The Buying Process
The following is a brief summary of the buying process:
1. Commence your search
We will work with you to determine your needs and then match properties to your criteria and create your short list of suitable homes for you to view.
2. View properties
We will organize a tour of the properties on your short list at a time that is convenient to you.
3. Offer (Contract of Purchase and Sale)
Once you have identified your preferred property, we will prepare an offer to be presented to the Seller’s Agent.
4. Counter offer
This is when the Sellers returns the contract amended with their terms and conditions, e.g. a different price or date for completion. At this point the buyer has the choice to either accept these terms or re-counter with their new terms, e.g. a different price. This negotiation process will continue back and forth until both parties can agree.
5. Acceptance
When both the Buyer and Seller agree to all the terms and conditions in the contract, it is said to be “accepted”. Upon acceptance, the buyer will commence their due diligence on the property in order to satisfy their subject conditions, e.g. completing a building inspection, reviewing strata documentation, arranging financing, etc. The Buyer typically has a period of a week from acceptance in which to remove subjects.
6. Firm (subject removal)
Once subjects have been removed, a firm and binding contract exists. The deposit is paid across into our trust account within 48 hours of the contract becoming firm. We will assist with arranging a lawyer to convey the purchase for you.
7. Completion
The balance of the purchase price is paid across to the Seller on the “Completion Date” and the title is transferred to the Buyer.