Buying a property can be very stressful.
However, it need not be if you follow these simple rules:
- Always seek legal advice.
- Don’t look for a property until you have confirmation of what finance is available to you. Also, know what deposit you can access to make an offer on a property.
- When you find a property, check that it is near the facilities you and your family require, such as schools, recreational facilities, transport etc.
- Once you have decided to buy the property, speak to your solicitor as to how you should proceed.
- Be aware that until you sign a contract, pay the deposit and the sale is unconditional, the property can still be on the open market.
Once our agency has the above information, we will provide you with properties which suit your Buying Agenda and where appropriate, book inspections for you to visit the properties.
PRIVATE TREATY
This is when a property is offered For Sale in the market place and people are able to make an offer on the property.
OFFER & ACCEPTANCE
Once you have inspected the property and found it suitable to your buying agenda, you have the opportunity to make an offer.
The owner then has the option of accepting the offer or asking our agency to negotiate for another offer.
When the owner accepts the offer, the Contract of Sale is prepared by the owner’s solicitor and forwarded to your solicitor.
Your solicitor will discuss any issues regarding the contract; determine that you understand the terms of the contract and the settlement time.
You will then be required to sign the contract and pay the deposit.
Contracts are then exchanged with the vendor’s solicitor, and the property is considered unconditional once all Special Conditions and Cooling Off periods
are completed.
AUCTION
If you want to buy an Auction Property, all the conditions of purchasing a property by Private Treaty (finance approval, deposit, and settlement) must be place prior to the Auction.
You should meet with your solicitor prior to an Auction, to ensure you understand how the Auction process takes place.