So you have decided you want to a buy a property without the use of a real estate agent, then there are a few factors you should consider.
1. Before you decide to purchase.
Purchasing property can be a complex undertaking and you should consider including in your purchase conditions a qualified valuation. Furthermore, you may wish to include a building and pest inspections as well as a finance clause if finance is required.
2. Expenditure during the process.
You should be aware that the purchaser of any property in Australia pays stamp duty on the purchase. These rates vary depending upon your state so check out the link below to a comprehensive calculator.
www.13beat.com.au/StampDuty
3. Settlement
The date for settlement generally will be agreed by both parties. The settlement will take place when the balance of the stated contract price is paid to the vendor. The buyer then receives title documentation and then can collect the keys to the property.
When one or more mortgages are involved the situation can be slightly more complex because the financial institutions will also be involved in the settlement transactions.
Do you have any further suggestions?