If you haven’t started your property search or are still looking, a pre-approved loan can be useful. It gives you a clear picture of what your spending limits are and gives you peace of mind that if you find a property you’re really interested in you can move quickly to make an offer. Reach out to us to start the process.
You will need a conveyancer, solicitor or property lawyer to act for you to complete the sale. They will be able to review all contract of sales to check that all is clear with the property. On settlement day, the conveyancer will check the correct amount of money has been transferred from your lender to the seller and all fees – such as Stamp Duty – are paid, so you can take legal ownership of the property.
Make sure you do plenty of homework when you’re on the hunt for a new property. Research property prices in the area, potential capital growth and existing and planned infrastructure, such as roads, public transport, schools and shops. If you’re unfamiliar with property values in the area, consider a full valuation carried out by a registered valuer before making a final decision.
When purchasing property, whether at auction or through an offer, you’ll sign a Contract of Sale outlining the price and terms. This could include conditions like lender approval, building, and pest inspections. The settlement period, typically six weeks (shorter in some states like Queensland), finalises ownership.
Note: Even with a pre-approved loan, your lender requires a property valuation before granting full approval; unsatisfactory valuations may affect loan approval.
Be very cautious about signing an unconditional contract or bidding at an auction especially if you’re not certain about whether you’ll be able to obtain finance or about buying the home.
You should also consider obtaining legal advice before signing a sale contract or bidding at an auction.
Whatever your circumstances, we will find the deal that’s right for you.
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