01Planning and finance for buying property
A Western Australian guide lists steps for buying property, including researching the market and budgeting for the costs of a purchase. HomeSeeker SA sets out saving a deposit and working out what a buyer can afford to borrow in South Australia.
02Documents and disclosures
The Western Australian guide describes two documents. A Certificate of Title covers mortgage details and land boundaries. A property interest report sets out legal restrictions and responsibilities, including heritage listings and zoning information.
The Western Australian guide says selling agents must tell prospective buyers anything that could influence their decision, including hazards such as asbestos or a past use as a drug laboratory.
The Western Australian guide says selling agents must tell prospective buyers anything that could influence their decision, including hazards such as asbestos or a past use as a drug laboratory.
03Agents and settlement
The Western Australian guide describes options for buying a property: buyers representing themselves, hiring a property finder or using a buyer's agent. HomeSeeker SA describes engaging a conveyancer for the legal and statutory processes that transfer ownership in South Australia, and making an offer before signing the contract of sale.
04Questions people ask
- What costs are involved in buying property?
- The Western Australian guide lists settlement and legal fees, fees to establish a loan, government charges that include transfer duty, building and pest inspections, and moving costs. HomeSeeker SA lists deposit and stamp duty, lenders mortgage insurance, and legal and conveyancing fees.
- What deposit do you need to buy a property?
- HomeSeeker SA says deposit requirements vary between lenders, and that a buyer on the open market will likely need a deposit of at least 10% unless the contract states otherwise.
- What does a buyer's agent do?
- The Western Australian guide says a buyer's agent works for the buyer and can research properties, liaise with selling agents and contractors, negotiate on the buyer's behalf, arrange inspections and monitor settlement.
- How long does it take to buy property?
- HomeSeeker SA says the purchase of an established home often takes less than three months. HomeSeeker SA says a new build can take between 8 and 12 months, depending on its size and complexity.