FAQ FOR BUYERS

As the settlement date approaches everyone tends to be in a euphoric state of mind but buyers should still take a little bit of care. We recommend buyers contact their agent and visit the new property on the day before settlement to make sure it’s in the same condition as when they saw it last. This will give them time to contact their solicitors if anything has changed.

Contact us if you need any more information on this or any other property buying-related issue.

It’s very likely that homes built during the post-war period will contain asbestos because it was common practice in those days. Our top tip is to make sure you allow for an asbestos management program when estimating the cost of renovating a post-war house.

If you need more information on asbestos or any other property buying or renovation-related issue contact us now.

Buyers often want to know if a structure on a property, such as a car port, is council-approved. The added structure could be decades old and the current owner (and sometimes even the council) may have no record of approval. Buyers can opt to go ahead with the sale without knowing if a structure is approved or not. However, we recommend having a discussion with your solicitor. One option is to insert a clause into the sale agreement making the sale dependent on getting council approval for the structure.

If you need more information about council approvals or any other property buying-related issue contact us now.

Buying property is a potential minefield but prospective buyers can make the process much easier by keeping the THicks Real Estatee Powerful Ps firmly in mind. They are:

• Preparation – this includes thoroughly researching the market they are proposing to buy in to get an idea of price and property availability.
• Pre-approval – finance should always be pre-approved so buyers are able to take advantage of opportunities. It also gives them an edge in negotiations and makes their offers more attractive to the seller because they’re ready to proceed.
• Price – potential buyers can avoid being gazumped and facing the failure of their planned move by making a fair market-related offer in the first place and not playing games with the seller by starting out with an unrealistically low offer.

If you want to know any more about the THicks Real Estatee Powerful Ps or anything else related to buying your next property contact us now.

Buying a property at tender is similar to buying a property at auction, with one major difference.

A lot of buyers and sellers find the whole auction experience very daunting, because of the public nature of the process.

With a tender the buyer can place an offer for the property without the pressure and duress of auction bidding.

Yes. Buyers have two options when submitting an offer by tender.

You can request that your offer be submitted to the seller straight away.
You can simply place your offer in the tender box and wait for the closing date.
Importantly the seller can close the tender at anytime.

Hence, if the seller receives an offer that they are happy to accept, they can bring the close date forward.

Although, you can have conditions such as finance clauses and subject to building inspections, it is advisable to try and submit an offer that is ‘unconditional’, remembering that this status is going to be the most appealing to a seller.

Maybe.

If the seller receives another tender that they are happy to accept, you may not get a second chance to go higher. We encourage you to put your best offer in first, thus giving you the best chance to buy the property.

Alternatively, if the seller rejects all offers at tender, then they may instruct the agent to enquire as to whether buyers want to increase their offer.

As most sellers do their research before putting their home on the market, we encourage buyers to do the same when buying at tender. We will provide you with a list of comparable properties currently on the market.

When deciding on what price to offer, compare other properties you have seen and if you really desire the home put your best offer in first – remember with tender you decide what you are willing to pay.

A sneak peek is an exclusive preview of our upcoming listings shared only with our email subscribers.

These properties have not hit the major real estate websites yet, so it’s a great opportunity to get your foot in the door before everyone else does! *pun intended!

If you are interested in any of these properties, make sure you contact the agent quickly.

When a buyer signs a contract to purchase a property they must pay their deposit to secure the sale. The deposit cheque is held by your agent in a trust account.

Once a buyer makes an offer on a property and it is accepted by the seller, a 5 business day cooling-off period begins. This means that the buyer can back out of a contract for ‘no reason’ within these five days, however fees and charges will apply. If you are buying by auction, there is no cooling-off period.

In a contract to purchase a property, a sunset clause allows the buyer a certain number of days to sell their current property, in order to fund and purchase the new property they want to buy. Watch as Justin explains.