At Day By Day Property Solutions, we know it can be difficult and challenging to find your perfect home so we’ve managed to summarise the process of buying a new property into the below ten steps.
- Obtain a loan pre-approval from broker or bank.
- Find a property in your budget.
- Request the Contract for Sale from the real estate agent and send it to your legal party (conveyancer or solicitor) for preliminary review.
- Submit your offer to the real estate agent.
- Once your offer is accepted, contact your legal party to review and sign the Contract for Sale.
- Obtain pest and building reports.
- Obtain strata reports or any other reports (as required).
- Obtain formal loan approval.
- Pay the deposit to the real estate agent.
- Authorise your legal party to exchange the contracts and secure the property for you.
If you want to know more about buying a property, you might find some of the below articles helpful.
- Clarifying real estate jargon
- Common first home buyer mistakes
- How to buy and sell a home at the same time
- How to get home loan ready
For more articles like these, check out Day by Day News.