"We call when we say we will, and we do what we say we'll do - we're up front about what we can and can't do, so we don't raise unachievable expecations."
Jacqui Bartholomeusz - Principal, Harcourts Clayfield
It is important we know the most important features you want in a property - for example:
a separate office/study
aspect and neighbourhood
low maintenance grounds
Your wish list
These are the features you are willing to negotiate - for example:
number of bedrooms and bathrooms
style of home and construction
proximity to childcare/primary and secondary schools
special requirements e.g. no stairs, air conditioning, pools
public transport and/or access to freeways, airport, CBD.
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.
Buying at auction
Buying at auction avoids the traditional offer/counter-offer negotiation process, and the 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.
Paying the deposit
Once all parties have signed the contract you will be asked to pay a deposit. This is usually 10 per cent of the purchase price.
We can refer you to Mortgage Express who can help you through the process.
In Queensland, you are required to take an insurance cover on the property you are buying from the first business day after the contract has been signed.
There are a number of options when it comes to banks, products, rates, terms and fees. A financial broker has the choice of many lenders and will often get you better terms than the bank will offer you directly.
They can arrange funds for your deposit once your offer is accepted.
Property purchase costs
Financial fees vary and will depend on the:
percentage of the property value you are borrowing
amount of the loan
amount of the purchase, and
Your financial lender can quickly calculate the approximate costs for your circumstances.
Possible expenses 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
stamp duty on purchase
home protection insurance
miscellaneous costs (building/pest inspections, rates, removalists, etc.)
Completing the purchase
Before settlement, your solicitor will make 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:
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 a different date.