1.  Meet with your local Aussie broker

It makes sense to speak with your Aussie broker before
you even start home hunting. Your Aussie broker can
clarify how much you can borrow, help you select
the loan that’s right for your needs and explain your
monthly loan repayments. This gives you a clear idea
of your home buying budget and helps to narrow down
the choice of properties you inspect.

2.  Secure loan pre-approval

Once you have decided on the loan and lender that’s
best suited to your needs, your Aussie broker will help
you complete and lodge your loan application, giving
you the benefit of loan pre-approval. This lets you
make a genuine offer when the right property turns up.

3.  Draft a ‘wish list’

With your loan pre-approved, now’s the time to get
serious about home hunting. Draw up a wish list
of ‘must-have’ features followed by nice – but not
essential factors. This will help you stay on track to
find the property that’s right for your circumstances.

4.  Research the market

Buying a home is a major purchase and the last
thing you need is to pay above market value. Before
you starting checking out Open Home inspections,
thoroughly research the local market to understand
current prices for the type of property you’re
interested in.

5.  Find the home that’s right for you

Physically inspecting properties is the best way to
know if a home is right for you. It pays to be flexible
as some locations or homes you view may offer
benefits you hadn’t considered. When you find a
property organise a pre-purchase pest and building
inspection. This will reveal any problems that could be
costly to fix.

6.  Enlist the services of a solicitor or
conveyancer

Your legal team will review the contract of sale for
any property you are considering, and handle the
settlement process. Ask friends, family or work
colleagues for a firm they recommend.

7.  Attend the auction or make an offer

You are now ready to bid at auction or make an offer.
If successful, you’ll be expected to pay a deposit - if
you’re bidding at auction there is no backing out of
the contract once the hammer falls. However if you
are buying through private treaty you may be entitled
to a cooling off period (this varies between states and
territories). As soon as you hand over a deposit you
have a financial interest in the property so be sure to
take out building insurance.

8.  Full approval and settlement

Not long now! At this stage your Aussie Broker will
forward a copy of the signed sale contract to your
lender, who will arrange a valuation of the property. If
this is satisfactory, and all other conditions of the loan
have been met, your lender will issue full approval.
From here, your Aussie broker and legal team will
work behind the scenes transferring the property into
your name and ensuring settlement takes place on the
specified day. All you need to do is start packing, pick
up the keys and begin settling in.