1. Vendor’s Statement
You should always see a Vendor’s Statement or “section 32” before making an offer on a property. Make sure you’re buying what you think you’re buying. We can look this over for you, if you like.
2. Read the Contract
It’s surprising how many people don’t! If it looks daunting, focus on the particulars pages and the special conditions. Otherwise, get us to look at it before you sign it.
If the Contract says you have to pay a particular amount as a deposit, make sure you have that cash to pay. Speak to us if you don’t have the cash.
If you have to lend money from the bank to buy the property, make sure the Contract is conditional on you getting that loan approval. We can help with this, if you are unsure.
5. Cooling Off
You have 3 days to cool off on a Contract for residential property, unless you bought at auction. If you don’t get us the Contract within those 3 days, we can’t give you advice in case you need to take advantage of this cooling off right.
These are the items listed in the Contract that stay at the property when you buy it. Don’t assume anything – list everything you want to make sure stays at the property.
When working out what you can afford, make sure you find out what the stamp duty will be on your purchase, and whether you are entitled to any concessions, such as if you are going to live in the property as your principal place of residence.