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Tips for Buying
Buying a property can be daunting but it is exciting
There are a lot of things to consider in order to put yourself in the best position to convert negotiations on the purchase of your chosen property to a successful sale. After working out your budget, determine where you want to be. It usually will come down to what suits your personal lifestyle and work choices at the time.
BE PREPARED
If you are not selling or even if you are you should get try to get pre approved for your finance. This gives you confidence to step out and puts you in a far stronger position than the buyer who simply advises the Agent they will have no problem getting finance. If you need to sell before you buy ideally you should have done that or at least be on the market so you can act fast should that property come along.
CONSIDER ALL THE COSTS
The main cost in purchasing is Stamp Duty. Make sure you know what it is for the purchase price you are looking to buy. Add it to your calculations. You will also need a Settlement Agent. Find out the cost based on your transaction value. Other costs include the cost of your finance, stamp duty on the mortgage, apportionment of rates, registration of documents at Landgate and then theres the actual moving costs.Do your homework and know what you are doing.
BUYER ALERTS
As we become more automated the internet is becoming the dominant medium in which to search for property. Most will have the option of a "buyer alert" where you can specify location and price search criteria. As soon as an Agent lists a property on the net that fits the criteria you get an email alert forwarded to your computer. You don't have to troll through hundreds of properties and you get timely advice. From and Agent's point of view it is the buyers who are best prepared, the best informed who are the ones most successful.
MAKING OFFERS
When you find the property you want be prepared to move quickly and be prepared to make a sound, clean offer without lots of conditions to be considered. The best offer is cash uncondtional at asking price. Low offers can alienate the seller and make them less inclined to negotiate generously. Offers usually have a finance clause and a Timber Pest Inspection Report along with other clauses as necessary.
