Are you looking to buy a new home or find lucrative investment property in Brisbane? Before you buy property Brisbane, you first need a good understanding of the local economy and housing market. One of the best ways to do this is to find a reputable, seasoned property buyer’s agent. Here are a few expert tips on how to find the right property buyer’s agent in Brisbane.
Assess Your Budget and Affordability
Local and national property market observers say that a perfect storm of positive growth will have the city’s housing prices performing strongly in 2021 and 2022. With the recent announcement that the city has won the 2032 Olympic Games, the infrastructure, economic, and population growth will likely continue over the next decade.
But before you buy property Brisbane, consider your search criteria and evaluate your options. Find out what you can afford, taking into account potential extra or hidden costs. Find out how much you can borrow too. When looking at properties, get an estimate of what the add-on costs will be. These costs can include stamp duty on the loan, stamp duty on the property, moving costs, building and pest inspections, utility installations, and more.
Get a Feel of the Area
The next step when you want to buy property Brisbane is to do in-depth research on the areas of the city where you want to live or invest. Attend open houses and auctions so that you can get a feel of the property prices.
Drive around the suburbs too, and, if possible get, local insights by talking to the locals who live there. Once you’ve initially checked out a couple of homes that you like, confirm which fittings or fixtures are included in the sale. Double-check this with the property owner and the buyer’s agent so that both parties understand the agreement.
Make an Offer and a Contract
When you buy property Brisbane, the next step is to make an offer on the property. Generally, the buyer’s agent will ask you for a written offer before taking it to the owner. Once an agreement has been made between you and the owner, you’ll need to give the real estate agent deposit within seven days.
Next, you will need to complete a Disclose to Buyer and Contract of Sale, listing the fixtures and any special conditions. These conditions can include subject to finance, subject to building and pest inspection, and more.
As soon as your contract has been accepted and dated, you will need to apply for a loan. You also need to order a building and pest inspection and find a conveyancer to handle all the paperwork and government requirements.
You should also arrange or organize the insurance for your new home. After getting insurance, your conveyancer will complete the transfer documents and pay the stamp duty transfer to your solicitor. Your solicitor will then submit it to the proper authorities.
Your conveyancer and the bank then handle the settlement. The balance of the payment is handed over on the settlement date that is nominated on the Contract of Sale. The property must also be handed over in the same condition as it was on the inspection day.
Once the settlement is done, you will now be able to pick up the keys to your new home, move in, and celebrate!