Buyer Expectations
What a Buyer Should Do Before Thinking Of Buying
Pre-Approval & Financial Preparation
Expect to:
- Organise home loan pre-approval before house hunting
- Understand borrowing capacity, deposit requirements, and hidden costs
(stamp duty, legal fees, inspections)
Be prepared to show proof of funds when making an offer
Property Search & Inspections
- Expect a process that may take weeks or months, depending on your criteria
- Attend open homes or book private inspections
Evaluate properties based on:
- Price vs value
- Location & lifestyle
- Condition & renovation potential
- Rental return (if investing)
Due Diligence & Questions
Ask for:
- Sale contract and vendor statement (Section 32 in VIC)
- Council zoning, building permits, and recent renovations
Expect to:
- Order building & pest inspections (for houses)
- Conduct strata reports (for apartments)
Making an Offer or Attending Auction
- Offers can be:
Conditional (e.g., subject to finance, inspection)
Unconditional (common in auctions)
Expect to: - Negotiate price and terms via the agent
- Pay an initial holding deposit if your offer is accepted
Contract Signing & Cooling-Off Period
Once an offer is accepted:
- Sign the contract of sale
- Understand your rights to a cooling-off period (varies by state)
- Pay the full deposit (often 10%) into a trust account
Finalising Finance & Settlement Prep
Expect to:
- Complete formal loan approval (if not already unconditional)
- Work with a conveyancer or solicitor for legal checks and paperwork
Organise:
- Building insurance (may be required before settlement)
- Utility connections for move-in day
Final Inspection
- Usually 1–2 days before settlement
Expect to check:
- Property is in the same condition as at purchase
- Fixtures and fittings are present
- Repairs (if any) have been completed
Settlement Day
- Legal representatives transfer funds and ownership
Expect to: - Receive the keys and title
- Move in or lease the property (if investing)
- The property is now officially yours!
What a Seller Should Expect in a Real Estate Transaction
Initial Consultation & Appraisal
Expect the agent to:
Provide a realistic market appraisal
Explain their sales strategy and marketing plan
Outline fees, commissions, and agency terms
Sellers should be prepared to discuss their timeline, goals, and any special conditions.
Agency Agreement & Marketing Preparation
The seller signs a listing agreement outlining:
- Commission structure
- Duration of agreement
- Estimated sale price range
Expect to invest in marketing costs (unless bundled).
The agent may suggest:
- Repairs or improvements
- Staging the property
- Professional photos, floorplans, and video tours
Marketing Campaign Launch
Property is listed online and across agreed marketing channels.
Expect:
- Open homes and private inspections
- Regular updates from the agent about enquiries, feedback, and buyer interest
Receiving & Negotiating Offers
Expect a range of offers—some below asking price.
The agent will present all offers and help negotiate:
- Price
- Settlement period
- Conditions (e.g., finance, building inspection)
- Sellers should be ready to counteroffer or walk away if terms aren’t acceptable.
Signing the Contract of Sale
Once a suitable offer is accepted, both parties sign a contract of sale.
Expect:
- The buyer to pay a deposit (often 5–10%)
- A possible cooling-off period (varies by state)
- Legal or conveyancing support to finalise documents
Buyer’s Due Diligence & Subject-to Conditions
If the offer is conditional, the buyer may:
Organise a building/pest inspection
Finalise finance approval
Expect your agent to manage timelines and keep you updated.
Settlement Preparation
Once all conditions are satisfied, the contract becomes unconditional.
Expect to:
- Vacate by the agreed settlement date
- Allow a final inspection by the buyer (usually 1–2 days prior)
- Organise utilities disconnection and property handover.
Settlement & Commission Payment
On settlement day:
- Legal reps exchange funds and title
- The buyer officially takes ownership
- Your agent receives their commission from the proceeds
- You receive the remaining balance.
contact
Ready to Take Control of Your Future?
Join Care Direct Marketing today and start building a business that fits your lifestyle — with full training, support, and unlimited growth potential.
