Buying a new home? Here are 3 people you need on your team

There can be many people involved in the home buying process, each providing a different area of expertise that can help ensure the experience goes as smoothly as possible.

You want the right people to help you throughout and provide you with professional advice to ensure you’re following the right steps to buy your dream home.

If you’re planning to buy a house and land package in Clyde North, here are three important people to help you through the process.

Mortgage broker

Mortgage brokers are home loan specialists. They are not necessarily associated with particular lenders or products, so you can feel confident that they will be focused on finding the best home loan for you.

A mortgage broker provides expertise and knowledge that may help you save a lot of time and money, helping you find the right home loan. They can help make the experience faster and smoother. Their services are also usually free.

For first time buyers, your broker can check if you qualify for the First Home Owner Grant, and if you do, will prepare the necessary paperwork for the process.

As well as helping you find the right home loan and lender, they can liaise with all other individuals and agencies involved in the home buying process.

Building inspector

To avoid buying a new home only to discover it has a bug infestation or faulty plumbing, a building inspector is someone you should hire before signing the contract on your house.

A building inspection will cover pest inspection as well as check plumbing, drainage, condition of windows and doors, all joinery, walls, driveways, fittings and fixtures, and other structural elements of the property.

Building inspections offer numerous benefits to home buyers. They let you know in advance, any problems you’ll be facing with your property before you settle, and that information can be used to negotiate on the purchase price.

Your building inspector will give you specialist advice on any major problems that may affect the property over time, such as issues like hidden mould or condition of fittings or equipment. They will tell you if something is not functioning properly, needs to be changed or is unsafe.

Building inspections are often organised by your conveyancer or solicitor, or if you use a mortgage broker, they will liaise with your conveyancer to organise one.

The price of a home inspection will vary depending on the size of the property and the location, but as it’s such a significant financial investment, you want to ensure you buy a property that is structurally sound and will not have costly issues down the road.

Conveyancer

A conveyancer advises and provides information about the sale of the property, prepares necessary settlement documents, and conducts the overall settlement process of your house and land package in Clyde North. They will ensure your contract is fair, advise you on what to change and communicate with the property seller’s legal team.

Once the contract is signed, your conveyancer will get the property transferred to you and registered in your name. During the settlement period, they will contact relevant government authorities to apply for transfer of title and apply for any grants or concessions you may be eligible for.

They will liaise with the vendor’s legal team on your behalf, as well as notify the council and water supplier.

A conveyancer oversees the settlement on your behalf and will speak with your nominated bank to ensure the funds will be ready for settlement day.

If any issues are found during the building inspection, your conveyancer will speak to the vendor if repairs are required and need to be done before the contract is signed, or negotiate for a lower price.

Getting the right help

Getting the right professional help is crucial when buying a home, and there are numerous other experts who will help you during the process.

A real estate agent negotiates and arranges real estate sales. They can help you find a property that suits your needs, and are often aware of homes that are not yet advertised. Keep in mind that real estate agents generally work for the vendor, not the buyer, and they usually work for a commission. Make sure to ask the right questions to ensure you find a home that suits your needs and budget.

Before buying a home, you may want to work with a financial planner, to help ensure your finances are in order and that it is the right time for you to buy.

Your lender may also require the services of an appraiser. An appraiser determines if the property is worth the purchase price to ensure there isn’t a discrepancy between the cost of the home and the mortgage.

Buying a house is a complicated process, but with the right people on your team, you’ll end up with your dream home.