Purchasing a property, whether for personal use or as an investment, may be a stressful time for some people.
Buying a house is a huge financial investment and potential purchasers need to make sure they research the local market before committing to a purchase.
Apart from the actual purchase price of a new home, buyers should budget for a number of other costs associated with buying a property.
When considering the loan offer, you should be confident that you can comfortably make the regular repayments.
It is essential that both parties have a clear understanding of the items that are included in the sale of the property.
When making an offer, consider what you feel the property is worth whilst paying careful attention to your own personal limit.
Generally, the deposit is 10% of the sale price, however this amount is negotiable and in the case of large property sales, is often less than 10%.
When purchasing property in South Australia by private treaty, purchasers are generally entitled to a 2 day cooling off period.
People who are interested in purchasing a property are strongly encouraged to hire a reputable building inspector to examine the property before committing to a contract.
A conveyancer is your personal legal representative and they should be able to answer your questions about the process leading up to settlement.
In general, settlement periods are between 4-6 weeks however it is not uncommon for either party to request a variation to this period of time.
The Real Estate Institute of South Australia Inc. (REISA)
RTO ID: 4965
ABN: 82 286 272 500
249 Greenhill Road
Dulwich, South Australia 5065
Phone: 08 8366 4300