When Should I Organise Finance?
When first deciding to purchase your new home or investment property, a consultation with your bank manager and/or account should be at the top of your list of things to do. You can then set your budget accordingly and move forward to pre-approval of your home loan.
What Is A Deposit Bond?
A deposit bond is a guarentee that while the deposit is not paid at the exchange of contracts it will be paid on completion of the sale. If the purchaser is in default the underwriter guarentees payment. A deposit bond is usually used when the purcaser is selling and all proceeds are coming from their sale or the purchaser is borrowing 100% of the purchase price or for some other reason the buyer does not have a cash deposit. Your lender or conveyancer may be able to issue the deposit bond for you.
When Should I Get My Pest And Building Reports Done?
Pest and Building reports are recommended to be carried out after you have seen the property and have made the all-important decision that this is the property you wish to purchase.
What If I am buying Auction?
You will need to negiate access with your agent, however pest and building reports beore an auction are always welcome.
Do I Really Need To Get P&B Reports?
Although it is recommended that you do carry out these inspection, you are under no obligation to do so. However, your finance institution or conveyancer may require the reports to be carried out before completion of the sale. You will need to make your own investigations as to what is required of you.
Please email or phone our office if you have anymore questions that may need answering. We would love to know all your questions so that we may continue to update our site and share our wealth of knowledge!