The Buying Process

Finances

It's really important that you're aware of what you can borrow from the bank & how much of a deposit you need to buy a property, before you start your property search. Speak to us to prepare yourself for the journey ahead.

Pre-Approval

We will now arrange finance pre-approval. This is where the bank provides you with a conditional loan offer to provide peace of mind for you to start seriously looking at properties.

Find a Property

You can now start to research what you can buy within your budget in the areas you'd like to buy in. The pre-approval allows you to attend open homes & auctions, whilst being ready to place an offer/bid. You can utilise our property reports & knowledge of the market to your advantage too.

Due Diligence

Once you have found the property, it's important you do your due diligence - this includes a strata report (for a unit), a building & pest inspection (for a house) and a review of the contract by your conveyancer. You should also be advising us at this point so we can do preliminary checks on the property from a finance perspective.

Make an Offer

You can now make a formal offer to secure the property. There will generally be a negotiation with the real estate agent, depending on how much interest there is in the property. If you're buying at auction, you will need to make live bids on the spot against other potential buyers.

Exchange Contracts

Once the price is agreed upon, you will formally sign the contract of sale & pay the required deposit (rules differ depending on which state you're buying in). The seller will then counter sign, constituting an exchange of contracts.

Cooling Off Period

There is now a cooling off period or 'finance clause' meaning you have a certain amount of time to decide whether to proceed formally with the purchase. The amount of time in this period varies from state to state.

**Note, this step doesn't apply in an auction scenario.

Settlement

Settlement typically occurs six weeks after exchange of contracts. In this time period, you will liaise with your conveyancer, broker and the real estate agent to tick all the necessary boxes. At settlement, the parties exchange the title for the funds required, and the property is officially lodged for registration in your name as the new owner.

You can then collect the keys!

The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

There may be occasions where you may be charged a fee by your broker.

Your broker is able to assess each lender's approval times and identify those that can provide approval quickly, however this is subject to change and can vary significantly based on how complex is your loan application and how quickly you’re able to provide the information we need.

Not all lenders are available to all brokers. The exact details of the lenders your broker has access to is disclosed within the Credit Guide your broker gives to you when providing credit assistance or is available upon request.

The way in which your broker will stay in touch with you will differ, however typically this will be via email. In addition you will be able to contact them for guidance as required. You are able to opt out of these communications at any stage.