Get A Head Start On Your Competition

Cara Lane |
March 4, 2023

Finance Approval

If you are out shopping for a new property and will require finance, we strongly recommend you have your finance pre- approved with your lender and you know how much you can borrow.  The smaller the timeframe for finance approval the more competitive your offer will be.  Keep in mind if your offer is accepted, the property will effectively be off the market with the vendor unsure if your finance will be approved.  We recommend you talk to a good finance broker early and lock in your approval  to purchase.   You may be surprised on the options they can present!

What About My Current Home

If you own another property, it’s important to know its value. Whether you are planning on selling it in the future or considering using some of the equity in it to purchase your new property.  Your finance broker or bank will be able to organise a formal valuation for borrowing purposes.  It’s also a great idea to get advice on the current value of your property and insight to the local market.  Our team are happy to provide this service if required.

Do I Need Legal Advice

Good advice is invaluable.  We recommend you talk to a solicitor or conveyancer who has experience in property conveyancing and if possible knowledge of the local market. They will be able to cut through “the legal stuff” and ensure that the details of your offer are suitable to your current circumstance and simplify the whole process.

While contracts are a fairly standard document that has been approved by the Queensland Law Society and the REIQ (REal Estate Institute of Queensland), it is important that you understand the clauses and conditions.

The Finer Details

Our agency can provide copies of Body Corporate information (if applicable), rates, water and purchase contract before you inspect so just ask for a copy when you make your enquiry.

Don’t Be Shy

A property on the market can sell at any time. Don’t simply plan to attend a future open home and expect the property will still be available. It is standard industry practice that a property will not be advertised as “under offer” until the offer is actually unconditional.

If possible we recommend you make contact with the listing agent prior to inspecting and even more importantly, if you have previously inspected the property and are considering making an offer, contact the agent so they know you are interested. A good agent will then keep you posted on any other interest in the property.

Buddy Up

Align yourself with a few agents that can keep you updated on the local market. Our team of agents are experienced, know the local area back to front and are happy to assist you in purchasing a property (even if it is not listed with our company). We love our area and are happy to share our knowledge and insights. So keep in touch.

Do Your Research

Simply looking at a property online will not give you the same insight to the property as walking through and inspecting it first hand. Online images will highlight the key selling features of the home but you may not get an indication of the aspect, dimensions, quality of fittings, general maintenance, your neighbours and the street. 

One of the best ways to see a lot of properties is to plan your day around the open homes in the area.  Work out in advance what properties you want to view and don’t simply be led by the directional signs you see on the day.  Most agencies in the local area run open homes on Saturdays for approx 30 minutes.  A handy hint is to remember to wear slip on shoes (if you need to remove them) and plan out your day in advance to ensure you make the most of your time.

Get On Line

Carry out research through the various online property portals to get an understanding of what properties are available for sale and what properties have recently sold.

What’s Nearby

An area of research that is often overlooked by buyers is the benefits and lifestyle amenities on offer from each specific location. Many buyers focus too much on the actual property itself and underestimate the importance of the location they choose to buy. Take into consideration what activities you like doing and rate each property on how well it fulfills that need.

For example, if you like to walk, what are the nearby walking tracks, parks and how far to the beach. Do you like grabbing a coffee out to start your morning.  Do you prefer the sun first thing in the morning or in the afternoon. Is there somewhere to entertain or simply relax and enjoy a view. How private are you living spaces and bedrooms. Is their traffic noise that will impact on your enjoyment of the property.