Buying Property

Signing the contract of sale and the Section 32 vendor’s statement is your first step to buying property. 

 Before signing any document, send us a copy for review. 

We will review your first contract of sale and Section 32 vendor’s statement for a minimal fee. 

We can assist you with the property conveyancing for the following purchases:
 Vacant land
 New or existing houses
 Units, flats and apartments
 Off the plan purchases (townhouses, houses or units)
 Commercial properties, including shops, caravan parks and restaurants 
Industrial sites, including farms, abattoirs and warehouses 

We will keep tabs on all important dates, including when your finance approval is due, when special conditions are to be satisfied, when your final inspection is due and the purchase settlement date. 

“Subject to finance”

It is essential that your finance is approved before you sign the contract of sale.

 If your finance is not approved, make sure you include a “subject to finance” clause in the contract.

Without this clause you face the risk of losing your deposit.

As part of the “subject to finance” clause, include:
The lenders details.
 The loan amount you intend to borrow from the bank.
 The date you anticipate the bank will approve your loan unconditionally.
 

Final property inspection

Contact the real estate agent in the weeks leading up to settlement to organise the final inspection.

 We advise that you organise this inspection a few days prior to the settlement date . 

If you do identify any issues with the property, contact us for further guidance. 

Things you should look out for at the final inspection:
Is everything that was in working order still working?
 Are all the items mentioned in the contract of sale in the property?
Is there any damage to the property (other than fair wear and tear)?
Are there substantial amounts of waste left on the property?
 Have the vendors, or tenants, vacated the property?

Settlement date

The settlement date is the day the buyer takes ownership of the property.

This date will generally be specified in the contract of sale.

 A suitable time will be arranged with all parties involved to finalise settlement.

Our office will arrange an agent to attend settlement on your behalf.

The seller sets the date of settlement in the contract of sale.
Settlement usually takes place between 30 to 90 days after signing the contract of sale.
 The buyer pays the balance of the purchase price on settlement date.
At settlement, the buyer receives the property title and becomes the registered owner.
All outgoings such as council rates, water rates and land tax will be adjusted for.

Once settlement is complete, you can collect the keys from the real estate agent.