If you have decided to relocate to Brisbane, you certainly aren’t on your own and whether the house purchase is for you and your family, or you are looking to invest in a second home, Brisbane has enjoyed steady land price increases for the past 5 years. For many, Brisbane offers the perfect retirement location and properties do not usually remain on the market for long. If this is your first purchase then you should enlist the help of a reputable local conveyancing solicitor, who can carry out any necessary property searches on your behalf.
Unless you have an inheritance or had a lottery jackpot win, you will need to source a mortgage lender. No seller will take you seriously without preapproval, which is almost a guarantee that you can, in fact, buy the property. There are independent mortgage brokers online who will secure preapproval in a matter of hours rather than days. There are many types of mortgage so take your time and by dealing with an independent broker, he can source a lender that offers a suitable package that best meets your needs. Once you have preapproval, you can begin to view properties that are within your price bracket and with online estate agents, you will get to see all properties that meet your requirements.
Negotiating the Purchase
Once you have found a property that ticks all your boxes, the next step is to make an offer. This is where your negotiation skills come into their own and don’t be afraid to ask the seller if certain items can be included in the sale, such as garden furniture and other features. If the seller wants a quick sale, they are more open to negotiation and if you really do have your heart set on this one, make a fair offer and the chances are you have a deal.
Once an agreement has been reached, the seller will prepare the contract of sale and your Brisbane conveyancing solicitors will begin to carry out searches on the property to ascertain who the owner is and whether there are any restrictions. As to which searches you undertake, that very much depends on the property and your legal representative will be able to advise you accordingly.
Scrutinising the Contract of Sale
Before signing anything, your solicitor will closely scrutinise the contract, making sure that everything is as agreed and should the lawyer find anything amiss, he would notify you. Once he is happy with the contract, the purchase process can begin and in a short time, your name will be on the Title deeds and the payment is made to the seller. It is important when budgeting for a house purchase to include everything – your conveyancing solicitor should operate on a fixed fee basis – and let’s not forget stamp duty and removal expenses.
As long as you can afford the mortgage repayments and have a little set aside for the initial occupancy, your new home will provide you and your family with many years of comfortable living.