Taking a little bit of time to be organised before you start house hunting will help ensure the process goes as smoothly as possible once you do find your dream home.
We’ve listed our top tips to avoid potential challenges and delays as you embark on this exciting process and move one step closer to picking up the keys for your new place.
Inspections
If you’re told other buyers are waiting in the wings, you’ll probably feel pressured to finalise the deal quickly. But, don’t miss important steps. Always commission building and pest inspections even if they add a week to the process.
Remedial work
If an inspection finds problems, you’ll need to get quotes for the repairs. These should be presented to the seller as part of the final negotiation. If you buy without knowing the cost of necessary repair work, you take a big risk.
Money on the table
Always organise your finances before you start searching for a new home. Failure to have pre-approval for a mortgage will almost certainly send the seller in the direction of other buyers.
Legal help
Look for a solicitor and conveyancer when you begin your house hunt. Wasting time searching for legal representation just as you need to sign contracts creates delays and endangers your deal.
Paperwork
There’s no escaping the need for documents and signatures to be gathered and verified. A conveyancer usually does this and takes a few weeks to complete the process.
Cash transfer
It usually takes 24 hours for your lender to transfer funds to the seller’s account. Once it’s done, the agent will hand over the keys!