Home ownership can be a compromise. It is helpful to be clear about non-negotiables such as property type, size and location. Ask yourself some of the questions below to gain further insight.
Knowing why you’re buying will help you define your criteria and make your search quicker and easier.
Being aware of what you can afford before you start looking at homes can help you avoid big disappointments down the road. Our Ray White Lower North Shore team can direct you to many reputable mortgage consultants and lenders to obtain finance pre-approval for your impending purchase.
Once your search criteria is determined and your budget is in place you are now ready to find your new home. With an abundance of property on the market this may be overwhelming. Always here to help, our sales professionals at Ray White Lower North Shore will happily guide you on your real estate journey.
You’ve found the perfect home! It’s time to make an offer. All terms and conditions of the sale must be addressed in the offer and don’t forget to factor in costs such as legal fees, stamp duty, insurance and loan application fees.
Whether you’re purchasing at auction, prior to auction or by private treaty conditions, your solicitor is on your team for this one. They will lead you through the intricacies of your purchase formalising the sale by exchanging the contracts with the vendor’s solicitor. At this point of time a deposit of generally 10% of the purchase price is paid to be held in trust until settlement.
Shortly after the contracts are signed and exchanged, a mortgage application will need to be completed and submitted. Your chosen lender or broker will assist you in this process.
The standard settlement term is 42days after exchange, this can be negotiable. At settlement, the vendor and purchaser sign all papers related to the sale of the property under the guidance of their legal representatives, the deed is transferred from the vendor to the purchaser and the balance of the sale price is paid.
Congratulations, here are the keys to your new home!