Find the home you want

Knowing what’s important to you in a house will make it easier to narrow down exactly what you’re looking for. Some factors to consider include:

  • Location
  • Style
  • Number of bedrooms
  • Energy efficiency

 

Finding the house you want

You can search for properties you want in the newspaper or online using websites such as realestate.com.au or domain.com.au

When viewing properties you’re interested in you may want to take along an inspection checklist and camera and make note of places you’ve visited.

Areas to take note of include:

  • Roof
  • Plumbing
  • Showers, baths and sinks
  • Windows
  • Foundation

Once you’ve found a place you’re interested in, be sure to carry out a building inspection and pest control inspection and have a solicitor look over the contract.

 

Buying at private sale or auction?

Here’s a quick snapshot of both.

 

  Auction Private Sale
Reports & inspections Reports and inspections need to be done before the auction, with no guarantee of a successful bid. If a ’cooling-off’ period applies you can use it to complete your reports and inspections and withdraw your offer if anything is wrong. A penalty may apply.
Contract terms The contract terms that apply to the offer at auction are set by the vendor. Some of the contract terms may be able to be negotiated by you.
Competition Competition from other bidders can inflate the price. The price can rise if a number of people make offers.
Price You don't know the reserve price (i.e. the minimum that the seller will accept) until it's reached. You know the asking price.
'Cooling-off' period No ‘cooling-off’ period. You can't change your mind if you win the auction. A ‘cooling-off’ period may apply depending on your state's laws.
Deposit payment If your bid is successful, you need to pay the full deposit immediately. If your offer is accepted, you need to pay the full deposit when exchanging contracts.

 

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 You should consider our Disclosure Documents. This information and advice is provided without reference to your personal circumstances so you should consider whether this product fits your objectives, financial situation and needs. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant. 

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