​Ready to Buy Property? Here's Your Easy Guide!

• Pre-Approval: Get pre-approved for a loan to understand your budget and strengthen your position. This doesn’t guarantee final approval but helps you act quickly on a property.

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• Property Search: Research properties and get a valuation if needed to find the right one.

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• Make an Offer: Sign a Contract of Sale with conditions, including final loan approval, building, and pest inspections.

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• Loan Valuation: Your lender will value the property. If the valuation is unsatisfactory, final loan approval may be denied.

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• Appoint a Conveyancer: Hire a conveyancer or solicitor to handle legal aspects and inspections.

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• Deposit Payment: Pay the deposit from savings or a deposit bond, not from your loan.

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• Cooling Off Period: Use the cooling off period, if available, to reconsider the purchase with a potential penalty.

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• Final Approval and Settlement: After meeting all conditions and a satisfactory valuation, your lender will approve the loan. On settlement day, the conveyancer ensures all payments are made, and you take ownership of the property.

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• Unconditional Contracts: Avoid signing unconditional contracts or bidding at auctions without confirmed finance. Seek legal advice if unsure.