Planning on buying that property?

[Caputo Lawyers]

Hi everyone

I have written an article on the early steps in buying property in NSW.

I have highlighted issues which through my experience are the most common mistakes people make in the early stages of buying their property.

Again today another purchaser missed out on a property because they didn't have their finance organised in time and buyer 2 came in at the last minute and exchanged before them as buyer 2 had her finance approved!

Luckily I acted for the seller so no harm to them.

I had purchaser 2 knock on my door with a signed contract, 66W and cheque.

Of course my client took purchaser 2, although the first purchaser was prepared to also exchange this afternoon.

The reason purchaser 1 missed out was that she was still waiting on finance approval which was going to be provided this afternoon. She had 1 week longer than purchaser 2 to close the deal.

Hope this helps.

Regards,
View attachment Are you looking to buy property.pdf

 

[Amadio]

Very interesting Vanessa. Sounds like things are on the boil in NSW.

Things are so sleepy here in Bris that a friend has just put an offer on a property subject to the sale of her own property. It's been accepted.

 

[twobobsworth]

I had purchaser 2 knock on my door with a signed contract, 66W and cheque.

Just wondering how many 66W certificates you come across on a regular basis and what type of property was being sold. As a buyer it would be risky to go into this without a pest/building/strata report.

 

[Caputo Lawyers]

Hi

Thanks.

Yeah property market in Sydney seems to have picked up in the last few weeks.

Hopefully it lasts...

Very interesting Vanessa. Sounds like things are on the boil in NSW.

Things are so sleepy here in Bris that a friend has just put an offer on a property subject to the sale of her own property. It's been accepted.

 

[Caputo Lawyers]

Just wondering how many 66W certificates you come across on a regular basis and what type of property was being sold. As a buyer it would be risky to go into this without a pest/building/strata report.

Yeah 66W certificates are used quite a lot if the purchaser doesn't sign with the agent on a Saturday with a cooling off. Normally by the time a 66W is given, the purchaser has had their finance arranged and reports done, changes made to the contract hence enough time.

In this case the purchaser 2 ordered a strata report the day before and got a verbal on it this morning.

The lawyer for purchaser 2 cared and got things turned around quickly. Not many people understand the importance of a good property lawyer it makes a huge difference in you securing the deal.

I opened my property law firm to do just that, as a property investor myself.

Regs