FAQ
FAQ
Frequently Asked Questions
Why should I buy with Parija Properties Limited?
Enlisting the help of a trusted real estate agency can help you navigate the often-tricky world of residential real estate. With offices across most of Australia’s major cities, towns and suburbs, your local Parija Properties Limited real estate agent is perfectly-placed to provide you with advice and assistance relevant to your local real estate market.
What are the steps to buy a home?
- Own a home? Get an appraisal as this is a great way to find out how much equity you already have. Your local Parija Properties Limited agent can give you a free property appraisal to help you here.
- Contact a Parija Properties Limited Home Loans specialist to discuss your home buying plans and borrowing capacity
- Create a budget and save deposit
- Choose a home loan and apply for pre-approval
- Research property market and neighbourhoods
- Finalise property must-haves
- Start house hunt
- Lawyer / conveyancer to review contract
- Get a building inspection
- Make offer or bid at auction
- Sign contract and pay deposit
- Arrange insurance
- Process First Home Owner Grant
- Complete settlement and move in
What are the different ways to buy a home?
There are 4 main ways to buy real estate in Australia:
- Private treaty – when the vendor, or home owner sets the price they would like to sell their property for and their real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.
- Auction – which is a public sale conducted by a licensed auctioneer. Properties are offered up for bid and if the reserve price is reached the property is sold to the highest bidder
- Tender and Expression of Interest are processes wherein you submit a single offer, usually accompanied by a 5 or 10 per cent deposit, and it is accepted or rejected by the vendor.
How can I work out the budget I can afford to buy a home?
Talk to the experts at LJ Hooker Home Loans, they can help assess your current earning and assets and develop a plan with you.
What is the first home buyer grant?
The First Home Owner Grant (scheme) was established to assist eligible first home owners to purchase a new home or build their home by offering a grant. The grant amount is determined by the date of the eligible transaction and each state has different rules and regulations.
What is stamp duty?
Stamp duty is a charge which is applied by state governments in Australia and is in relation to the transfer of land or property. The State Government charges may vary depending on the purpose of the property purchased.
Where do I search for properties?
Website portals such as www.parijaproperties.com is an excellent resources along with regional and local newspapers. Also contact your Local Parija Properties Limited real estate agent as they are experts in the local area and may know other properties that are up for sale
What auction terms should I know?
It is important that you understand these terms before your bid at an auction: Bidders guide, Inspection, Vendor and Dummy Bids, Rises and Advances, Reserve, On the Market and Passed In.
What are the costs of buying a property?
- Deposit – usually 5-20% of the home’s overall cost
- Stamp Duty – differs in each state
- Lenders mortgage insurance if you borrow more than 80% of the property purchase price
- Building insurance
- Legal help such as lawyers or conveyancers
- Building, pest and strata inspections
- Council rates and strata fees
- Moving costs
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