Buying/Selling Guide

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Our experienced team is available to assist and guide you through every stage of the “buying” process as well as the “selling” process.

Buyer Tips

“We understand that buying a property can be one of the most important financial decisions you will make in your life. We can keep you fully informed and up-to-date each step of the way.”

This checklist can serve as a guide to help you get started and to help you make a wise buying decision:

Step 1- Be Prepared

Speak with your trusted finance broker or directly with your lender to determine how much you can afford to borrow. Speaking with your finance broker can be beneficial when you are trying to determine your budget. Use the budget planner to help you check your finances. Your broker can also arrange the most suitable loan to meet your needs. Use the borrowing power calculator to work out your monthly repayments.

Step 2- Plan your Purchase

Prepare a short list of preferred areas that suit your lifestyle or investment objectives, as well as a list of essential property features and desirable extras.

Step 3- Know the Market

Inspect as many properties in your preferred location to get a good feel of the area and to assess the market prices. You can increase your knowledge by researching recent selling prices using the Recent Sales and Suburbs section of our website, or by purchasing reports from property information providers, such as RP Data.

Step 4- Seek Expert Advice

We welcome the opportunity:

• To assist you with your property search;
• Being able to offer additional advice; and
• Alerting you to new listings before they reach the media.

Step 5- Understand your Rights

To help you better understand your rights as a buyer, and if you are planning to bid at an auction. You should obtain a copy of the Office of Fair TradingBuying or Selling a Home” factsheet.

Step 6- Check the Sales Contract

When you find a property that suits your requirements, we will send a copy of the Sales Contract to your solicitor or conveyance.

Step 7- Arrange Building and Pest Reports

You can make arrangements for a building and pest inspection of the proposed property purchase. To make you aware of any major defects and pest concerns (e.g. structural defects and termite activity).

Step 8- Submit your Proposal to Purchase

You will be able to make an informed decision to proceed with a proposal to purchase the property if you:

• Follow your solicitors or conveyancers advice on the sales contract; and
• Take into consideration the building and pest reports.

Step 9- Exchange Contracts

Once negotiations have been finalised, we will arrange for you to sign the Sales Contract and pay a 10 per cent deposit, which will be held in trust until settlement. The vendor will sign their copy of the sales contract, and the solicitor/conveyance or Singh Property Market will “exchange the contracts.”

Step 10- Settlement

Before, settlement takes place. Your solicitor/conveyance may request that you have a pre-settlement inspection. This is to ensure that the property is in the same condition as when you last inspected the property and that all the inclusions are as per the contract you signed.

Upon settlement, monies will be transferred to the buyer, and the buyer will receive the keys to the property. CONGRATULATIONS!

Seller Tips

Make sure you have done everything you can – inside and out – to ensure your home is as attractive as possible, in the eyes of the buyer. As first impressions last, and homes that look their best tend to sell faster and command every dollar they are worth. Use this checklist when preparing and showing your home for sale:

Step 1- Timing

Buyers for good quality homes can be found all year round. The issue of timing is less critical today than in the past, because, the marketing process has become far more sophisticated than in previous times.

Step 2- Presentation

Because, first impressions always count to the buyer, it is important to make sure your property looks its best from the moment it goes onto the market for sale. This means ensuring that both the interior and exterior are presentable and attractive as you can make them.

Step 3- Building and Pest Inspections

Consider obtaining a building and pest inspection report, as this will enable you to have any necessary repair work done prior to selling your property.

Step 4- Contract for Sale

The Contract for Sale should be prepared by your solicitor or conveyancer with all the essential terms and conditions listed.

Step 5- Certificate of Compliance

If you have recently undertaken major building works. You should obtain a Certificate of Compliance from the local council.

Step 6- Inclusions

Make a note of everything that will be included in the purchase price and which will remain at the property after completion (e.g. light fittings, floor coverings, curtains, and blinds).