Buying your first home is an exciting time, but it can also be confusing. Here are some of our best hints and tips for the first home buyer when it comes to conveyancing.
- How soon should I apply for finance?
Getting pre-approval for a home loan is getting harder to accomplish, so the earlier you start this process, the better. Even meeting with your bank or mortgage broker three to six months before you officially start looking for a home can be helpful.
- How much does conveyancing cost?
The costs of conveyancing will vary, depending on the number of documents that need to be prepared, and the time spent on the work by your conveyancer. Sometimes, conveyancing comes at a fixed fee but it’s important to ask what the fees are before you start. Don’t forget, the property searches done by your conveyancer come at a cost, but those searches can end up saving you a lot of money in the future.
- What can I do to help?
It will assist your conveyancer if you are ready to supply documents and paperwork as soon as possible. It’s also important for you to be easily contactable, and to ensure you organise your pest and building inspections promptly.
- What are some upfront costs I need to be aware of?
As well as your legal and conveyancing costs, it’s important to be prepared for the other costs involved in buying a house. You will need money for the deposit on the house, stamp duty, home loan application and establishment fees, pest and building inspection fees, and lenders mortgage insurance. And don’t forget, you’ll need to pay for moving fees.
- Let us review your contract before signing
The real estate agent might be putting pressure on you to sign on the dotted line, but there might be some hidden conditions or issues you’re not aware of. Get your conveyancer to review the contract first, so we can let you know about any red flags.
A home is one of the biggest purchases of your life. Getting it right is as important to us as it is to you. The property and conveyancing experts here at Bickell & Mackenzie can guide you through this process. Contact our office on: (07) 3206 8700 or email: info@bimalaw.com.au to make an appointment.
