?? Thinking of buying a home? Read this first.

Most buyers rush in and sign—only to regret it later. Here’s how to avoid the biggest mistakes and secure your dream home the right way.

The real estate agent is pushing for a quick deal, the pressure is mounting, and you’re already picturing your life in your new home. But smart buyers take a moment to step back and get the legal side locked down first.

Here’s how to secure your dream home the right way. ??

Understanding the Real Estate Game

First things first: let's talk about real estate agents. They're not the villains in this story, but it's crucial to understand their role. Agents work for the seller (or as we lawyers call them, the vendor). While they should balance everyone's interests, their primary goal is to close the sale. It's just business, nothing personal.

When an agent tells you there's another higher offer, but they'll push for yours if you act quickly, take a deep breath. This is a common tactic to create urgency.

Here’s what to do instead:

1. Tell the agent you need your lawyer to review the contract. Hand over your lawyer's details and ask for the contract to be sent their way.
2. If it's an apartment (strata building), get a strata inspection report.
3. For a house, organise a building inspection report.
4. Double-check your finance approval and make sure you have enough for the purchase price, stamp duty, and any adjustments.

Don't know how to arrange these reports? No worries - that's what your lawyer is there for. And remember, if the agent says there's no time for all this, keep calm. The next property might be even better!

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Mastering Contract Negotiations

Alright, you've made it this far. Now what? One word: NEGOTIATE.

Almost everything in a contract is up for discussion.

Here are some of the things you can ask for:

• Inclusions and exclusions: Want that fancy fridge? Ask for it. Hate the curtains? Ask to have them removed. For properties with built-in systems (sound, home automation, pool), make sure everything's included - right down to the usernames and passwords.
• Settlement time: The standard is 42 days, but you can ask for more or less time. Just remember, banks move at their own pace.
• Deposit amount: While 10% is standard, 5% is common too. In some cases, you might even agree on a token amount.
• Repairs: If something's broken, ask for it to be fixed before settlement.

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Pro Tips to Remember:

1. Document everything: Take a video during your inspection. It could be a lifesaver if there's a dispute later.
2. Get your finances sorted: Make sure your finance is rock-solid before exchange. Banks can be fickle, and you don't want to risk your deposit.
3. Negotiate like a pro: You want to buy, they want to sell. Don't be afraid to ask for what you need and want.

At &Legal, we're here to guide you through each step, ensuring you're making smart, informed decisions. Remember, buying property should be exciting, not overwhelming. With the right approach and support, you'll be holding those new keys before you know it!

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