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Buying Tips

• 1. Talk with your financier or your Challenge Mercantile Finance consultant to arrange the best loan to suit your needs.
• 2. Prepare a short list of preferred locations that will suit your particular lifestyle, affordability and accommodation requirements.
• 3. Research sales in those preferred areas using local papers, the internet etc so that you have a feel for the price ranges. Attend all auctions in the area.
• 4. Develop a relationship with a Challenge Mercantile Sales Consultant specialising in your preferred area. The Agent will be able to offer additional advice and also alert you to new listings before they get advertised.
• 5. When you find a property that suits your requirements, ask your sales consultant to send a copy of the Sale of Contract to your solicitor or conveyancer.
• 6. We recommend that you arrange a building and pest inspection to make you aware of any major defects and pest concerns ie: white ants and termites.
• 7. Following your solicitors or conveyancer’s advice on the sale contract and taking into consideration the building and pest reports, you are now able to make an informed decision to proceed with an offer on the property through the Agent.
• 8. If you are bidding at an auction, we recommend you read the Office of Fair Trading’s Bidders Guide before you attend the Auction.
• 9. Once negotiations have been finalised, you will be required to sign the sale contract and pay a 10% deposit. Your deposit will be held in a Trust Account and may be invested subject to authority from the vendor and the purchaser.
• 10. On settlement day, your solicitor or conveyancer may request that you have a pre-settlement inspection before settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it and that all inclusions are as per the contract you signed.