Choosing a property to purchase is an important decision that should be thoroughly researched to ensure that you make the most informed decision.

Below are some tips relating to various stages in the purchase process:

  • Speak with your bank or your home loan consultant to discuss the best loan to suit your needs and arrange pre-approval of finance for maximum understanding of your borrowing capacity, stamp duty payable and costs to service any loan amount. Useful links: Australian Mortgage Award winners 2014 and NSW Office of State Revenue Stamp Duty calculator (Lane & Place cannot guarantee accuracy or relevance of this information to your personal circumstances. Some first home buyers may qualify for a concession. Please make independent investigation into the costs that apply subject to the location of the property you wish to purchase and your personal circumstances). 
  • Prepare a short list of geographical areas that suit your lifestyle. After you have narrowed down the location, consider your budget and accommodation requirements then create a shortlist of property features in order of priority. In addition to block size, number of bedrooms and bathrooms consider proximity to facilities (such as schools and shops), ability to add value through renovation, privacy and aspect.
  • Research recent sales in your preferred area. Feel free to contact Lane & Place for a report of recent sales in St Ives and surrounds. You can also use recent sales published on and for your research purposes. Attend auctions in the area and compare the properties currently on the market.
  • When you find a property that suits your requirements, ask the agent to send a copy of the sale contract to you to forward to your solicitor or conveyancer. Need a solicitor or conveyancer? Contact us for some local options.
  • Arrange for thorough inspections by building and pest inspectors. Need a recommendation for a building or pest inspection? Ask us.
  • Keen to renovate or rebuild? Understanding the NSW planning and approval pathways including exempt and complying developments as well as those that require council approval will help you in your property purchase decision. Useful NSW information can be found here. Contact us for recommendations for local planning consultants or certifiers.
  • After you have received legal advice on the sale contract and you have reviewed the building and pest reports, you may choose to submit an offer on the property through your agent.
  • Private treaty: Once negotiations are complete and you have agreement on the purchase price and conditions, you will be required to sign the sale contract and arrange payment of the deposit. Your deposit will be placed in a trust account until final settlement. The vendor will sign their sale contract and the solicitor or conveyancer/agent will exchange the contracts.
  • Purchasing at auction: If you are planning to attend an auction, we recommend you read the Office of Fair Trading’s “Bidder’s Guide” before you attend the auction. You can find a copy of the Bidders Guide here.
  • The time between exchange of contracts and settlement is usually six to eight weeks. While the vendor is under no obligation to allow access, apart from a pre-settlement inspection, your agent should be able to arrange reasonable additional access on request to enable your architect, builder, interior designer, landscape designer to measure up and prepare quotes etc. Need some suggestions for local experts? Feel free to reach out to us.
  • On settlement day, your solicitor or conveyancer may request that you have a pre-settlement inspection before settlement is finalised. This is to ensure that the property is in the same condition as when you last inspected it, that all the inclusions are per the contract and that the property has been left unoccupied and free of personal belongings etc.
  • Remember to arrange home and contents insurance to ensure that you have suitable cover right from settlement.

The Lane & Place team are here to support you through the process. If you have any questions or concerns, please speak with one of our agents for some friendly advice and/or referral to local experts.