Buying Process
My focus in real estate remains on YOU the people, not just the property. YOU are more than a number to me and I recognize that you, as an individual, will have specific needs.
So, you have decided to buy a property here on the Sunshine Coast. With so many types of properties to choose from, where do you start?
I invite you to come and discuss your proposed purchase with me for some local advice. I'd like to sit with you with a map in front of us and discuss the various locations and types of properties in our area and the approximate prices you could expect to pay for them. If you wish, we can go for a drive and look at the areas. It can be very frustrating just driving around yourself and not really knowing the value of that particular area.
May I suggest you go to your Finance Broker to ascertain the amount of money that will be available for your purchase. This can save a lot of time and heartbreak. Nothing worse than finding the "perfect home" and then not being able to borrow enough money to pay for it! The bank can give you a "pre-approval" amount to go to. This allows you a lot more bargaining power when you are purchasing.
Together we will make a list of the properties you may be interested in. just remember, I am able to offer you not just the properties I have for sale but also source properties through other agents (this is called selling "in conjunction"). Dealing with just the one agent allows you to be able to really discuss everything and compare all you see. It can save the confusion of everyone having a different version of what is best for you.
Now that you are actively inspecting properties, make notes on each of the properties you view. It can be confusing so write down the features you like and that are important to you and how you feel about each property. Perhaps give them a rating.
Now, you've decided on the one! Now it is time for us to negotiate. You tell me the amount of money you are willing to pay for it but remember, I am the agent for the seller and as such I cannot advise you exactly what to offer but I can guide you in the right direction. Do you want to have any special conditions such as Building and Pest inspection? We will prepare a contract of sale and submit your "offer" to the seller. Should they sign it as it is, you now have a Contract of Sale. Of course, the seller may wish to alter the document - he may want more money or wish to change the settlement date. The seller then makes these alterations and I will bring his "offer" back to you for your consideration. Our job is to have both the seller and You finally agreeing.
Whilst many contracts in Queensland have finance and building and pest inspection clauses worded in the contract, if you wish to have any other clause submitted to the seller we will request your solicitor to supply the wording. The majority of contracts in Queensland have a settlement date of about 30 days from signing however this can be negotiated. Time will always be of the essence of the contract - which means, when a date is set, that IS the date they mean; it can't be altered without both parties signing an agreement to alter it. If you do not abide by the dates set, you are in breach and may lose your deposit and/or be sued.
As a buyer, you now have a five business day "Cooling Off" period. That means that should you have cold feet or just change your mind during those five business (working) days you can cancel the contract and have your deposit refunded to you, less a charge of .25% of the selling price which goes to the seller.
We, the agent, send the signed contracts of sale to your and the seller's nominated solicitors. This is for the conveyancing.
Your solicitor will ascertain that any clauses in the contract are met and will do various searches on your behalf. These could be Body Corporate (if you buy a unit), Main Roads, Sunshine Coast Regional Council to ensure no easements are on the land, pool fences are correct and the legality of existing structures on the property. They will complete a Title Search to ascertain the Owners are actually the ones as shown on the Contract of Sale. Other searches may be recommended.
In Queensland the State Government charges Stamp Duty. It is less if it is your Principal Place of Residence to an Investment Property. Check our calculator (under TOOLS) to ascertain this amount. You pay this money to your solicitor prior to settlement.
Prior to the settlement date as stipulated on the contract, you can have another inspection of the property to ascertain that it is as you inspected it. The solicitors arrange the settlement time and place between them and once this has been accomplished you will be advised of this and as to where you can collect the keys. CHAMPAGNE ALL ROUND!!!