Buying a property? 3 Key Steps to a Calm Transaction!
Rushing the home buying process is a sure-fire way to get stressed! So that this doesn’t happen to you, follow these simple steps:
1) Allow for some wriggle-room
Allow yourself (and our conveyancing team) the maximum amount of time needed to meet all the conditions in your agreement. About 10-15 business days for the conditions, plus another 10-15 days to settle – let’s say 30 – 40 days all up to keep it safe. Why? Simple. Life is always better without unnecessary stress!
2) Tell your conveyancer of all negotiations with the agent
In the buying process, understand that the real estate agent is employed to work for and in the best interest of the seller. As your conveyancer, we are here to assist you and act in your best interests as the buyer.
So, for example, if you negotiate any works to be completed e.g. gutters need clearing, light fittings/fans need fixing, tell us so that we can make sure these items are added to the contract as special conditions. This will make sure the seller is contractually bound to carry out what has been negotiated. Just asking the agent to do it doesn’t mean it will actually happen.
3) Talk to your conveyancer and broker about all potential costs & contributions
If you are not well-informed and supported by your conveyancer and financier, costs can come from unexpected places. A pest report, builder’s report and the requirement for a council rates and body corporate search are just some examples of potential unexpected costs and contributions. So, what steps can you take?
a) Your broker/banker should factor all these fees and costs in to your loan approval, so check with the broker/banker to ensure they form part of the finance approval amount.
b) Your broker/banker should also be able to assist with any NT Government schemes and funds currently available.
c) As your conveyancer, we can advise on any NT Government Stamp Duty Concessions available. You can help by letting us know:
· are you a first home buyer
· are you a Senior or Carer
· have you owned property in the NT in the past 2 years, or
· have you recently transferred a property under Family Court Consent Orders.
Let us know your circumstances and we can advise what you may be eligible for.
These 3 simple but key steps will make sure that you allow enough time for your home purchase, and that your support team have the best information possible to secure the best result – a hassle-free purchase of a great property, with no surprises. Again, life is always better without unnecessary stress!
Need a conveyancer? Give us a call or send us an email! We can handle your residential or commercial transaction, whether you are the Buyer or the Seller. We can also give you options when it comes to mortgage brokers.
Please feel free to call us on (08) 8941 6355 or email conveyancer@bowden-mccormack.com.au or hannah@bowden-mccormack.com.au should you wish to discuss your property transaction needs.