For any expat, it is logical to say that you expect a smoother process of obtaining a house in Australia as compared to other states. In this case, there are approaches that you can consider and be sure to avoid any mistakes. For those in need to discover more about how to acquire properties abroad, continue reading here for more info.
Initially, consider your financial plan for the undertaking. When on this move, there is a need for you to consider gathering more info on the matter, choose and then finally decide on how much you will be spending on this line. When you have already located the property that you intend to buy in this line, there is a need for you to consider engaging a real estate agent as they can advise you on the pricing. Checking on this feature is highly advisable as the not a single lending institution is willing to lend you money.
Secondly, building your expert team is commendable. As an expat, there are no chances that you will buy property on your own. The first professional you need to hire in this line is a professional dealing in legal matters. The the second team member that you need to hire is a broker in this line. Finally, consider engaging an accountant who will be beneficial in helping you manage your financial statements.
Importantly, get a pre-approved loan. Before you start looking for property consider getting a loan pre-approved by this company. With this loan, there is a promise that you will get a mortgage easily.
Consider getting approval from the Foreign Investment Review Board. If you are a non-resident or your visa is temporary, there is a need for you to consider getting a certification in this line. Since there are fees that apply when obtaining approval in this line, checking on the FIRB schedule is advisable.
Search for the propertys prices and negotiate such. This is the next consideration when your application by the FIRB has been approved. When it comes to the pricing for houses for sale in most parts of Australia, most of the sellers increase the price with 10%. On the other hand, there is a need to say that the value of the property may vary and you need to carefully choose.
In conclusion, it is advisable for you to exchange contract and pay the down payment. Depending on the owner of the property, there is a need to say that you are expected to pay a 10% amount. However, always negotiate the amount that you pay for the property.