Buyers Guide

Steps On How To Secure Your Real Estate Purchase

  • A minimum deposit of 0.25% of the purchase price is required. (e.g. $800,000 = $2000)
  • Sign purchase contract at the agreed sale price with a 5 day cooling off period and the property comes off the market
  • Once the owner signs the contract and the contracts are exchanged, the owner is bound by that contract and cannot sell to any other party
  • During this 5 day cooling off period, the buyer lodges their application for finance and instructs their solicitor to carry out any required inspections i.e. pest & building inspection, etc.
  • The cooling off period can also be extended if there is a delay with finance etc.
  • On the fifth day the balance of the 10% or 5% deposit is lodged with the agent by 5:00pm
  • If the buyer decides not to proceed during the 5 day period, they will forfeit 0.25% of the purchase price to the property owner. The property is then re-listed for sale.
  • After the 5 day period, your legal representative will arrange the contracts for settlement which should take approximately 42 days as stated on the purchase contract.

Contact detail

Mountview Real Estate
1.03/5 Celebration Dr (Alpha Building)
Bella Vista NSW 2153

Ph:02 8883 3592
Fax:02 8883 3593

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