The Queensland housing market is experiencing an early boom for 2021 with the number of properties sold far outpacing the listing of new real estate for sale. Brisbane boasts excellent affordability for size in comparison to any other Australian capital and the trend of buyers purchasing from interstate is likely to continue for the rest of the year. In a competitive market the fast signing and settlement of a property purchase is often appealing to buyers who don’t want to miss out on getting their share of the market. However it is essential to ensure you are aware of all the important legal aspects of buying a house before you make that first offer or sign your new contract.
Consult our highly experienced and dedicated legal team today to help you perform due diligence on all your property purchases before you sign and we’ll take you through each conveyancing step confident and informed before your contract settles.
1. Schedule an Inspection
Before making an offer on a property it is necessary to check the condition of the property and take into consideration any possible repairs or serious pest and termite problems. Before it’s too late to negotiate the price (or you are left with any hefty fees after moving in) we strongly recommend to include a conditional building and pest inspection before settlement. The River City Conveyancing team will help you know your options should you have any problems that arise from the results.
2. Prepare your Finance ASAP
Save yourself the frustration of having your contract terminated at the last minute due to failed finance approval by making sure you have your deposit ready and any potential loan approved by your bank as soon as possible. If your finances are in order and you feel confident when making an offer you will be that much more likely to be accepted by the seller over other buyer competition.
3. Know your Conditions
There are many aspects to the process of conveyancing that you will need to navigate before the settlement is finalised. River City Conveyancing can help you understand and put into writing before your initial offer any necessary legal clauses to protect you from possible financial risks. For example you may need to consider the amount of the deposit and due date or the date of final property possession if there are tenants, there may often be a requirement for special conditions involving the sale of your own property or the length of the contract terms.
This conveyancing checklist is just an initial outline to help you understand some of the important points to consider before you sign but is in no way a comprehensive list. If you have any questions or are about to buy house and land in Queensland contact River City Conveyancing on 07 3013 2300 for the original trusted local conveyancing expertise.