On the Seventh Day of Christmas...the property market was beckoning

Posted on 19 December 2011

If you are considering purchasing a property over the holiday season, here are our top 10 tips to consider prior to setting out to find your dream home.

  1. DO get finance approval from your lending institution before you start negotiating on a property or bid at an auction
  2. DO make sure that you ensure you have sufficient finance to cover additional items required to purchase a property such as stamp duty, legal’s, cost of reports moving costs and so on.
  3. DO your Pest, Building and Strata Inspection reports.
  4. DO make sure your solicitor is available during the vacation period or make sure that they are contactable.
  5. DO get your solicitor to review any contract for any premises you are considering buying BEFORE you sign it or BEFORE cooling off expires.
  6. DO NOT attend any Auction without a full loan approval.
  7. DO NOT bid above your maximum available funds if attending an Auction.
  8. DO NOT rely on word of mouth warranties on a property, from the Agent or the Vendor, make sure you undertake the necessary investigations and inspections.
  9. DO NOT buy on impulse, make sure you do your research and know the property and the surrounding area you are looking at buying BEFORE you start negotiations.
  10. DO NOT assume all service providers like removalists, local councils, utilities, banks and the like will be open or fully staffed during the holiday season – expect there to be delays.

Dooley and Associates have a team of legal staff specialising in Property Conveyancing and Residential and Commercial Leasing. Contact us to assist you with your sale, purchase or lease.