We scored some handy advice about the process from the team at Our Lawyers in Mittagong
If only purchasing a property was as simple as putting in an offer, getting a loan and bam! magically owning a property [and probably owing the bank a lot of money]. Sadly, there are a few more steps involved when purchasing a property and some especially important things to keep in mind.
We got some helpful advice about conveyancing from the friendly team at Our Lawyers in Mittagong. Our Lawyers have been servicing the Southern Highlands for over 20 years, they have a wealth of knowledge and experience in a wide range of conveyancing transactions.
Their conveyancing team made up of Yasmin Hill, Kirby Mills [Licensed Conveyancers] and Katarina Weston [Solicitor] have over 30 years of combined experience, so keep reading to discover some important things you should consider when purchasing a property.
1 :: Finance
Get your finances in place early! Having pre-approval in place before you start house hunting will give you a clear understanding of your budget and won’t leave room for any “what ifs” when it comes to putting in an offer.
It is also important to remember that there are some sneaky additional costs on top of the purchase price, including transfer duty which is a tax imposed on purchasers – if only the government would let you purchase a property without sharing some funds with them! It is also important to budget for other additional expenses such as council rates and moving expenses. Another important point is to Assess factors like interest rates, loan terms, and your ability to sustain mortgage payments over time.
2 :: Pest and building inspections
We strongly recommend and encourage purchasers to obtain a pest and building inspection when purchasing property. It is our job to ensure that the property has no adverse issues, and it is your job to be informed and happy with the condition and state of repair of the property.
Once contracts are exchanged, you cannot change your mind when you have found out you have some extra termite residents!
3 :: Remain patient and flexible
Purchasing a property can take time, so try and be patient. Sometimes things might not quite go as planned and delays can occur due to various factors. Staying organised and flexible will contribute to a less stressful and more rewarding experience when purchasing a property.
4 :: Personal needs and preferences
Ultimately, consider your personal needs, preferences, and long-term goals when purchasing a property. Think about factors such as the size of the property, layout, amenities, and how well it meets your lifestyle requirements.
If you can carefully consider these important factors, you can make a well-informed decision and find a property that meets your needs, fits your budget, and offers long-term value and satisfaction.
5 :: Engage a reliable Licensed Conveyancer or Property Solicitor
We specialise in property law and have extensive knowledge of the legal requirements and procedures involved in property transactions. Our expertise ensures that all legal aspects of the transaction are handled correctly and efficiently, reducing the risk of costly mistakes or legal complications.
If you are not sure, ask! Don’t hesitate to ask questions if something isn’t clear. Whilst we understand the legal jargon, you are not expected to! It is our job to navigate the legal complexities of purchasing a property to ensure your confidence and peace of mind.
Purchasing a property requires thorough consideration and planning. By following these detailed, yet simple tips and working closely with professionals, you can navigate the process with confidence. This should help you to achieve your dream of homeownership. Remember to stay informed, be patient, and always prioritise protecting your interests throughout the journey.
Thanks, peeps! So if you’re considering purchasing a property and are looking for an excellent team of specialists to help you get the ball rolling, reach out to the conveyancing team at Our Lawyers. Yasmin Hill, Kirby Mills and Katarina Weston will make sure everything is handled professionally and with plenty of support. You can pop into their office in Mittagong or give them a buzz at (02) 4872 4004.
A Leading Law Firm in the Southern Highlands
At Our Lawyers, our experienced legal team offers a friendly and personalised service to all of our clients, with every effort taken to ensure that we deliver results in all areas of the law. We understand the important of individual attention, and so we are here to work with you every step of the way to ensure that your legal requirements are met. We strive to provide an approachable, client-centered, and successful service so that you can feel confident that you are receiving the best possible legal advice.
Our expertise covers a wide range of areas, including but not limited to family law, conveyancing, commercial law, wills and estates, and property law.
Our team of experienced lawyers will guide you through the legal process, ensuring you have the information necessary to make informed decisions. Our Lawyers have provided quality legal services to clients in the Southern Highlands for over 20 years. We are approachable, modern, and efficient.
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