Buying property is about the biggest financial commitment you’ll ever have to make.
However it’s also going to be an exciting turning point – one that will almost certainly make the most impact on your lifestyle. For many it will be something never done before. Selecting the right home in the right area, organising finance and negotiating the sale – it all sounds a little daunting. Yet it isn’t as complicated as you may think!
What kind of home are you looking for?
The first step is to decide what kind of home will suit your tastes and lifestyle. Establish family priorities – don't forget to include the kids in the discussion. Anticipate potential changes in lifestyle: size of family, job changes etc. Consider extracurricular activities and school when choosing your new home.
What can you afford?
Establish the price range you can afford – even before you start looking at homes, First National Real Estate Broome can help by assisting you to determine both your priorities and potential price range.
Prepare a short list of preferred areas and streets that suit your lifestyle, bearing in mind affordability and accommodation requirements. Research sales in those preferred areas. Inspect every property in your preferred area so you have a feel for the prices.
You’ve found it…
There are two ways of buying a home – auction or private sale. Offers to purchase may be made in two ways – unconditional (commitment to buy the house as listed at the price agreed) and conditional (you will buy if certain conditions are met).
What happens on settlement day?
- The lender authorises payment of the loan, and payment is made to the vendor;
- You (or your solicitor) authorise the vendor to collect the deposit money that has been held by the real estate agent, in trust;
- You receive a signed transfer of title deed and your solicitor or bank will arrange for the Registrar;
- Governing body registers the transfer and the loan;
- You pay the stamp duty on the home loan;
- You are given the keys and the house is yours!
First National Real Estate Agents are trained to assist you to identify your priorities, helping you to find the property that best suits your needs and budget. The advantage of dealing with a network like First National is that your new property can be found by your agent, working in collaboration with thousands of First National agents nationally. All First National offices have technology links that will enable you to view a potential home on the other side of this city, in another state, or even another country.