Patience and persistence: Step-by-step guide to buying your first property
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Patience and persistence: Step-by-step guide to buying your first property
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About this listen
In this episode of the First Property Buyer Show, host Emilie Lauer sits down with real estate agent Paul Davis from First National Real Estate Daystar to dissect each step of buying a property while clarifying inspection processes and real estate jargon.
The duo starts exploring potential buyers’ journey, with Paul highlighting the importance of securing pre-approval first to ensure buyers know their budget and are financially ready.
Paul warns against revealing budgets to agents, which may weaken negotiation power.
During property inspections, buyers should carefully check the building’s condition and obtain pest and building reports. For strata properties, understanding the strata report and consulting a solicitor is crucial to avoid hidden costs.
The next step of making an offer involves submitting a formal, written bid, typically including a small deposit and a cooling-off period.
Finally, settlement marks the official transfer of ownership, concluding a journey that requires education, patience, and professional guidance
Paul encourages patience, noting that missing out on properties is common, but persistence pays off.