Buying Real Estate with Real Alliance
Understanding the Property Buying Process
A new home isn’t just about walls and a roof; it’s a fresh start and a new lifestyle for you and your family. Whether you’re a first-time buyer or a seasoned investor, understanding the real estate process is key to making informed decisions. We’ve helped hundreds of buyers navigate the property market—here’s what you need to know:
Review contracts with a lawyer or conveyancer
Attend auctions or negotiate private sales
Sign documents and pay the deposit
Finalize pre-settlement inspections
Complete the real estate settlement
Celebrate your new home!
Investing in Real Estate: Maximize Your Property’s Value
Positive vs. Negative Cash Flow Properties:
Positive Cash Flow Property
Rent income exceeds ownership costs, providing steady returns.
Negative Cash Flow Property
Expenses exceed rental income, but investors may benefit from tax deductions and long-term capital growth.
Property Market Cycles: Why They Matter
Choosing the Right Location & Investment Strategy
Key Neighbourhood Features:
- Access to public transport, parks, and schools
- Upcoming infrastructure projects or urban redevelopment
- Safe neighbourhoods with low crime rates
- Proximity to cafes, shopping, and lifestyle amenities
- High rental demand and low vacancy rates
Factors to Consider When Buying:
- Familiarity with the area’s demographics and growth potential
- Low-maintenance properties to minimize ongoing expenses
- Future development plans that could impact property values
- Expected rental returns and capital growth projections
- Strata title implications and associated fees
With us, property appraisals are easy to get
You get a free, no-obligation appraisal with one of our friendly, highly experienced real estate agents, so you can see the full value of selling your property with @realty.
Contact your local Real Alliance sales agent
Real estate is all that your neighbourhood Real Alliance Real Estate personalised sales agent does. They are knowledgeable with homes that are currently on, off, and coming onto the market and can give insights into the local market circumstances and buyer activity.
Where to find market data for Real Estate
You can get detailed information on the real estate market on Australian real estate websites by doing a self-research. You may gain a better understanding of neighbourhoods that are poised for growth by studying these studies that discuss supply and demand in certain locations.
Check latest sales information
Speak with a Real Alliance sales agent in your area. Real estate portals also offer a thorough listing of houses that are available for purchase as well as previous sales information. Additionally, they feature robust search capabilities that let you browse the whole market from the comfort of your couch.
The Costs of Buying a Property
Common Costs to Consider:
- Stamp duty (varies by state)
- Legal and conveyancing fees
- Loan establishment and mortgage insurance costs
- Building and pest inspections
- Council rates and strata fees
- Moving expenses
Finding & Securing the Right Property
How to Conduct Property Research:
- Attend open houses to get a feel for the market
- Speak with real estate agents to gain insights
- Use online property portals for market comparisons
- Inspect properties multiple times before making a decision
Key Questions to Ask Your Agent:
- How long has the property been on the market?
- Why is the owner selling?
- Have any recent renovations been made?
- Are there any zoning changes or restrictions?
- What are the estimated council rates and strata fees?
Buying Options: Auction, Private Sale & Expressions of Interest
Auction:
- No waiting period—immediate sale outcome
- Transparent pricing based on competitive bidding
- Requires upfront financial preparation
Private Sale:
- Allows for negotiation with the seller
- Buyers may include conditions (e.g., finance approval, inspections)
- Cooling-off period in most cases
Expression of Interest (EOI):
- Buyers submit their best offer by a set deadline
- The seller reviews all offers before making a decision
- Used for high-value or unique properties
Settlement & Final Steps
Sales Agreement
Legal contract outlining terms of sale
Settlement Planning
Typically takes 6 weeks for buyers to arrange finances
Pre-Settlement Inspection
Ensure the property is in agreed condition
Transfer of Ownership
Legal documentation is completed
1. House-hunting
As you are about to check out properties:
- Maintain a positive outlook because it’s an exciting time.
- Create a list of your desired properties
- Choose the suburbs that you prefer
- Make sure you can afford a property in the suburbs you’ve picked
- Attend many open houses to get a thorough sense of the market
2. Conducting research before purchasing a home
3. Make sure you ask these questions from your sales agent
- How long has the house been for sale?
- Why are the owners putting the house up for sale?
- Have the owners recently made any renovations?
- Are the sellers open to bargaining?
- Could you possibly offer a list of recent similar sales?
- How much do council rates cost?
- Does the property have any restrictions?
- Do they know of any upcoming zoning changes?
- Do they accept bids prior to the auction?
- Have any offers been made, and if so, how much?
Additionally, it is crucial that you schedule a professional pest and building inspection as well as a strata report since they reveal problems that are invisible to the human eye. While no property is perfect, being aware of any significant flaws will help you make more informed purchasing decisions.
There are a few options for purchasing your ideal house or an investment property, and we’ve highlighted the top three below for you to think about.
Auction
- There is no waiting period, so you obtain a quick result.
- The cost is compared to those paid by other public purchasers.
- Subject to any reserve price, the highest bidder is the winning party.
Private Sale / Treaty
In Australia, this is the most typical method of property purchase. Although the house has a defined asking price, the actual selling price usually differs from the asking price.
- You may have more time to make a decision, therefore there is less emotion than an auction
- Greater flexibility for negotiation. A contract can be signed subject to certain conditions being met, such as a building inspection, finance approval, repairs to the property etc.
- In most cases, you have a cooling-off period in case your circumstances change
- You do not have to pay for any report until you have signed an agreement to buy the property
- There is more certainty regarding the price than at auction
Tender or Expression of Interest
- By the competitive nature of the offers, reveals the actual worth of the property.
- The deadline instils a sense of urgency.
- The sale’s private nature makes it possible to keep the selling price under wraps.
- Purchasers may covertly submit offers
The settlement of property
Sales agreement
A contract of sale is necessary since purchasing real estate is a legal transaction, protecting both the buyer and the seller. This document includes all pertinent information pertaining to the sale of the property. Subject to any cooling-off time and other conditions, the buyer and seller are obligated to comply with the contract once they have both signed it and exchanged it between them.
Making plans for settlement
The period of time between the Contract of Sale’s execution and settlement day can vary according to the nature of the deal and the property. The average duration, however, is often six weeks, and this period of time gives the purchasers enough time to arrange their money and/or the sellers of the property enough time to fulfil any particular requirements that were mentioned in the contract of sale.
Pre-settlement inspection
The prospective buyer will get a chance to examine the home as settlement day draws near. If you are buying a property and follow this step, you can ensure that nothing suspicious has occurred since you have signed the contract with the seller. It also enables the buyer to verify that any outstanding tasks specified in the contract have been accomplished. And our real estate agent will help you in this process.
Finalising transfer document
The settlement team will check that all contract requirements have been met on settlement day. The sales agent will transfer the deposit that has been kept in trust after receiving authorisation from the buyer’s lender to pay the remaining balance of the purchase money. The legal counsel for the sale will check if all the required bills and dues are paid. The transfer documentation will be completed and sent to the land registration office and if all goes according to plan, the new owner will take the legal ownership of the property.
The settlement of property
Knowing your expenditures is crucial when setting a budget to purchase a new home or piece of land. To prevent financial misunderstanding, including these expenses into the cost of the home you want to buy when creating your budget.
Conveyancing and legal fees
Purchasing a house is a legal procedure, therefore it’s crucial to have professionals guide you through the process. They will examine the agreement, discuss amendments, and set up the formal transfer of ownership.
Inspections before purchase
Before you sign the contract, it is strongly advised that you get the property inspected for both building issues and insect problems. It’s crucial to be aware of any structural problems or pests. Get a strata report as well if you are purchasing an apartment.
Stamp duty
It is highly recommended you get both building and pest inspections on the property before you sign the contract. Ensuring you are aware of any structural issues or infestations is important. If you are buying an apartment, you should also get a strata report.
Moving charges
You will need to budget for the price of hiring professional movers to assist you, unless you have a few friends who are ready to offer a hand on moving day. You may either go with the full-service option and have them assist you with packing and unpacking in addition to hiring a truck and movers.
Heard of first home owner grants?
- An Australian citizen or permanent resident who has never received the grant previously
- Who is purchasing a new or existing house on their own.
- You intend to use the home as your primary residence.
- You submit your grant application within a year after buying your first home.
Want to know more?
Once you have made the decision to buy a new home, knowing how to research the market and what to look for in a neighbourhood are key.
Know more about home buying process
You can get to know in-depth tips from our sales team on how to look for, locate, and negotiate or bid successfully on a property. This guide is your go-to source for efficiently buying a home.
First selling, then buying
Knowing how much your present property is really worth and how to increase its worth can help you understand how much you can afford to spend on your future home.
Start your property search
There is a house for every lifestyle among the many properties we have up for sale. You can talk to one of our agents to get help finding the right property for you to call home.
Our checklists for open for inspection
Simply cross out the various aspects as you walk around the house to gain a full understanding of whether or not this is the right property for you. Never show up unprepared for a house inspection.
