Handy tips for buying...

  1. Speak with your bank, mortgage broker or financier to arrange the best loan to suit your needs. Having your finances organised gives you a better chance of securing a purchase and is an asset when negotiating with vendors. If you're bidding at auction, make sure you have adequate funds in your cheque account to pay the deposit.
  2. Prepare a short list of preferred locations within your budget that will suit your lifestyle. Keep in mind affordability and accommodation requirements.
  3. Make a list of the attributes you most desire in a property, including your ‘must have' features, such as location, number of bedrooms or parking.
  4. Sign up for the KeyNorth Property Alert and get in front of the crowd.
  5. Research sales in those preferred areas using Sydney Morning Herald Price Guide, the KeyNorth Recent Sales guide or Australian Property Monitors website. Attend every open for inspection and / or auction in the preferred locations so you have a feel for the quality, quantity and price.
  6. Develop a relationship with a KeyNorth Property Consultant. The agent will be able to offer additional advice and also alert you to new listings before they reach the media.
  7. When you find a property that suits your requirements, ask your agent to send a copy of the sale contract to your solicitor or conveyancer.
  8. We recommend that you arrange a building and pest inspection to make you aware of any major defects and pest concerns eg: white ant, termites.
  9. Following your solicitors or conveyancer’s advice on the sale contract and taking into consideration the building and pest reports, you are now able to make an informed decision to proceed with an offer on the property through the agent.
  10. If you are bidding at an auction, we recommend you read the Office of Fair Trading's "Bidder's Guide" before you attend the auction. You can find a copy of the Bidder's Guide at www.fairtrading.nsw.gov.au/pdfs/secondarymenus/publications/ftr31.pdf
  11. Once negotiations have been finalised, you will be required to sign the sale contract and pay a 10% deposit. Your deposit will be held in our trust account or in an interest bearing account until settlement. 
Interest is normally equally divided between you and the vendor. The vendor will sign their sale contract and the solicitor/conveyancer or agent will exchange the contracts.
  12. On settlement day, your solicitor or conveyancer may request that you have a pre-settlement inspection before settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it and that all the inclusions are as per the contract you signed. 

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