Seeking the advice of a qualified mortgage broker before anything else can help you save a lot of time. It will also provide you with valuable information before you make any decision to purchase or build a new home.
“Buying your first home can be quite overwhelming so it’s vital you surround yourself with qualified and experienced professionals. Take your time and remember there is no such thing as a stupid question.” - Craig Baumanis, Director, Voyage Wealth.
Brokers act as a liaison between you and the lender and will be able to provide you with some guidance around your borrowing potential and advise how much cash you will require before completing the purchase. Brokers will go to great lengths to search for suitable loans and negotiate a loan product that matches your needs.
We recommend going through the process of a pre-approval to ensure the lender is comfortable with your application and to reduce the stress through the process. Not only will they do the legwork and ensure your loan is processed as smoothly as possible, but they are there to guide you throughout the whole process.
Real estate agent
Once you have your finance pre-approval in place it’s time to go hunting. At this point you will meet a local real estate agent, they are appointed by the seller and their role is to market the property and negotiate with potential buyers.
A valuer is generally engaged by the lender to conduct a valuation on your property to ensure that the proposed loan is within acceptable lending ratios. Establishing the value of a property is a vital factor in all loan applications so a valuer can play a huge role in the home-buying process.
A conveyancer plays a vital role in preparing documents to ensure that transfer of ownership of the property has met the legal requirements in your state or territory. Then they’ll make sure that settlement happens on time once you have received formal approval from the bank.
Pest and building inspectors
Making any contract to purchase subject to pest and building inspections is important. Having experienced pest and building inspectors on your team will help identify any problems that may require costly renovations or pest treatment in the future. Identifying these at a pre-purchase inspection is essential.
If the property requires structural, wiring or repair work, these inspections can stop you from making a costly mistake or, if the property is still your dream home but just needs a little work, can provide a valuable bargaining chip.