Chapman Glenbrook Marketing Guide

S TA RT I N G YO U R NEW ADVENTURE WITH CHAPMAN.

H E R E ’ S W H AT TO EXPECT ON YOUR PURCHASING J O U R N E Y. Buying your first (or 50th) house is both an exciting and nerve-wracking experience. There are many factors and requirements to consider before jumping in. With over 35 years experience helping nervous buyers become happy home owners, Chapman is your ideal partner to help you navigate the complicated process, as smoothly as possible. To give you a head start, here is a rundown of the various selling methods and processes you may encounter on your journey, Our agents are there to hold your hand the whole way, and answer all your questions. Don’t worry, we’ve heard them all before! This information is to be taken as a guide and should not be solely relied upon as all circumstances are different, you should always contact your legal or financial professional for advice relating to a purchase or sale.

THE PURCHASING JOURNEY P R I VAT E T R E AT Y Offers are negotiated in private, you won’t know other people’s offers and they will not know yours. Once a price is agreed between parties generally a contract is signed by both and a 0.25% deposit is paid by the purchaser to secure the property. Then contracts are officially ‘conditionally exchanged’ with a five-day cooling-off period. The purchaser is the only one who can rescind the contract in the five days, however they lose the 0.25% deposit to compensate the owner for the time the property was off the market. AUCTION This is where potential buyers gather in public to bid for the property. All offers are public and known to the other bidders. You must register to bid and be totally ready to buy. This means completing all searches, discussions with your legal representative, finance approved and the deposit ready to pay on the day. There is no cooling off period, so if successful at auction, you are locked in. The property can sell prior to the auction under the same conditions.

THE PURCHASING JOURNEY FINAL OFFERS You may find the home you have fallen in love with is very popular and the owner receives multiple offers, meaning the property is now “contested”. At Chapman we believe the fairest way to handle this is not to play your offer against other buyers, it’s old-fashioned and encourages what’s known as gazumping. Plus legislation states that offers can’t be disclosed under Private Treaty. We use a more open and fair-to-all approach. We give every person one last chance to make a final offer by a certain time – no other offers are submitted after this deadline. Within minutes of that deadline ending you will know if you are successful or not. No gazumping, no mucking around or favouring of a particular buyer or agent. Once the purchaser is successful, they are expected to transfer the deposit and sign into the cooling-off period. Things to consider in final offers: • Most importantly, don’t go above your means. Make sure you stick to your pre-approval limit. • Take advice from your agent. They want you to get your dream home just as much as you do. • Don’t make offers you can’t proceed with. • Be ready to secure the property promptly. If successful, you will need to sign the contract and pay the 0.25% deposit as soon as possible.

THE PURCHASING JOURNEY COOLING-OFF PERIOD Once successful you will be asked to sign a contract to secure the purchase. This requires a 0.25% deposit and allows a five-day cooling-off period. However, this can be extended to ten days on negotiation, which is common due to bank delays. During the cooling-off period you should: • Arrange and complete any inspections. The two main ones are pest and building, and valuation. • Secure “unconditional finance approval”. • Discuss with your legal representative. • Arrange the balance of the required deposit – usually remaining 10%. This should be transferred the day before to make sure it’s in the Trust Account on the day the cooling-off period expires. AFTER THE COOLING-OFF PERIOD EXPIRES Congratulations! You’re almost there. Once you have unconditionally exchanged contracts you can get packing and organising your new home. Here’s a checklist to get you started: • Boxes and removalist • Power, Internet and gas connection • Home insurance (a priority) Then, the day prior or as close as possible to settlement, you should consider completing a pre-settlement inspection. OFFER ACCEPTED YOU ARE HERE SETTLEMENT UNCONDITIONAL EXCHANGE CONDITIONAL EXCHANGE COOLING-OFF 5 - 1 0 D AYS 4 2 D AYS

THE PURCHASING JOURNEY W H AT I S A PRE-SETTLEMENT INSPECTION? This is where you book with the agent to view (inspect) the property one last time before settlement takes place. It’s about a 10-15 minute visit to check items like, but not limited to, the following: • If any unwanted rubbish remains. • Vendors are, if not already moved out, well on their way to being gone. • No items which are noted in the contract as ‘inclusions’ are missing. • The property is in a similar state of repair and cleanliness to when you were shown it for sale, including lawns, etc. After the inspection, if you are happy, inform your legal representative that you are fine for the settlement to go ahead. If you find anything that you are unhappy with, inform the agent and your legal representative immediately and take photos. W H AT I S SETTLEMENT? This is the day you become the owner of the property. The banks and legal representatives set the dates and times and will keep you updated. The bank or legal representative will attend to the transfer of funds. After this it is the legal representative of each side who then notifies the agent and you that settlement has taken place. The agent cannot legally release monies or keys until both sides have notified them unless something else has been arranged prior.

THE PURCHASING JOURNEY BEGIN YOUR NEW PROPERTY ADVENTURE! The process of purchasing your new home is just the beginning, so our involvement does not stop there! We want to ensure the transition into your new home is as painless as the purchasing journey, so our agents are on hand to assist in any way they can. From helping you with hooking up your services to reccomending a favourite coffee shop, feel free to get in touch and hit us up.

GLENBROOK HAZELBROOK 02 4739 4311 02 4758 8603 29 Park St, Glenbrook 3/195 Great Western Hwy, Hazelbrook BLAXLAND LEURA 02 4739 6200 02 4784 3555 144 Great Western Hwy, Blaxland 5/201 The Mall, Leura SPRINGWOOD K AT O O M B A 02 4751 8266 02 4782 5045 127 Macquarie Rd, Springwood 118 Katoomba St, Katoomba WINMALEE 02 4754 1111 Shop 1, 383 Hawkesbury Rd, Winmalee c h a p m a n r e a l e s t a t e. c o m . a u