Now the scary part. Yes, it’s a lot of cash. But, you’ve found the one! There’s paperwork involved in making an offer, so chat to a solicitor and/or settlement agent to get things moving. Generally, you sign a contract ‘subject to finance’ and property inspections and specific timings. It sounds obvious, but always read the small print before you sign anything and check if there’s a ‘cooling off’ period (never in WA). Your settlement agent or solicitor will help you understand what building inspections you should carry out. Sometimes you won’t be allowed to carry out inspections until after the auction.
The contract will include details like the offer price, a proposed settlement date and anything to be included in the sale of the property – for example furniture or other additions are sometimes included. It will also stipulate the dates that things will happen such as finance, inspections and everything the seller needs to do.
If you’re buying off the plan or at auction you may have to pay a percentage upfront.