Buying a House

So you’re ready to buy. Perhaps this is your first purchase or perhaps you are adding a new jewel to your property crown. NP Evernest can help you with all aspects of the buying process.

How do you want to buy?

Auction

Make sure you visit the property and thoroughly review if it is right for you. The auction process is a legally binding process and, in some cases, a deposit will be required as soon as the hammer falls. The reserve price is the minimum amount the seller will accept. Don’t start the bidding below this amount.

Don’t be deterred by large crowds. Many will be there as spectators. All that matters is those registered to bid. Know your limits and prepare your budget carefully before attending the auction. Bring a support person when you can to help you with any high pressure moments that might arise. Sometimes buying at auction will yield a better result than buying privately.

Off the plan

This arrangement allows the developer to sell properties before they are built. As a result, they are able to secure capital for their construction and this is offset by offering the property at a cheaper price to buyers.

There are benefits and risks associated with buying in this way. Sometimes the final construction may be different to the original plan. Sometimes the workmanship may not be all that you hoped for.

These are worst case scenarios, of course. The best way to minimise these risks is to do plenty of research, talk to your real estate agent and ask lots of questions.

The Victoria Government offers an Off The Plan Concession to eligible buyers. You can learn more at the State Revenue Office website.

Privately

A private sale involves one party selling directly to another party. There may be a negotiation period and then a settlement period.

NP Evernest can assist with facilitating private sales. We will make sure all the right protections are put in place including a cooling off period and the necessary inspections.

Costs