Buying Your Home

When you find the home you like at a price that you are able to afford, the next step is to make an offer to Purchase. Your Sales Consultant will prepare this key document with you – making sure it covers all the details that are important to you.

A Conditional vs an Unconditional Offer
What's the difference? An unconditional offer means the buyer is not placing any special conditions on the purchase. The seller has only to accept the offer for the property to be sold.
A conditional offer means that you have placed one or more special conditions on the purchase, such as 'subject to finance' or 'subject to your home selling'. The sale is not completed until these special conditions have been satisfied within the stated time period. In some cases a conditional offer will be rejected. For example, if the vendor does not wish to wait the extra time for the condition to be filled and another offer is received by the vendor.

Below are the five major elements of an offer:

Price

The price you offer may be different from the seller's asking price. This will depend on your opinion of the value of the property and how it suits your needs.

Deposit

The deposit shows your intent or good faith and will be applied against the purchase price once the sale is unconditional. Your Sales Consultant can provide guidance on a suitable amount for a deposit - 10 percent is usually acceptable. The deposit is normally refundable if the sale does not become unconditional. However, once the agreement is unconditional, the deposit is non-refundable.

Conditions

These are requirements that must be met before the sale becomes unconditional. Conditions are always subject to a stated time and commonly include:

- 'subject to you selling your home';
- 'subject to you obtaining finance'; or
- 'subject to completion of certain work on the home'.

Your Sales Consultant will explain all the details relating to these conditions.

Chattels

Chattels are the items the seller will leave in the home and can include fixed floor coverings, blinds, curtains, dishwashers, stoves and television aerials. It is generally assumed that fixed chattels such as carpet, light fittings, a stove, a washing facility (usually a tub), and any appliances directly wired to the house, for example a waste master, ventilation system etc, are always included. However, other chattels that aren't fixed may be removed. Your Sales Consultant will know what these items are and will make sure you are fully aware of them.

Settlement & Possession Day

Generally, this is the day that the balance of the purchase price is paid to the vendor and yes, you finally receive the keys to your new home.