Why buy with Watt?
We never make a buyer wait. For anything.
We know that every moment in a buyers decision journey matters. That’s why we’re all about seriously good service. We empower all of our staff (from our receptionists to our CEO) to have 99% of the answers for every property we sell.
Searching for the perfect home may seem like hard work, but if you do your homework and take your time the whole thing will be a lot easier. Here’s few tips:
- See a variety of properties to get a feel for the market
- Know what you’re looking for before you set out by researching thoroughly online
- Sign up to all the property alerts you can and
- Tell agents what you’re looking for.
When it comes to finance it’s important to shop around and explore your options. That’s how you find the best deals out there. Consider a broker if you’d like someone to do the legwork for you.
Getting a pre-approval will help you shop with confidence and bid at auction – should your dream home come onto the market with this method of sale. It also shows agents you’re serious about buying a home, not to mention:
- Valid for up to 3 months and
- Give you clear guidance on how much you can spend.
You’ve found the house that meets all your needs and now it’s time to make an offer! There are two kinds of offers – unconditional and conditional.
This is an outright offer to buy the property. Once the seller has accepted your offer, you’re legally obliged to go through with it. There’s no backing out.
Buying a property and making your offer subject to several conditions is normal. A conditional offer is also a binding contract, provided that all your conditions are satisfied. These may include:
- Subject to finance.
- Subject to pest inspection.
- Subject to building inspection.
- Subject to the sale of your current home.
Auction bidders, your purchase is always unconditional.
The Contract of Sale is prepared by us (the agent) and outlines your offer, the date of settlement and any conditions that you’d like met before the sale goes ahead. Once you agree to purchase the home, you’ll need to provide a copy of the contract to your lender and solicitor.
If you’re buying privately, you’re usually required to pay a holding deposit (can be anywhere between $2,000 and 10% of the purchase price). If you’re buying at auction, you’ll be required to pay a deposit (usually 10% of the purchase price) on the day.
The time that it takes for your property to settle can vary. Common terms include 30, 60, 90 or 120 days. In that time, your bank works with the conveyancer/solicitor you have nominated to get your paper work ready in time for the big day.
Settlement usually involves a face to face meeting (still!) between the seller’s solicitor/conveyancer and bank representative and your solicitor/conveyancer and bank representative. This is where the important stuff happens like document reviews and exchange of funds. Once settlement is confirmed, the keys are handed over and your house is finally yours!
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