Deciding to buy a property is the first step of a long and often stressful journey and, for many of us, it’s one we haven’t been on before. At Conveyancing.com.au, we help people buy property and land every day, and we’re here for you too.
When you imagine buying a property, it’s easy to think about browsing real estate websites or glossy magazines until you find the right one. From there it’s just a matter of getting a loan and choosing to buy it, right? Well it’s a little more complicated than that. Most people don’t realise the process takes a minimum of 6 weeks, and as long as a few months. In that time, a lot needs to be done so it’s important to be prepared.
If that seems like a long time, just think about what’s involved with buying a car. While the exciting part is driving it away, there is also some important paperwork to fill out. Once you’ve bought the car, you still need to register it, get pink slips, buy insurance, update parking permits and so on. That’s a lot of admin. When it comes to buying a property it’s the same, but with much larger sums of money and even more paperwork.
Our team at Conveyancing.com.au has worked hard to make the conveyancing process as simple and easy as possible. We’ve put together a Property Calendar to help you prepare for your buying journey.
Property Calendar
Buyers:
Decide on budget for property
Find property
Get pre-approval for finance
Get contract review by lawyer
Engage a conveyancer
Sign contract
Arrange building and pest inspection
Apply for bank approval
Get Verification of Identity
Submit back to us along with payment for initial invoice
Wait for contract to go unconditional (which means building and pest is successful and all conditions on the special conditions part of the contract is met (usually 21 days)
Wait for settlement to occur
This article is provided for general information purposes only. Its content is current at the date of publication. It is not legal advice and is not tailored to meet your individual needs. You should obtain specialist advice based on your specific circumstances before taking any action concerning the matters discussed in this article.