The process of Real Estate purchase

Tips for buyers to assure a successful purchase.

Purchasing real estate for whatever reason is a fairly straight forward matter in these enlightened days and the fact is, that the majority of vendors, agents, and buyers also want the transaction to be smooth and trouble free. However, there are indeed a few pitfalls to be wary of, and by being truly prepared you should be able to negotiate a successful purchase.

It is a given that all buyers, unless in the legal profession will find a good solicitor or conveyancor to check out the paperwork and give good advice regarding the potential pitfalls of the contract or property. They in turn will suggest a pest and building and or strata report be undertaken. These are all fairly well understood procedures.

Being a finance ready buyer in these changing times is a distinct advantage in your negotiation with the agent and vendor.  You should assure that your exchange deposit is easily available  and your remaining finance pre approved and in writing from the bank. Doing this will assure you don't have delays, and avoid complications where you have competition in wanting to buy the particular property. Until you have exchanged a contract with the vendor, the property is technically still for sale, and if your neighbour walks in with the cash and a signed contract at a higher price, the agent must by law ( in New South wales) submit the offer in writing to the vendor. If the second offer is higher than yours, and ready to exchange, you may just find that the vendor instructs his solicitor to sell to the second party. Now this does not happen too often, but when it does it is a painful and expensive exercise for the buyer, who really wasn't ready to make an offer. Be Prepared, then make an offer.  Happy Buying!  P.S for more advice or an introduction to some great mortgage brokers call any of our real estate sales team.