We're taking it back to the beginning. You have found the house of your dreams and you have decided you want to buy it.
What do I do once I find a property I want to buy?
Once you find a property you want to buy you should contact your solicitor. You should also let your lender know as they will need to assess that particular property to make sure they are happy to lend against it.
For example, Sonya and her husband have just gone through the house of their dreams and decided to put an offer on the property. The vendors have accepted the offer. Sonya now has to inform the real estate agent that her Solicitors are Kenny Spring Solicitors so that the agent can send through a sales advice for us to review.
Once we receive the sales advice from the agent we will call Sonya and her husband to arrange a time to meet to go through the contract and discuss the purchase in more detail. Sonya must also contact her bank and advise them of the purchase price that was agreed upon by the parties and the address of the property.
We will then send a copy of the front page of the contract to Sonya's lending bank who will order valuation reports and will start preparing the finance application and other relevant documents required. Proceeding in this way will make sure we are in a position to exchange as soon as possible so that Sonya and her husband don’t miss out on their dream home.
Please note the answers provided are for your general information only and we ask that you call our office on 02 6331 2911 to obtain detailed legal advice for your individual situation.
Rachael Thurn | Property Conveyancer