Guide For Buyers

Buying Tips

  • Prepare a wish list
    Make a list of the attributes you most desire in a property, including your ‘must have’ features, such as location, number of bedrooms or parking.
  • Do your research
    Invest the time in inspecting as many properties as possible. This will give you a better understanding of the market, put you in a better position to negotiate, and help you recognise a bargain or an overpriced property. you should consider such factors as affordability, accommodation requirements and lifestyle. The Altus web-site contains suburb profiles for most areas. Simply contact Altus to find out how we can help you with these services.
  • Develop a relationship with an Altus Property Consultant specialising in your preferred area(s). The agent will be able to offer additional advice and also alert you to new listings before they reach the media. When you find a property that suits your requirements, ask your Altus Property Consultant to represent you in the transaction. Our consultants are constantly striving to improve their negotiation and contract skills. Given that you are about to make one of the biggest investments in your lifetime we recommend that you have a specialist to represent your interests.
  • Organise your finance in advance
    Loan pre-approval is a big advantage. Approach your lender or have a mortgage broker visit you to find out how much you’ll be able to borrow and what your repayments will be so you know how much you have to spend. Having your finances organised gives you more chance of securing a purchase and is an asset when negotiating with vendors. If you’re bidding at auction, make sure you have adequate funds in your cheque account to pay the deposit. Should you like us to recommend a company to perform these services we would be happy to help.
  • Altus recommends that you include a building and pest inspection as part of your Offer and Acceptance contract, particularly if you are purchasing a home that is more than a few years old. Should you like us to recommend companies to perform these services we would be happy to help.
  • Identify a Settlement Agent. A good settlement agent will prove invaluable in the sales-to-settlement process. Should you like us to recommend companies to perform these services we would be happy to help.
  • Once your offer has been accepted you will be required to forward a deposit to a designated Trust (usually the listing agent’s) account, usually within five working days of that offer. Although there is no set figure as to the amount of deposit that you should forward, a figure of 10% is common in the western suburbs.
  • In the week prior to settlement day, you will be entitled to preliminary inspection of the property that you have purchased. The purpose of this viewing is to ensure that the property is as was viewed at the time of contract and that any stipulations that you may have made as part of the contract (for example, a window repaired) have been attended to.
  • On settlement day your settlement agent will be responsible for the transfer of title from the previous owners to yourselves. For an unoccupied property keys to your new property are available immediately on settlement. For an occupied property, keys are available at 12pm on the day after settlement. Move in and enjoy your new home. You deserve to!
  • Additional expenses
    While your lender will identify upfront costs such as mortgage insurance and stamp duty, you should also be aware of other expenses which will factor into your ongoing costs. Maintenance costs, land tax, council rates, home insurance and strata fees (if applicable) should all be investigated so that you know just how much to budget for on top of your mortgage repayments.
  • Sign up to Property Alerts
    Simply enter your details and your property requirements on our property alert tab and you’ll be emailed as soon as a property meeting your criteria is listed. This helps give you a jump on the market and saves considerable time.

GUIDE TO MOVING BUYERS.pdf