Embarking on the journey to buy a property is both exciting and significant. The process is structured to ensure that you, the buyer, are well-informed and supported throughout each stage. Here's a brief overview of what to expect:
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Financing and Pre-Approval:
Before you start house hunting, it's essential to assess your budget. Getting pre-approved for a home loan helps you understand how much you can afford and shows sellers that you're a serious buyer.
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Finding Your Dream Home:
Partner with your trusted Century 21 West Coast Property Consultants who understands your needs. We will help you navigate the property market, schedule viewings, and identify homes that match your criteria.
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Making an Offer:
Once you've found the perfect property, your Consultant will guide you through the process of making a formal offer to purchase (OTP). This document outlines the terms and conditions of your offer, including the purchase price and any contingencies.
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Securing a Home Loan:
With an accepted offer, the next step is to finalise your financing. For more information about the bond process, click here.
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Financing Options:
When making an offer to purchase, it's important to consider the various conditions that can be included, such as securing bond finance, paying in cash, or the sale of an existing property. If you're opting for bond finance, your bank or bond originator will work with you to secure the necessary home loan, based on the terms outlined in the OTP.
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Legal Processes and Transfer of Ownership:
A conveyancer (a specialised property lawyer) will handle the legal aspects of transferring the property into your name. This includes conducting property searches, preparing transfer documents, and registering the property with the Deeds Office.
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Registration of Transfer:
After the transfer of ownership is registered at the Deeds office, you become the legal owner of the property.
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Final Inspection and Handover:
After the transfer is finalised, your appointed Property Consultant will accompany you to conduct an inspection to ensure the property is in the agreed-upon condition and will handover the keys to your newly owned property.