Purchaser
Checklist

•  Deposit – paid to the Real Estate Agent to be held in trust pending settlement.  The Deposit is fully refundable in the event the purchase falls over prior to exchange.
• Finance – obtain pre-approval with your banking institution.  Upon exchange of contracts you will need to forward a copy of the binding contract to your financier together with Certificate of Currency (insurance) stating the name of your financier as an interested party.  You will need to sign mortgage documents as soon as practical after exchange so that settlement can occur on time.
•  Pest and Building – arrange a pest and building inspection as soon as practical.  This usually occurs prior to exchange unless otherwise agreed.
• Survey Report – a general enquiry as to the boundaries may be necessary in some circumstances.
• Council Records – request an authority to inspect Council records.  Look at the records to establish if there is a final occupation certificate and to see if all the structures of the land have development approval or not.
•  Septic Inspection – if the property has on site sewage then an inspection by a licensed plumber should occur to advise if the septic is in good working order.
• Stata Records – obtain a copy of the Strata Levy records.
• First Home buyers assistance – If you are a First home buyer we can assist with your application for a reduction or full waiver of the Stamp Duty fees
• Stamp Duty – Stamp Duty is payable on all purchases.  Find out how much this will be and add it to your sale price.  Stamp Duty Calculator
• Contract – we will go over the contract in detail with you.  This will include looking at any easements or restrictions on the use of land that may appear on the Title search.  The Length of the contract may be negotiated and any inclusions or exclusions pertaining to the property.
• Exchange of Contracts – Once you are satisfied this is the house for you it is time to exchange contracts.  Once this has occurred the Contract is binding on both parties.  Should you change your mind after this point your are at risk of loosing your deposit.
• Council Rates – These will be calculated up to the date of settlement.  All outstanding amounts owed by the Vendor will be paid at settlement.  Usually a portion of rates will also be paid in advance for your portion of the rates as well.
• Pre- settlement inspection – The purchaser should inspect the property with the Agent prior to settlement day.   If the property is in order settlement shall proceed.
• Settlement day –  Upon completion of settlement the Lands Titles Office will be immediately notified of the transfer and your name will appear on the Title.  If you have used a financier then they will hold the title documents until the loan is paid in full.  The agent will then provide you with the keys to your new home.

Call today for a no obligation initial consultation to discuss your options and we shall explain the process.

Contact us

• Tel: 0400 387 417

Email: alicia@carterlaw.com.au