Our experienced lawyers can help you buy your first home so you can focus on moving in with confidence.
Buying your first home
When you’re seriously thinking about buying your first home, there’s a lot to think about. Before you sign on the dotted line it’s a good idea to speak to a conveyancer or lawyer to make sure that you know what you could ask for in the purchase contract. Some common things that you could negotiate include:
- Making the purchase subject to finance. This means that if you have difficulty getting a lender to approve a home loan you may be able to end the agreement;
- The settlement timelines. While most home purchase agreements will have a standard settlement time of 60 days, you can often negotiate this with the seller;
- How much you pay. You can negotiate the price you pay for your new home;
- The amount of your deposit. Generally, a 10% deposit is required when you sign a purchase agreement but you can negotiate this; and
- What fixtures and fittings come with the property. Things like curtains and even furniture can all be negotiated into or out of a purchase contract.
- If you’re buying your first home at auction you may not be able to negotiate any terms in the contract, so it’s worth reviewing the sale contract before you put your hand up.
Our conveyancing lawyers can help you review the contract and explain what it means to you. They can also help you negotiate any changes you want to make with the seller’s lawyers.