Here’s my four-step process for securing your very own inner city bachelor/ette pad or suburban castle.
Step 1 – Prep Work
Prepare for lift-off
A really smart person once said that knowledge is power.
We’ll make sure you’re as wise as Dame Edna, as sharp as the knives of Master Chef and as confident as Hugh Jackman when it comes to landing the home of your day dreams. You won’t become the house-hunting whisperer, but you will leave my office with a wealth of knowledge.
After you’ve become a walking Wikipedia for buying a home, we’ll start by organising pre-approval for a home loan to save you time when you do find a house. We’ll also recommend the best conveyancer for you, who’ll interact on your behalf with the lender, real estate agent and the vendor (the current home-owners). This will put you a step ahead of everyone else.
Finding the right lender for you is also a top priority, so we’ll filter through all your options and come up with a short-list. We’ll also take in to account your income and expenses, credit history and your savings so we can make sure you’re able to not just keep up with mortgage repayments, but flourish financially and achieve that abundance you need to create your dream future life..
Step 2 – Treasure Hunting
Searching for a home is an exciting time in your life, and now you’re fully prepared to start hunting. Whether you’re trawling through the weekend paper or jumping on to domain.com.au, you’ll be in the best position to filter through the noise and find exactly what you’re after. Happy scrolling!
Step 3 – Organising Finance
Things are about to get real.
Once you’ve found your dream pad, you’ll need to make an offer and put down a deposit.
Just gotta have it? A Cooling Off Contract/Deposit will take the property off the market…but it’s non-refundable, and usually 0.25% of the purchase price. We recommend 10 days for peace of mind.
In that 10 days we go off and get all the finance approved. At the same time, your conveyancer will organise inspections to make sure your property is in top condition – free of termites, rising damp, the usual stuff that might pose a problem for you further down the track.
Step 4 – Taking Ownership
Not a game of thrones.
Woohoo! You’ve gotten your loan approved! This gives you the right to exchange unconditionally. What does this mean? You’ll need to supply a cash deposit or Deposit Bond – normally 10% of the purchase price.
A Deposit Bond is used when you don’t want to use your cash at the time, usually because the funds are available for settlement, but are not ready for the exchange.
After this stage, if you withdraw, you may forfeit your deposit.
When it’s settlement time, the conveyancer will take the reigns and disburse the various cheques that need to be paid.
What’s next? Champagne. Lots of it. The keys are yours. 🙂
Ready for the next step?
We’re only a phone call away. Get in touch!