buying tips

Buying property can be a complicated process. This step-by-step guide has been designed to walk you through the process of buying property.

set your budget

It’s crucial to know how much you can realistically afford.  To help set your budget speak to a financial advisor or make use of an on-line calculator. 


short list your requirements

Work out which locations you’ll consider, how many bedrooms you require, what other features you need & whether you are prepared to renovate. 


make contact with your mcconnellbourn property agent

Discuss your wish list & develop a relationship.  If our agents know what you are looking for we can help guide you in your search, providing you with advance notice of upcoming listings & email notifications of available properties. 


get a feel for the market

Arming yourself with as much information as possible before you buy will help you save money.  Once you have a clear idea of your budget and needs, start attending open houses & auctions of properties that meet your criteria.  This will give you a better feel for the market as you may want to revise your price limit or wish list.


ask for the contract

When you find a property you are interested in ask the agent to send a copy of the sale contract to your solicitor or conveyancer.  They will advise you of any issues you may need to consider. 


arrange a building & pest inspection

Your solicitor will normally insist on seeking a pest and building report.  This will alert you to any hidden structural problems or pest issues. 


make an offer

Once you have the solicitor’s & the inspectors’ reports you can make a confident offer to the agent.  They will then negotiate the final sale price between you & the vendor. 


buying at auction

If you intend to bid at auction you must bring appropriate identification & register as a bidder.  Someone may only bid on your behalf if they have a binding authority form signed by you.  If the property fails to reach reserve, the highest bidder normally has first right of negotiation. 


pay your deposit

Once your offer is accepted you will need to sign the sale contract & pay a deposit.  Until the property is settled the deposit will be held in trust in an interest bearing account, with the interest shared between you & the vendor. 


exchange contracts

The vendor will sign their sale contract & the solicitor/conveyancer or agent will exchange the contracts.  The final settlement of contracts generally takes around 6 weeks, however in some cases this may be negotiable. 


inspect prior to settlement

It is wise to undertake a pre-settlement inspection of the property.  This will ensure that the property is in the same condition as when you agreed to buy it and that all the inclusions meet the contract specifications. 


pick up the keys

Once notified that settlement has been finalised your agent is able to give you the keys to your new home. 


relax & enjoy!