First Home Buyers

First Home Buyers

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Being a first time home buyer is an intimidating place to be. The only person that is on your side is your spouse (if you have one) and your Licensed Conveyancer. Therefore you should engage the professional services of the Licensed Conveyancer prior to looking at any property.

As your Licensed Conveyancer we can advise you regarding any grants you may receive in respect of the First Home Purchasers Grant offered by the New South Wales Government.

At the time of the writing of this article the First Home Owners Grant in New South Wales , if you qualify, you may be eligible for up to $7,000.00 cash grant together with an exemption from paying stamp duty in certain circumstances. There is a ceiling limit of the purchase price for you to be eligible for this grant. Again, talk to your Licnesed Conveyancer regarding the current grants and exemptions available.

The Real Estate Agent represents the seller and is legally bound to work in the best interest of their client, which is the seller and not you. This is called fiduciary responsibility. The sellers Real Estate Agent is legally obligated to put the interest of their client first and foremost.

You can engage a Buyers Agent, who is licensed through the Office of Fair Trading in New South Wales to source properties and negotiate on your behalf under your instructions.

Always remember, as a first time home buyer people may try to take advantage of you if you don't know the process. Always discuss with your Licensed Conveyancer any negotiations before you start to negotiate.

When the time comes and you are sure it is the right time to buy your first home, do not rush into it. Take time to evaluate your situation (both your needs and your financial situation) and the market.

In addition to your engaging the professional services of a Licensed Conveyancer before you start looking at properties, you may also need to engage the services of a Pest and Building Inspector and Surveyor.

You will also need to ensure that your Bank will loan you enough money to complete your purchase.

When you are talking about a commitment to a major purchase that can easily be deep in the 6 or even 7 figures and will take you 20 to 30 years to pay for, engaging the services of a Licensed Conveyancer is a good investment.


About the Author:
Judy Bliss is the Principal of Longmore & Associates http://www.longmoreassociates.com.au/ who has over 15 years expereience in conveyancing.
FOR A LIMITED TIME ONLY call (02) 44210360 or email longmoreassociates@bigpond.com to have an OBLIGATION FREE 15 minute discussion (valued at $75.00) regarding your purchase or sale.



Article Originally Published On: http://www.articlesnatch.com


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