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Buying

Buying

Committed to your needs

Landmark & Harcourts have been helping people to buy and sell property for over a century. Landmark Harcourts Stawell are committed to helping you turn your property dreams into reality.

When you come to Landmark Harcourts Stawell in search of your perfect property, your personal real estate consultant looks to establish your goals and set about achieving them for you. It is their job to listen to what you want and to work with you with care and consideration at all times.

Your real estate consultant will guide you through the process of buying a home, block of land or farm, provide information on property values, investment potential, finance options and legal requirements.

It is all part of the extra-effort service. And best of all, its all entirely free of charge.

Finding your home


Your Landmark Harcourts Stawell real estate specialist will follow on from your original meeting by arranging inspections of currently listed properties that fit your criteria. You will see photographs and detailed description of all properties we have listed which meet your requirements.

When you see something you like, your consultant will arrange you a viewing. To see a full list of Landmark Harcourts Stawell listings use the search feature on the left of you screen.

Your wish list

We often hear " but the agent didn't listen to me!" While this may be true of some agents, your Landmark Harcourts consultant is trained to listen- not to talk.

Knowing you requirements early really helps us help you. Sometimes however, your circumstances and priorities can change. Often, we will check with you to ensure we remain on track.

Facts that help us in finding you the right property include:

Regions/ Suburbs

Price range

Number of Bedrooms & Bathrooms

Style of Home

Proximity to childcare/ schools/shopping

Block Size

Car parking/ Shedding

Special Requirements ie. pool, no stairs

Your essentials


It is important that we know the absolute most important feature you want in a property and will not compromise on. They may include:

A separate office/study

Single storage

Security

Garaging

Low maintenance garden

These requirements are unique to each buyer. Also give some thought to feature you most definitely do not want in a property.

Searching for properties


Many buyers search the internet prior to viewing properties.

You can use the Property Search function to the left of this page for a comprehensive search of all properties listed with landmark Harcourts Stawell. There will be numerous photos plus text of the property and residential properties may well have a virtual tour attached which you can watch.

Loan calculator


Please click here to use the Mortgage Express Loan repayment calculator.

Inspecting properties

Your consultant will show you those properties that best fit your requirements. This will be at times to suit you and the owner of the property or a tenant if it rented. Your consultant will advise you of any new properties that have been listed. Talk with your consultant on how you wish to be advised of new listings i.e. via email, text or phone call.

Inspections of properties take time. We recommend you do not rush or disregard too quickly. Try not to judge a property from the outside only. Some properties have little or no street appeal, but have much to offer inside. An inspection will confirm your first impression or will pleasantly surprise you.

When the right property presents itself be prepared to make an offer. We will encourage you to do so as many people have found their perfect home and missed it because they didn't take the opportunity when it was available to them.

Going to contract


When you are ready to write up a contract, the next step is to decide on the price you wish to offer the seller and under what conditions you wish to make the offer. Common conditions of sale are: subject to finance, a builder's report, pest report, sale of another property, solicitors approval of the contract or specialist inspection or approval.

The sellers can accept your offer, reject it or counter sign it. Counter signing usually occurs when the seller is not satisfied with the price offered and/or the conditions included and subsequently alters them. the contract will be brought back to you for your consideration. If you accept, you initial the seller's alteration and the property is under offer to you subject to any conditions that the contract may contain. Alternatively you also have the right to counter sign. Your sales consultant will continue negotiations between you and the seller until you are both in agreement.

This process will not generally occur when buying at an auction. (See information on "Buying at Auction" below).

Buying at auction

Buying at auction avoids the prolonged waiting of the traditional offer/counter-offer negotiation process and uncertainty of what another buyer may be doing. During an auction bids for the property are called in an open arena on a given day and time. If your bid is accepted you'll have the satisfaction of knowing you have purchased at true market value.

The dangers of offering too low

Once they find the property they wish to purchase many buyers are tempted to "start low" with their offer.

We understand, but would not be giving you complete service if we did not warn you of what can happen.

1. The seller could feel insulted, and become difficult to negotiate with from then on.
2. The seller may think you are a bargain hunter " having a go" without serious intention to buy and dismiss you offer altogether.

If you are serious about purchasing the property it is wise to make a genuine offer that reflects your serious intention and appreciation of the true value of the seller's home.

Common conditions of sale

Along with the standard terms of the contract both buyers and sellers are able to insert further terms and conditions of sale. When writing in any special conditions the key parts are who is doing it; what are they going to do; when are they going to do it by; what standards will apply; what happens if it is not satisfied and who can waive it.

Once an inserted condition has been satisfied notice will be provided to the other party usually be the solicitors involved.

A condition can be either satisfied or waived. If you have inserted a condition but it has not been met by the required date you can choose to waive that condition. If the condition is neither satisfied nor waived then the agreement will be terminated and any deposit paid by you will be refunded.

Some common conditions of sale are:

Conditional on sale of purchasers property becoming unconditional by a given date
Inserting this condition allows you to sell your property before purchasing. Use the appropriate clause to allow you to sell your property or for an existing contract of sale to become unconditional in all aspects of the contract.

Conditional upon Finance
Conditional upon obtaining Solicitor's Approval of the Contract
Conditional upon obtaining a building and pest inspection report.

Each condition needs to be clear in wording and dates specific and if there are costs who is liable for these costs.

Paying the deposit


Once all parties have signed the contract you will be asked to pay a deposit. This usually equates to 10% of the purchase price.

Property insurance

In some states of Australia you can be responsible for the insurance cover of the property you are buying from the first business day after the contract has been signed.
Landmark Harcourts Stawell can provide you with our insurance professionals contact details to provide you with temporary insurance cover and "peace of mind".
This option will reduce your time in searching for coverage through the many insurance providers in the market today.
Your Landmark Harcourts consultant can provide you with all this information.

Have you arranged your finance?

You don't need to wait until you've found a property before you arrange finance. It's a good idea to find out first just how much you can borrow-that way you know what price bracket to start looking in and what level of repayments you're comfortable with.

The problem that most people face today, however, is "which home loan is the right one for me?" There are so many options when it comes to banks, products, rates, terms and fees. With the purchase of such a large investment, you need to be confident that you have made the right financial choice.

Mortgage Express is a team of banking and financial specialists who can give you expert advice, at a place and time convenient to you- and at no cost. Their team of consultants represent a range of banks, building societies and non-bank lenders. Their advice is unbiased so can focus on your needs.

Mortgage Express eliminates the need for any bank interviews. Once you have seen them, you immediately have the choice of many lenders and they will often get better terms than the bank will offer you direct. They also can arrange funds for your deposit once your offer is accepted.

The advice is free and there is no obligation. Talk to your consultant and they will put you in touch with a Mortgage Express representative.

Visit: www.mortgage-express.com.au
Phone: 1300 853 118


Property purchase costs


Financial fees vary greatly, depending on such matters as what percentage of the property value that you will be borrowing, the amount of the loan, the amount of the purchase and which bank you are borrowing funds from. If you speak with your local Mortgage Express representative you can quickly ascertain approximate costs for you particular circumstances.

Possible expenses you may incur are:

bank fees which may include:
Lender application fees, valuation fees, legal and settlement fees
Lender monthly account keeping fees (if applicable)
Lender "Professional Package:" annual fees (if applicable)
Lender's Mortgage Insurance (if applicable)
Lender retention account fee (if applicable)
Title transfer, Mortgage registration fees
Registration of mortgage discharge (refunded by seller at settlement)
Solicitor's charges may include legal searches (please consult your legal rep)
Stamp Duty on Purchase
Home protection insurance
Miscellaneous cost (Building/ pest inspection, rates, removalists ,etc.)

Completing the purchase

Before settlement your solicitor will undertake the necessary searches with respect to the property and your financier will prepare the mortgage documentation.
On settlement your solicitor will exchange with the seller's solicitor:
Monies
Transfer Documentation
Keys to the Property (these may also come from your agent)

Within a few days of settlement your solicitor or financier will register the necessary documentation and mortgage transfer with the Land titles registry.
Possession of the property usually takes place on the settlement day although the seller and buyer can agree for these dates to be different.

If you would like further information pleaseĀ  call into our friendly office to discuss buying a property or call our office on 03 5358 2100 and ask to speak to a sales consultant or email: bruce.mcilvride@landmarkharcourts.com.au

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