Looking to Buy?
Whether you are buying for the first time or are a seasoned buyer, the Jump team will provide you professional advice and support throughout the buying process.
The Jump team are up to date with any grants or concessions that may be available to you such as the First Home Owners Grant or the Seniors Housing Grant. See revenuesa.com.au for more information.
So, what can you expect when buying a house?
Gather your team & get your house in order!
Talk to your mortgage broker as they can assist you to understand the many lending products available and help you establish your buying capacity. A good broker should keep you updated as banks have ever changing policies, let the broker do the heavy lifting!
Find a conveyancer who will assist with the legal component of purchasing and the settlement process. If you don’t have a conveyancer ask the team from Jump, we can offer a referral to several trusted professionals who we deal with regularly and know to be prompt, efficient with great communication & service.
Go house hunting
The fun begins! Set up alerts on websites such as domain.com.au or realestate.com.au for property coming onto the market in areas of interest to you. Prepare a wish list of the features of your ideal property.
Get out and about and visit as many properties as you can to develop an idea of the market in your chosen area. Attend opens, talk to the Agent and take notes. Use online resources (such as pricefinder.com.au) to gain an idea of sales in your suburbs of interest. Speak to Agents and tell them what you are looking for and asked to be put on their data base so that you can be contacted when a property comes up that matches your housing needs. There are sometimes ‘off-market’ properties that are sold directly from the agent’s data-base.
You have found a property you like and want to make an offer
Now things are getting interesting! Ask for the Form 1. This document should be available to review when the property goes to market and is a disclosure by the vendor about their property, about such details as council rates, council approval for improvements and additions, whether any other party has an interest in the property or if the property has any easements. There are different rules about the Form 1 for private treaty and auction. Use your conveyancer to navigate and understand the Form 1.
Completing an Offer Form / Letter of Offer is not the same as completing a contract. The Agent will be in contact and invite you to sign a contract of sale which becomes legally binding once the vendor agrees to & accepts your offer.
Buying at auction requires that you have undertaken your research on the property, including any building & pest inspections before auction day and that you have your finance arranged. When buying at auction you sign a contract of sale. This is legally binding and unconditional as there are no cooling off rights (see below) and cannot be subject to any conditions (also known as ‘cash-unconditional’). You will need to pay the deposit (or part thereof) on the day of the auction.
Going to contract
For private treaty / by negotiation sales the ‘cooling off’ period is two clear business days. This allows purchasers to organise a building inspection or pest inspection and they can withdraw from the sale if there are any concerns.
Once the cooling off period has ended you will be required to pay a deposit (often 10% of the purchase price). This is paid to the selling Agent and is held in their trust account until settlement; their office will provide you details and instructions on how to make payment.
You may also have a subject to finance clause and a time frame (usually 14 days) in which your bank or broker needs to obtain formal approval of your loan. A valuation may be required on the property you are purchasing, this can be arranged by your broker or bank.
Your conveyancer will support you through the settlement process and advise on what you need to have in place prior to settlement. It is a complex legal process whereby your conveyancer will verify your identity, prepare transfer of land documents, book settlement with your bank, transfer titles, and calculate rates and taxes. Once settlement is completed you will be contacted by your conveyancer and you will be able to collect your keys.
The fun bit!
Pick up the champagne. Order the takeaway. Get over to your new abode to celebrate your new purchase with your favourites!
Loaded With Charm, Updated With Love....
Nestled in a Blue Chip suburb this home is the one you have been waiting for, with wide appeal to retirees, professional singles or couples this home has you located close to the cafe culture on East Avenue or the funky Goodwood Road shopping and cafe precinct.
Fully fenced yard with loads of room for the children or dog to play, you can use the sunny backyard to grow your own veggies or put in a pool maybe (S.T.C.C) or enjoy gatherings and bbq's with friends in a back yard that begs to be enjoyed. A lush fresh lawn, green and enticing awaits your arrival and your outdoor furniture!