Page 6 - Smartline eBook - First home buyer

5. Attend open homes
It’s time to get serious about your search and get to know local real estate agents. Almost every property search has some compromises. So work out your non- negotiables and look for homes that tick most of the boxes.
›› DO: Use the inspection and auction planner at realestate.com.au to help you map out a plan for a successful open home trip.
6. Home inspection
When you find a property you like, organise a building and pest inspection and have a solicitor or conveyancer look over the contract (this step can help save you a lot of hassle before making an offer). If you haven’t got conditional approval on your loan, now is the right time to apply.
›› DO: Talk to your Smartline Mortgage Adviser about your home loan options. 7. Make an offer with confidence
If everything looks good, it’s time to put your best foot forward by bidding at auction or making an offer ‘subject to finance’ unless you’re prepared to lose your deposit in the event your finance is declined.
If your offer is accepted or you’re the highest bidder at auction, you’ll need to sign the contract and pay the deposit – this is usually 10% of the purchase price but can sometimes be negotiated.
8. Finalise your loan
Your lender will run final checks before giving what is called ‘unconditional approval’ on your home loan. Meanwhile, your solicitor or conveyancer will be taking care of the rest of the documents.
9. Get ready to move in
Start packing. Also, make sure you’ve arranged everything you need to move in, such as removalists or cleaners. Don’t forget to connect or transfer your utilities and organise home and contents insurance.
›› DO: Take advantage of the connection service available on realestate.com.au to get everything up and running before you move in.
10. Settlement day
Your solicitor or conveyancer will arrange settlement with the vendor’s solicitor or conveyancer – this is usually 30–90 days after the sale. You generally won’t need to be present. This is also when your lender provides your finance and the day your mortgage and life as a property owner begins.
Congratulations! You’re officially a home owner.
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First home buyer guide