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Buying

Buying With Harcourts Clayfield

Committed to your needs

Harcourts has been helping people to buy, sell and rentl property for generations.  Harcourts Clayfield are committed to helping you turn your property dreams into reality.
 
When you come to Harcourts Clayfield in search of your perfect property, your personal real estate consultant looks to establish your needs and requirements and sets about achieving them for you.  In our partnership with you throughout the process of your real estate transaction, it is our job to listen to what you want and to work with you with care and consideration.

We will guide you through the process of buying , selling  or renting, providing advice on property values and market activity, investment potential and marketing to position your property to gain the maximum exposure and reliable feed-back on all activities around your property and your neighbourhood.

This is all part of the extra-effort service provided by the team at Harcourts Clayfield.





Finding your home

The first point of contact with us will be to take the time to fully explain to your consultant what it is that you want.     We will listen carefully.    Your criteria will be cross-matched against available stock from our database and the selection of properties to view will commence.      Sometimes, the original criteria changes as the process of viewing properties produces other requirements than originally listed.  It is our commitment to you to listen and guide you, no matter how long it may take to find the perfect home.

Your wish list

What will help us in finding you the right property include:

  • Suburb/s
  • Price range
  • Number of bedrooms and bathrooms
  • Style of home and construction 
  • Proximity to childcare/primary and secondary schools
  • Land size
  • Car accommodation
  • Special requirements e.g. no stairs, air conditioning, pools
  • Public transport and/or access to freeways, airport, CBD


Your essentials

It is important that we know the absolute most important features you want in a property and will not compromise on. They may include:

  • A separate office / study
  • Air conditioning
  • Aspect and neighbourhood
  • Security
  • Garaging
  • Low maintenance grounds

These requirements are unique to each buyer. Also give some thought to features you most definitely do not want in a property.





Searching for properties

Many buyers search the internet prior to viewing properties.

You can use the Property Search function to the left of this page for a comprehensive search facility which will provide you with property details and multiple photos of each property.  

Loan Calculator

A loan calculator enables you to easily determine fortnightly or monthly repayments by entering the amount you wish to borrow, your deposit, preferred interest rate and term of the loan. Please click here to use the Mortgage Express loan repayment calculator.

Inspecting properties

Your consultant will show you those properties that best fit your requirements.  We will keep you informed of all changes relating to the properties you have viewed and you will be advised of new properties as they come on the market. Talk to us about how you want to receive new property information i.e. via email, text or phone calls and best time to make contact.

Inspections of properties take time.  We recommend you do not rush or disregard too quickly.  Try not to judge a property from the outside only.  Some properties have little or no street appeal, but have much to offer inside.  An inspection will confirm your first impression or will pleasantly surprise you.

When the right property presents itself be prepared to make an offer. We will encourage you to do so.     Sometimes a delay could result in the property being purchased by someone else and your search would have to start all over again.

Going to contract

When you are ready to submit an offer to purchase, the next step is to have a Contract drawn up with the terms and conditions that you have decided on.  Common conditions of sale are subject to finance, a building and pest inspection,deposit and settlement date that suits your requirements..   You may also wish to take your Contract to your solicitors for their perusal prior to signing.     Once the Contract is completed and signed by you, we are then able to present your offer to your seller.    Time being of an essence, this is usually done within 24 hours, so you will know the outcome as quickly as we can.  

The seller can accept your offer, reject it or counter sign it.  Counter signing usually occurs when the seller is not satisfied with the price offered and/or conditions included and subsequently alters them.  The contract will be brought back to you for your consideration.  If you accept, you initial the seller’s alteration and the property is under offer to you subject to any conditions that the contract may contain. Alternatively you also have the right to counter sign. We will continue negotiations between you and the seller until you are both in agreement or decide not to proceed with further negotations..

This process generally does not occur when buying at auction.  (See information on “Buying at Auction” below).

Buying at auction

Buying at auction avoids the often prolonged waiting of the traditional offer/counter-offer negotiation process and uncertainty of what another buyer may be offering. During an auction bids for the property are called in an open arena on a given day and time. If your bid is accepted you’ll have the satisfaction of knowing you have purchased at true market value.

The dangers of offering too low

Once they find the property they wish to purchase many buyers are tempted to “start low” with their offer.

We understand, but would not be giving you complete service if we did not warn you of what can happen.

  1. The seller could feel insulted, and become difficult to negotiate with from then on.     
  2. The seller may think you are a bargain hunter “having a go” without serious intention to buy and dismiss your offer altogether.

If you are serious about purchasing the property it is wise to make a genuine offer that reflects your serious intentions and appreciation of the true value of the seller’s home.





Common conditions of sale

Along with the standard terms of the contract both buyers and sellers are able to insert further terms and conditions of sale. When writing in any special condition the key parts are who is going to do it; what are they going to do; when are they going to do it by; what standards will apply; what happens if it is not satisfied and who can waive it.

Once an inserted condition has been satisfied notice will be provided to the other party usually by the solicitors involved.

A condition can be either satisfied or waived. If you have inserted a condition but it has not been met by the required date you can choose to waive that condition. If the condition is neither satisfied nor waived then the agreement will be terminated and any deposit paid by you shall be immediately refunded.

Some common conditions of sale are:

  • Conditional on sale of purchaser’s property
  • Conditional on sale of purchaser’s property becoming unconditional

Inserting these clauses allows you to sell your property before purchasing. Use the appropriate clause to allow you time to sell your property or for an existing contract of sale to become unconditional in all respects.

  • Conditional upon Finance
  • Conditional upon obtaining Solicitor’s Approval of the Contract
  • Conditional upon obtaining a Builder’s Report

Each of these conditions should be clearly worded and the dates for confirmation made clear.






Paying the deposit

Once all parties have signed the contract you will be asked to pay a deposit. This usually equates to 10% of the purchase price.

We can refer you to Mortgage Express who can assist you with this.

Property insurance

In Queensland you are responsible to take out an insurance cover of the property you are buying from the first business day after the contract has been signed.

Have you arranged your finance?

You don’t need to wait until you’ve found a property before you arrange finance.  It’s a good idea to find out first just how much you can borrow – that way you know what price bracket to start looking in and what level of repayments you’re comfortable with.

The problem that most people face today, however, is “which home loan is the right one for me?”  There are so many options when it comes to banks, products, rates, terms and fees.  With the purchase of such a large investment, you need to be confident that you have made the right financial choice.

A Financial Broker has the choice of many lenders and they will often get better terms than the bank will offer you direct. They also can arrange funds for your deposit once your offer is accepted.


Property purchase costs

Financial fees vary greatly, depending on such matters as what percentage of the property value that you will be borrowing, the amount of the loan, the amount of the purchase and which bank you are borrowing funds from.  Your Financial Lender can quickly ascertain approximate costs for your particular circumstances.

Possible expenses you may incur are:

  • Bank fees which may include:
  • Lender application fees, valuation fees, legal and settlement fees
  • Lender monthly account keeping fees (if applicable)
  • Lender “Professional Package” annual fees (if applicable)
  • Lender’s Mortgage Insurance (if applicable)
  • Lender retention account fees (if applicable)
  • Title transfer, Mortgage registration fees
  • Registration of mortgage discharge (refunded by seller at settlement)
  • Solicitor’s charges may include legal searches (please consult your solicitor)
  • Stamp Duty on Purchase   
  • Home protection insurance
  • Miscellaneous costs (Building / pest inspections, rates, removalists, etc.)


Completing the purchase

Before settlement your solicitor will undertake the necessary searches with respect to the property and your financier will prepare the mortgage documentation.

On settlement your solicitor will exchange with the seller's solicitor:

  • Monies
  • Transfer documentation
  • Keys to the property

Within a few days of settlement your solicitor or financier will register the necessary documentation  and mortgage transfer with the Land Titles Registry.

Possession of the property usually takes place on the settlement day although the seller and buyer can agree for these dates to be different.