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If you are looking to buy in the near future, have
a look through our selection of information on making the buying
process easier.
Simply click any of the below links to learn more
about purchasing property and what pitfalls to watch out for. Make your
selection below:
 Arrange
a pre approval through your mortgage broker before you find a property
to purchase. You will be able to find out exactly how much you can
borrow, allowing you to set a suitable limit. Your broker can also
advise you how much your new home loan will cost you on a weekly /
monthly basis (helping you to budget). By organising your finances you
will be well positioned to commit to a purchase, either by bidding at
an auction or negotiating a private sale.
Have your solicitor
review the contract prior to
signing. This is particularly important when special conditions apply.
Most solicitors will do this as part of their professional service.
When you have found
the ‘right property’ and are
ready to enter into a contract to purchase, insert into the contract
appropriate ‘subject to’ clauses. Ensure time frames for these clauses
are realistic, ie. a minimum 14 days for finance approval (even if you
have pre approval), building and pest inspections, and at least a
further 14 - 21 days after this till settlement. Remember Public
Holidays will impact on the available time.
If you are
purchasing using existing property
equity, your broker should have advised you that the mortgage provider
may not require a valuation to be done (on the purchase property). You
may wish to instruct a valuer of your choice to ensure you have
negotiated a fair market price (at your cost).
Insurance cover is
the responsibility of the
purchaser from the time the contract comes into force. This is very
important. The mortgagee’s interest may need to be noted on the
insurance cover note, confirm these details with your mortgage broker.
Make certain all
‘subject to’ clauses are met to
your satisfaction. Your mortgage broker will advise you and your
solicitor of the finance approval. Once your solicitor advises the
sellers solicitor that all clauses have been met satisfactorily, then
the contract is unconditional (almost time to open the Champagne).
Keep in contact with
your solicitor, make certain
all is in order at least 5 working days before settlement is due. Do
not assume that all is ok if you haven’t heard anything – it can be a
very costly error if the settlement has to be postponed.
When all is said and
done….. it often isn’t. Make
sure your bank account details are up to date. Ensure that any new
arrangements are in place and working in readiness for the first
repayment to take place.
Now is the time for
the Champagne……..Enjoy your
new home!!
With so many lender's out there,
where do you
start? There is a multitude of options available to you, whether you
are a first home buyer, looking to re-finance, self employed or looking
for an investment loan, there will be a loan tailored to your needs.
But where...
At Bank Of Queensland, you are
guaranteed a Loans
Manager who will take care of you for the life of your loan!
Personalised service, so you
will feel like a
valued client and not just another number in the system. As your needs
change, you will have that familiar contact to advise you of which
direction is best suited to you and your lifestyle.
For excellent service from a
true proffessional in
the industry, Call Daryl Hermann on 07 3263 5190
 Welcome to
the Remax Ultimate/ Bank of
Queensland First Time Home Buyers Guide! You will find ideas and advice
if you are planning to buy your first home.
We hope you find this
information informative and
useful when looking for the dream home!
The key things you
need to look at are:
First, you need to
know your budget. Bank of Queensland - Daryl
Hermann (Bank Manager) 07 3263 5190 will calculate how much you can
borrow, depending on your income, type of property you wish to
purchase, etc
Remember - Stamp
Duty, conveyancing fees, bank
costs, insurance and moving fees will all add to the cost of your
purchase. It's better to overestimate these costs than be caught short.
Home Loans are
available to individuals, joint
borrowers, companies and trusts. A basic, no frills will suit some,
while others might want additional features. The variable rate might be
lower than the fixed rate, but will it stay that way? If you are
looking for an investment property, a tax efficient loan structure will
be more important. Make sure you thoroughly review all your loan
options before choosing one.
Before your loan
can be assessed, you'll need to
complete an application form and provide some of the following items;
If you are
purchasing your first home you could be
eligible for the Federal Governments First Home Owners Grant. The Grant
is not means-tested, so you can apply regardless of your income. You
will need to be:
Check out www.firsthome.gov.au
for a full
eligibility checklist.
Houses, townhouses, flats and units all qualify
for the Grant.
You must apply within 12 months of settlement on
an established home or 12 months of your home being built. You must
also move into the home within 12 months.
To receive the Grant you will need a signed and
dated contract of sale and a fully executed transfer of land document,
or, if you are building, a signed and dated building contract and
certificate of occupancy.
To get the latest
information on whats been selling in your area, please select one of
our Market Reports below:
Burpengary
Morayfield
Narangba
Caboolture
How to present your home for sale and get more money (flashbook version)
101 Tips
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