Buying Tips

Gateway to... buying real estate in NSW

Ten Steps to Stress Free Buying

At Gateway real estate we understand how stressful the process can be of buying and selling real estate we have therefore made a core value of our business to provide the sort of service that enables this process to move as smoothly as possible. In line with this we have put together a few tips for buying real estate in NSW to enable you to enjoy what will always be a significant moment in your life:

Step 1: Alleviate the stress of financing early 

Finance problems destroy many buyers dreams. Therefore we would always recommend before you do anything that you speak to an independent financial advisor who can provide you with a wide range of options to ensure you have the best loan arranged that suits your own unique situation and needs. It is always best to have your finance approved before you go out looking, as this can often speed up the whole process, particularly as you will know exactly how much you will be able to afford to spend.

Step 2: Know where you want to be 

To save wasting time looking at unsuitable properties. Go for a drive through the area you are interested in, speak to the locals, check out the local services, and pop into the tourist information centre. Use this research time to work out which particular villages, areas or suburbs particularly suit your personal circumstances bearing in mind the budget that you are working with.
For more information about the Northern Rivers click here.

Step 3: Work with a good local agent

It is important that you are in touch early on with a local agent as they will be able to offer you a wealth of additional advice. At Gateway real estate we pride ourselves on our extensive local knowledge built up over many years living and working in this area so what better place to start than calling Doug Allan on002 66322122. In addition to this by staying regularly in touch with your agent you will often be contacted about new listings before they are publically advertised.

For more information about Gateway real estate please click here.

Step 4: Avoid legal pitfalls

Ensure from an early stage that you have a good solicitor or conveyancer arranged as you will rely heavily on their legal expertise and advice to ensure that the property you are purchasing does not have any legal issues that could affect its long term value.

Step 5: Avoid dealing with multiple agents

It is important to look at a few properties before you buy therefore we would recommend preparing a short list of properties that meet your requirements. However often these may be listed by a variety of different agents which is a headache co-ordinating. At Gateway real estate we have a very good relationship with the other agents in the area so even if a property is not currently listed with us we will happily co-ordinate all your inspections for you, ensuring that you only need to deal with one person and the stress of booking in appointments is taken away.

Step 6: Reduce the stress of negotiating 

Once you have found the property you wish to purchase you should immediately contact the agent who has shown you the property and let them know about your intention to submit an offer. The sooner you do this the more favourable you will be seen by the owner. When you contact the agent, make sure you have all the details ready that the agent will need about yourself, your solicitor, your finance and proposed settlement dates. Make sure everything possible is agreed at the initial stage as this means everyone will know where they stand and the process will then normally move smoothly onwards.

Step 7: Don't inheriting other people's problems

Once a sales advice has been sent out to your solicitor or conveyance we would recommend that you arrange a building and pest inspection on the property to ensure that you are aware of any defects or pest concerns. This will give you peace of mind that you are buying something solid that will last.

Step 8: Speedy Exchange of Contracts

Once negotiations are complete, and your solicitor is satisfied with everything, you will be required to sign the sale contract and pay a 10% deposit. It is important that this happens as quickly as possible as it is not until this point that your purchase is secure. It is also important at this stage to take out insurance on the property as you are the legal owner of the property after exchange of the contracts.

Step 9: Don't forget anything

Prior to settlement it is important to have your removals arranged. However there are a number of other things that need to be arranged. To aid you in this we have therefore created a Moving Checklist.

Step 10: Ensure no last minute issues

On the day of settlement it is important that you have a pre-settlement inspection to ensure the property is in the same condition as when you inspected it and that all inclusions still remain in the property. This will enable you to act on anything that might be wrong prior to the final transfer of funds.