So you’ve decided to get out of the rental market and purchase your first home, The best place to start is to talk to your bank or your preferred lending authority to work out exactly what budget you have to work with, and to speed up the purchase process later we recommend getting pre-approved for a mortgage, Rimac recommends Priority Home Loans Tamworth as your first point of call, they will work on your behalf to find the best loan package on offer that suits your particular circumstances.
After you have found a property in your budget that you would like to purchase, it is time to negotiate an offer with the agent or selling authority who is working on behalf of the vendor/seller. This offer should always be made subject to finance and of course building and pest inspections.
That’s where Rimac comes in giving you a detailed property inspection report outlining the condition of the property and the presence of any timber pest and/or damage. In the event that a substantial defect/problem or timber pest activity or damage is found, you are within your legal right to withdraw your offer completely or re-negotiate a lower offer, in this circumstance it is adviseable to contact a professional with experience in the area of the defect/damage who can give you an indication of the expected cost of repairs.
If after the inspection is carried out and the finance is approved you choose to move forward with the purchase the next step is to enlist the services of a solicitor or conveyancer to carry out the conveyancing and exchange the contracts on your behalf, Rimac recommends Leyden Legal or easy conveyancing(please note the buyer and the vendor cannot use the same solicitor/ legal representative as this is a conflict of interest).
From this point it is as simple as staying in contact with your mortgage provider & conveyancer/solicitor & wating for the settlement period to elapse, the standard settlement period is 6 weeks however a shorter or longer settlement may be negotiated if both parties agree.
Priority Home loans
214 Marius street Tamworth 6766 9727
Leyden legal
15 Bourke Street Tamworth 6766 4617