Purchase of Property

We can assist with all your property purchases, whether it is residential, commercial, industrial, rural, vacant land, or retirement village.

A property can be purchased by a private treaty sale where the price is negotiated with the agent, or by auction. Where it is by auction or with a pre auction offer, there is no cooling off period therefore we need to review the contract for you, negotiate any required amendments, assist you to obtain a strata report or refer you to a building and pest inspector, and you need to have loan approval in place before signing a contract.

Sometimes an agent may call for best and final offers with the condition being that a buyer waives their cooling off rights and so the same due diligence needs to be carried out before the contract is signed.

An agent may call for expressions of interest and if you offer is accepted, you may be required to waive your cooling off rights.

Alternatively, a contract may be exchanged with a 5 or 10 business day cooling off period where a non refundable deposit of 0.25% of the price is paid on signing the contract and the balance of an agreed 5% or 10% deposit must be paid at the end of that period. During that time, building and pest reports, or a strata report are obtained, any contract conditions negotiated and unconditional loan approval secured.

It is wise to obtain a pre approval for your finance before you find a property to purchase so that once your purchase is negotiated, the bank can move more quickly to obtain a valuation and issue an unconditional approval.

We can order any necessary pre purchase reports for you including strata, building and pest, survey, pool inspection, engineer’s reports and we can refer you to a private planner if you need planning advice. We can also refer you to a Deposit Bond company if you need to provide the deposit by way of a bond where a cash deposit is unavailable.

We need to carry out a full review of the contract for you before sign so that we can advise you on the terms and conditions, title, zoning, location of sewer main and other relevant factors. This can be done in the cooling off period if you are unable to provide the contract to us before you sign, although it is preferable that we read it before it is signed.

After exchange of contracts, we will conduct government searches, deal with your bank in relation to loan documents and the bank’s settlement requirements, arrange for payment of stamp duty, prepare any applicable first home purchase documents and support you through all of the stages to settlement.

Contact our expert team

Office: Suite 4B, Ground Floor, 32-34 Florence Street, Hornsby, NSW 2077

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