Buying a home in NSW?
Our 8 Step Guide
Is the building and pest inspection satisfactory?
Are you happy with the contract and agree to all the terms and conditions?
Has your solicitor done the relevant pre-exchange checks and searches?
YES - Once your finance is unconditionally approved, you will sign and date the contract, pay the deposit (usually 10%) and exchange (this is when you are legally bound by the contract)
NO - Your solicitor can try to negotiate and have parts of the contract changed. If that doesn't work you need to decide if you really want this house or if you dhould look for another.
Waiting game - from the date of exchance to settlement usually takes about 4-6 weeks. In this time your bank will prepare finance. Your conveyancer will be doing work such as sending requisitions, ordering searches and preparing for settlement. You will be asked to sign 'PEXA' forms, provide extensive ID and complete and home buyer grant forms.
Your conveyancer will tell you when the house is due to settle and provide you with figures and 'adjustments' to be paid on settlement. You will need to agree with the figures, arrange to pay and 'shortfall' and pay Stamp Duty.
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Give us a call for all your conyeyancing matters.