How to make a formal offer
The best way to make a formal offer and avoid any confusion is to make the offer in writing. A sales consultant will most often provide you with a contract to start the process which will also highlight any conditions of sale. The consultant will then present this offer to the sellers.
After your offer is accepted
If you’re offer is accepted, and all parties have signed the contract you will be asked to pay a deposit. This usually equates to 10% of the purchase price.
Selecting a solicitor or conveyancer
You will need to nominate a solicitor to act on your behalf once your offer has been accepted.
Property purchase costs
Financial fees vary greatly, depending on such matters as what percentage of the property value that you will be borrowing, the amount of the loan, the amount of the purchase and which bank you are borrowing funds from. If you speak to your local Harcourts Financial Services representative you can quickly ascertain approximate costs for your particular circumstances.
Possible expenses you may incur are:
- Bank fees
- Solicitor’s/conveyancing charges may include legal searches (please consult your solicitor)
- Home protection insurance
- Miscellaneous costs (building inspection, rates, removalists, etc.)
Completing the purchase
Before settlement your solicitor/conveyancer will undertake the necessary searches with respect to the property and your financier will prepare the mortgage documentation.
On settlement your solicitor will exchange with the seller's solicitor:
- Transfer documentation
- Keys to the property
Within a few days of settlement your solicitor or financier will register the necessary documentation and mortgage transfer with the Land Titles Registry.
Possession of the property usually takes place on the settlement day although the seller and buyer can agree for these dates to be different.
We will contact you to arrange a pre-settlement inspection. This is your opportunity to ensure all appliances at the property are in working order and that the property is as you recall from the time you signed the contract. If issues arise at this inspection, you should immediately contact your solicitor/conveyancer to postpone settlement until your concerns are addressed.
Chris' experience and reputation ensures you will receive sound advice throughout the entire process.