Checklist to prepare before buying a home
When people wonder about the best places to settle down, NSW is always pretty high up the list. The state has tons of things going for it. It’s a melting pot of culture, food, and music. It’s got more than a few of Australia’s most iconic landmarks and beaches galore.
Wherever you go in NSW, there is something for everyone – from young up-and-coming professionals to families looking for a safe place to raise their children.
When you’re ready to relocate to NSW, a professional Sydney conveyancer can help you fast-track the process and make sure all your boxes are ticked.
Here’s a quick guide on how you can prepare yourself when you work with a Sydney conveyancing service.
The contract for sale
Check the contract for sale carefully, as anything on here is legally binding. For example, including the clause ‘subject to finance’ gives you an out and your deposit back should you not secure financing. People do lose sizeable deposits this way. Always make sure you understand everything listed on a contract. Your Sydney conveyancer can help ensure you don’t fall victim to any terms you didn’t fully understand.
Proving your identity is a critical step to finalising the purchase of a property. You will need verified copies of your driver’s license or passport along with your signed Contract and Transfer.
Perform a housing inspection
Always have a housing inspection performed on your potential new home, and include it as a condition on the contract of sale. You don’t want to be trapped into completing the purchase if necessary repairs are required on the property that could add thousands to your out-of-pocket costs. Plus, it’s always good to know that you are moving into a property you know is safe.
Mortgage documents are a legal requirement that outlines the provisions, costs of your loan, and key terms. They also let you know your rights as a borrower. They are wordy documents, so your Sydney conveyancer can help you understand anything on which you are not clear.
The first homeowners grant
The First Home Owners Grant is a $10,000 grant paid to first homeowners buying a house, apartment, unit, or similar under $600,000. If the home is to be built on a block of land already purchased, the total value of the land and house must not exceed $750,000. A Sydney conveyancing service can provide you with more details about your eligibility.
Duty and other tax
Stamp duty, the tax you pay for transferring property ownership, is a necessary evil when buying property. However, there are ways to reduce the mount, especially when buying your first home. Check with your Sydney conveyancing professional to ensure you don’t miss out on any discounts.
Purchasing property in NSW is an involved process, but a Sydney conveyancer with the experience to navigate the legalities will help you transition into your new life much faster and with less hassle. Find out more by calling today.
Need help in buying a house in NSW?
You can make the whole process go a lot smoother by working with an established Sydney conveyancing service. Platinum Conveyancing Services will always put your interests first and won’t add any hidden surprises. We know the greater Sydney area well and have been a competitive Sydney conveyancing service for thousands of property purchases across Sydney and NSW.