The Kings Estate Agents
Buying Information
Buying Tips

1. Speak with your financier or your Finance Consultant to arrange the best loan to suit your needs.

2. Prepare a short list of preferred suburbs that suit your lifestyle, bearing in mind affordability and accommodation requirements.

3. Research sales in those preferred suburbs.

4. Develop a relationship with one of our professional team who specialise in your preferred area. Your Sales Consultant will be able to advise you of any additional information you may need and also inform you how you can register on our website to automatically receive notification of any new listings that hit the market.

5. When you find a property that suits your requirements & you are considering making an offer, we recommend that you contact your Sales Consultant promptly who can guide you if you are in any way unsure of the process.

6. There are 2 methods to enter into a contract of sale: Signing a contract with a cooling off period of approx 5 days and paying a deposit of .25% of the purchase price to the agent. The owner will then sign their side of the contract. The agent can no longer negotiate or show the property to any other buyers. If you withdraw from the purchase during the cooling off period for any reason, you will forfeit the .25% deposit to the owner. 

OR The agent issues a contract to your solicitor/conveyancer for a solicitor exchange (section 66W) but the property is still available for further viewings & negotiations with other buyers. By not entering into a contract with a cooling off period, you run the risk of missing out on the property. 

7. Your solicitor/conveyancer can arrange a building inspection to make sure you are aware of any possible major defects. 

8. Once all inspections are complete & you have a formal loan approval (if necessary) and following your solicitors or conveyancer's advice, you are now able to make an informed decision to proceed with the purchase of the property. You will be required to pay a further deposit of either 5%,10% or deposit bond. Depending on what your solicitor/conveyancer has negotiated with the owner's solicitor/conveyancer. Your deposit will be held in a trust account until settlement. Contracts will then be unconditionally exchanged.

9. On settlement day it is advisable that you do a final inspection before settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it, and that all inclusions are as per the contract you signed.

10. Once settlement has taken place, your solicitor/conveyancer will inform you to contact the agent to arrange to pick up the keys to your new home.

 



 
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