So, you’ve spoken to the bank and got your Pre-Approval (step one). Now it’s time to go house hunting. Let’s skip forward to finding your dream home…..
A brief outline on what happens next when buying via a Private Treaty (normal For Sale) property
1. Purchaser & Seller sign a contract. Purchaser pays a deposit of 0.25% of the purchase price
2. The Seller is committed to that sale, the Purchaser has a cooling off period – usually between 5-10 business days
3. Purchaser uses cooling off period to finalise finance & conduct property inspections (pest & building)
4. Towards end of cooling off period Purchaser pays 10% deposit. As soon as the cooling off period expires the property is officially SOLD!
5. There is usually about a 4 week period where Seller packs, moves etc
6. Settlement Day – Seller hands in keys to agent, property settles & Purchaser collects keys to their new home
If you have any questions about the process involved in buying a new home please feel free to give me a call and I’ll help out with any questions that you may have.
Josh Tonkes, 0404 580 625
Director – my house realty