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Guest caoimhe

How to Buy

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    Guest caoimhe

    Can anyone tell me about the process of buying a house in Australia.

    I know a lot go to auction and I know how this works but for those houses that don't how does it work?

    Is it the same as UK, where you put forward an offer and it is up to the vendor to accept or not or do they go for sealed bids.

    Also is it Sold subject to contract and surveys and can anyone put in a higher offer after agreed. Any info would help

    thanks

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    Guest Guest75
    Can anyone tell me about the process of buying a house in Australia.

    I know a lot go to auction and I know how this works but for those houses that don't how does it work?

    Is it the same as UK, where you put forward an offer and it is up to the vendor to accept or not or do they go for sealed bids.

    Also is it Sold subject to contract and surveys and can anyone put in a higher offer after agreed. Any info would help

    thanks

     

    Buying here is very straightforward if a little fast and scary.

     

    You put an offer to the agent who then consults the vendor.

    If accepted you will be asked to sign a contract virtually on the day!

     

    Basic searches come with the property as the agent should have done them.

     

    You have a few days cooling off (2?) and then you HAVE to follow through on the contract unless finance or survey fails.

    As you have entered into a contract no further offers can be taken:)

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    Guest caoimhe

    Thanks for the reply

    Think I like that way of doing it although you are right about being a little scary

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    Guest salisbury massive

    If you have nothing to sell and the finance (assuming you need it) arranged, you have much better bargaining power. Often a vendor wil sell at a cheaper price because you can move quickly rather than take a higher offer from someone who still needs to sell.

     

    When we came over we had a list of 10 houses from realestate.com that we wanted to look at. We looked at the first house on the day we landed and used that as a benchmark against the rest. From putting in the offer to moving in took 3 weeks. You don't need a solicitor here, a conveyencer will do and you can use the same conveyencer as the vendor - some people don't recommend it but we did and it was fine. We then sold that house after 18 months and bought a new one, again we offered and moved in around 4 weeks.

     

    The cooling off period is 48 hours as Tyke says BUT if you sign after 5pm on a Thursday you get until Monday because it has to be 2 working days, so technically you get 4 days to think about it.

     

    i find the whole system here very quick and easy.

     

    Jo

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