Page 20 - Smartline eBook - First home buyer
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Buying your first home
Once you’ve found the right home, it’s time to put your best foot forward and make an offer on it.
There are generally two ways to purchase a home: at auction or via private treaty. Auctions are often popular in fast-moving markets such as Sydney and Melbourne’s inner city. In regional areas and other capital cities, it’s often more common for properties to be sold by private treaty.
Three steps you should always take before you buy
Before you buy a property it’s important to make sure everything is as it appears. That means taking these three steps before you buy:
1. Have a solicitor or conveyancer look over the contract and carry out any relevant title searches. They will make sure everything is properly documented and that you’re buying what you think you’re buying.
2. Getaprofessionalbuildingandpestinspectiondone.Theseshoulduncover any potential defects or damage that could end up costing you thousands.
3. Conductastratasearch.Ifyou’rebuyingintoastratabuildingyoushould conduct a strata search and check the minutes for any upcoming levies or work. Your solicitor or conveyancer should be able to do this for you.
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First home buyer guide