Buying a property in Queensland can be a very daunting experience, not only for people who live in Queensland but also for people buying from interstate.
There is so much that you need to know when you are buying a property in Queensland.
We’ll outline the basic steps, so you have some help along the way.
- The best thing you can do is start with a checklist. A checklist could be made up of the following;
- Speak with a Broker first to get a pre-approval of finance so you know your budget and price range. Please note that a pre-approval of finance is not an unconditional offer of finance from the bank. Please always make sure your Contract is subject to you obtaining finance on terms and conditions that are satisfactory to you.
- What type of amenities do you want to be close to such as schools, parks, shopping centers, doctors, public transport, beaches etc?
- What infrastructure is being planned in the area you wish to buy? This information can be readily found at the local Council.
- What are you looking for in your new home? The number of bedrooms, entertaining, swimming pool, garage or large shed, the area of land?
2. Begin your search. The best place to start searching is from the comfort of your home on the internet. Visit realestate.com.au. Most listings have great photos of the interior and exterior of the property. Also, check on google maps this will help you see what is around the neighborhood and your requirements on your checklist.
4. Make a short list of the properties which really appealed to you and contact the Real Estate Agent to make an appointment to visit the properties again. Maybe, even visit a third time, to really get the feel for each home.
5. Try not to buy on emotion. When you have found the property of your dreams contact the Agent and ask them to draw up a draft Contract. The basic conditions to include: Finance approval, building and pest inspection, pool safety certificate, due diligence (this will allow time for your Conveyancer to complete the searches to check the building and plumbing code of compliance certificates) or a body corporate search (there are further conditions which can be included). Ask the Agent to forward a copy of the draft Contract to Kim at North Coast Law Conveyancing. Kim will review the Contract and provide you with professional advice before you sign.
6. Pay the initial deposit required under the terms of the Contract.
7. Get back in touch with your Broker and make formal application for finance approval. The Bank will require a copy of the Contact and may also need a valuation to be completed on the property.
As you can see there is bit of leg work to be done when buying a property in Queensland.
Leave the stress of the Conveyancing to us.
Contact us if you would like more information or a conveyancing quote.
