1.
Seek pre approval from a reputable leading institution
2.
Set your limitation on purchase price
3.
Choose the area in which you wish to live and focus on that
area
4.
Advise all agents in the area of choice of your requirements
5.
Include your self on all data bases so you can be advised as soon as any
new property becomes available for sale or Auction.
6.
Inspect everything on the market at present to get an idea of property
value in the area you wish to purchase.
7.
If work is required to the property you are interested in make sure you
make an allowance in your budget for renovation costs.
8.
If you find a property to purchase request a contract and seek legal
advice prior to proceeding any further with negotiation.
9.
If you wish to make an offer your offer should be in writing accompanying
a deposit.
10. If the property you are interested in is going to
Action then:-
a)
Do all inspections prior to the Action.
b)
Get your solicitor to view the contract prior to the Action.
c)
Negotiate Terms of the contract through your solicitor
d)
Set you limitation on price and do not go above your
limit
11. When purchasing a for sale property you can
either
a)
Sign a Contract for Sale with a cooling off period. This secures the
property for you for a period of 5 complete business days and will assure you
that the vendor can not sell to any other purchaser during this period. However,
if you choose not to proceed with the sale then you will forfeit 0.25% of the
purchase price.
b)
Leave a holding deposit. This is simply a show of good faith and is
totally refundable. It does not secure the property for you. You are entitled to
be notified of any subsequent higher offers. However there is no commitment from
the vendor to accept you as the final purchaser.