Question 1

What are some tips for buying real estate?

Accepted Answer

First step is to decide what kind of home you are looking for. Establish priorities and anticipate potential changes in lifestyle such as job changes, schools, family size, etc. Next establish a price range you can afford and a short list of preferred suburbs that suit your lifestyle. Lastly, start hunting. Research properties that meet your criteria, be sure to inspect every property.

Question 2

What happens on settlement day?

Accepted Answer

Payment of the loan will be authorised by the lender and then made to the vendor. You or your solicitor will authorise the vendor to collect the deposit that has been made by your real estate agent. You’ll then receive a signed transfer of title deed and your solicitor or bank will arrange for the transfer and loan to be registered. Lastly, the stamps duty on the home loan is paid and that's it!

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