C&G’s Guide: The Ultimate Buyer’s Checklist

Owning a home is often referred to as the Great Australian Dream, and for good reason! It’s a rewarding transaction, especially once you’ve tackled the legal paperwork, upfront costs and endless inspections. As seasoned real estate experts, C&G have got your back with this handy checklist for buying property.

Prepare your finances

We’re not going to lie – homes are expensive! It pays to start your property journey on good financial standing. This will secure you a reliable deposit and strong borrowing power. It also doesn’t hurt to obtain a loan pre-approval before beginning your property search. Apart from being able to negotiate confidently, sellers will likely accept your offer knowing you are a serious buyer.

Find the right property

The search is one of the most exciting parts of a property transaction. Homes come in all shapes and sizes, so it’s important to determine your motivations for buying and produce a list of features that will suit your lifestyle and priorities. Perhaps you require a family-friendly neighbourhood for your kids, or proximity to cafes and entertainment complexes to match your single lifestyle. Do your due diligence and research comparable properties in your preferred location.

Talk to the experts

There are a lot of legally binding contracts to sign before you officially own your home. So it makes sense to engage professional assistance throughout the process. Depending on the complexity of your sale, a licenced solicitor or conveyancer can help review your Contract of Sale and provide legal advice. An experienced agent will be able to answer your questions and inform you of upfront costs you will need to budget for. They will also help you understand your rights and obligations as a buyer.

Finalise the sale

The countdown to settlement day is on! You’ve found your perfect home, exchanged contracts with the vendor and paid your deposit. You’ll enter a cooling-off period which often lasts 3 business days, and receive the opportunity to conduct a final inspection to ensure your home meets the conditions outlined in your contract. Once settlement day approaches and you’ve paid the remaining balance of your property’s purchase price, you will sign the final documents and assume legal ownership.

Thinking about entering the market? Don’t hesitate to reach out to the expert team at Chisholm & Gamon for advice. We live and breathe real estate, and would love to answer your questions!