Buying

At Longreach Real Estate, we believe that both your heart and your head should play a part in finding a home.

We will find you a property that not only tugs the heart strings, but also makes good investment sense.

Where to start: Discuss with Howard your thoughts and aspirations for your ideal property, who will assess your needs and interests, make some recommendations if required and present options for you to consider.

We will give you up to date market related information on what is going on with the market place at this point in time allowing you to make an educated estimation about the home you wish to purchase.

When you do find your new home/investment property, you can relax as we can then help you to prepare your offer to purchase and assist you with the document procedures that follow to ensure a smooth process.

Arranging finance for your new property: You will need to be 18 years or older, with an income sufficient to meet the loan repayments.
For a home loan the maximum term of the loan is 25 years. For a residential land loan the maximum term is 29 years. The home buying process is made much easier if you are pre-approved (your mortgage provider has approved you for a specified loan amount subject to certain conditions) or pre-qualified (your income, employment history and available deposit meet the necessary qualifications). This will ensure that you are a qualified buyer.

Repayment of the loan can be made on a weekly, fortnightly or monthly basis. The more often repayments are made the sooner the loan will be repaid, as interest costs are reduced.

The lender will hold the title deeds and the mortgage until the loan is paid out. Stamp duty on the home loan is paid by the buyer- the % scale will vary according to the amount of the sale price and wether or not the buyer intends to live in the home or has bought the property as an investment. The buyer should contact their solicitor to find out how much the stamp duty is.
When the buyers and sellers solicitors notify the real estate agent that settlement has taken place, the agent can then hand the keys of the house to the buyer.

At Longreach Real Estate we work towards a successful and happy outcome for both the buyer and the seller. Fair treatment of both parties is ensured by Government Acts and Regulations, and we are also bound by moral and ethical guidelines as set down by the Real Estate Institution of Queensland.

Buying Advice

Buying a residential property in Longreach.

When you purchase a residential property it will probably be the biggest investment that you have ever committed to. You should consider all aspects of the property before you make a final decision.

Consider your particular needs according to your lifestyle, family dynamics, proximity to work, schools and amenities and the design of the house.
Don’t be put off by bad weather when inspecting a property as it is a good opportunity to check for leaks or poor drainage.

Set an affordable budget and keep to it. Seek advice from financial institutions or finance brokers who offer pre-approved loans – you will then know what you can afford when you begin your search for your home.
It is a sound idea to shop around for the most attractive and appropriate finance deal.

You will need additional funds to pay for legal fees, including mortgage insurance (if required) and mortgage documentation, security deposits, connection for electricity and telephone, valuation fees, building and pest inspection and removal costs.

Research the current market value of the properties in your chosen area. Seek the advice of your chosen reputable real estate agent regarding recent property sales.

Only deal with a fully licensed agent who will have a copy of the license displayed in the office. Dealing with an unlicensed person or buying privately lowers your level of consumer protection and recourse to compensation.

Never, never buy property unseen, ideally, inspect the property yourself or have a trusted person inspect on your behalf.

A real estate agent by law must endeavour to achieve the best price and terms for the owner of the property. If you wish you can appoint a buyers agent to represent your interests when negotiating a sale.

Ask the agent if there are any encumbrances relating to the property. Check that decks, garage, sheds or pool complies with local council regulations or building standards.

When signing the contract of sale be aware of the Warning Statement PAMD 30C. Appoint your own solicitor, valuer, finance agent, building and pest inspector. All negotiations should be on the Contract. If you are making an offer subject to certain conditions i.e. Sale of your property or finance, you may like to discuss it with your solicitor. Do not be pushed into signing a contract until you understand it fully as once it has been signed by the seller and you (the buyer) it becomes binding.

The five day “cooling off” period allows you to change your mind about buying the property and you will be refunded your deposit less an amount up to 0.25% of the purchase price of the property.

Before signing the Contract make sure all items included in the sale are included in the Contract.

Ensure all alterations made to the contract during negotiations are initialled by all parties and all special conditions can be fulfilled within a reasonable period of time.

It is important to remember that from 5pm on the next working day after signing the Contract the buyer carries the risk of the property, so you must ensure that you take out an appropriate cover note to legally protect you if the property is damaged, destroyed or someone suffers an injury.

Longreach Real Estate: “The Difference is our Experience”