In this Australian Property Podcast episode Pete Wargent and Amy Lunardi deliver their step by step guide to buying property.
Topics covered today:
This episode covers the step by step process AFTER you’ve gone through the finance process, which we covered a few episodes ago with Owen & Chris, however some of these steps can be done before you get your finance sorted
Research – last week's episode covers this but is an essential step which a lot of people skim over, especially home buyers. Do recommend doing this before you get pre-approval, never too early, but regardless of when you do it the key things you’re ideally wanting to understand are:What’s happening in the market – broader and locally, why? Prices influence how quickly you have to move on offers, factoring into your appraisal & budget. Supply & scarcity Research to create your PROPERTY BRIEF: your shopping list / workout plan -> ESSENTIAL STEP to moving forwardEducate yourselfLearning about the fundamentals of property: settlement, conditional offers, building inspections, state specific rulesAttending inspections & auctions, familiarising yourself with properties, meeting agents, starting to understand the lingoSpending more time exploring the neighbourhoodsPotentially refining/changing your briefSearch phase: once pre-approved and emotionally ready, actively searchingBe proactive with online searchesOff markets & agent communicationPrioritising Saturdays and seeing properties asapDue diligence: once you’ve found a suitable property / green lightFree and straight away: appraisal, local area check, council call, planning checks, landchecker, body corporate/owners corporation, old photos, agent info/notes, inclusions, speak to brokerContract review- when and whyBuilding inspection & any other trade quotes – when and whyImportant to still keep searching throughout for backup plans. Sometimes 2 options need to strategise re timingMaking an offer OR bidding at auctionMaking an offer: how? Ask agent their process and timeframes. Conditional versus unconditional, price versus terms. DepositAuctions and buying priorPost sale – documentation, finalise loan, final inspection, insurances, utilities
Rask Resources
Pete's Buyers Agency: https://www.allenwargent.com.au
Alcove mortgage broking: https://www.raskmedia.com.au/services/mortgage-broking
Amy Lunardi Buyers Agency (Melbourne) www.amylunardi.com.au
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Financial Planning: https://bit.ly/R-plan
Invest with us: https://bit.ly/R-invest
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Ask a question: https://bit.ly/R-quest
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
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