FHB - Inspection and Buying process?

Discussion in 'The Buying & Selling Process' started by GiantMoustache, 22nd Jul, 2020.

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  1. GiantMoustache

    GiantMoustache Member

    Joined:
    14th Jul, 2020
    Posts:
    7
    Location:
    Australia
    Hi PropertyChat guru's!

    Looking for advice and experiences on the inspection/buying process and the must-know's for first home buyers. Lots of information overload on the internet (sometimes contradicting) and hoping you all can tailor something a little closer to my circumstances.

    I Intend on purchasing either a newly built apartment (ready to move into) or new-ish (<5 years old). Pre-approval is being lodged with a broker and my budget is 650-700k. I'll be privately inspecting a place tomorrow to start and get a bit of experience with agent rapport. Also plan on attending some open's when possible.

    1. When we inspect places - what should you be looking for? Should we be getting building/pest inspections (if I like the place) to do any kind of error work, even in a new apartment building? Is there anything specific I should be asking during the inspection?

    2. Does the inspection/negotiation process with an agent change between an apartment with no prior ownership and one has already had an owner?

    3. The agent asked "what price range we're working with?". I politely kept the answer vague without any numbers involved, as I've read this can spoil negotiating power. Was this the correct move? Are there any other things I should be wary of?

    4. What is the process for purchasing an apartment after I've secured a pre-approval and found something I like?

    Thank you all in advance.
     
  2. GiantMoustache

    GiantMoustache Member

    Joined:
    14th Jul, 2020
    Posts:
    7
    Location:
    Australia
    4. What is the process for purchasing an apartment after I've secured a pre-approval and found something I like?

    I've stumbled across this which answers my own question :D - Buying a House in NSW: A How to Guide
     
  3. fols

    fols Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    737
    Location:
    Sydney
    Have you considered using a Buyers Agent?
     

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