading up to settlement to ensure that the property is in the same condition as when you purchased it and that all inclusions are as per the contract you signed.
- Immediately following settlement your solicitor/conveyance will advise you that your new property is now fully yours and you will be able to collect the keys.