BUYING YOURFIRST HOME

FINANCEAPPROVAL

By speaking with an SB Lending Finance Specialist you can gain a betterunderstanding of your borrowing capacity. This will help you search the realestate market with confidence about your buying power.

LEGALS /CONVEYANCING

Deciding up front which solicitor or conveyancing firm you are going touse, will save you time when you do decide to buy a property and sign acontract.

PROTECTINGYOURLIFESTYLE

Personal Insurance is a key consideration when buying a home or makingchanges to your debt position. Knowing the types of cover available andwhat levels are needed will give you peace of mind in protecting yourfamily. Your SB Lending Finance Specialist can introduce you to a specialistto help you.

SET YOURBUDGET

Decide early in the process how much you want to spend on your home.This may be decided by the amount you are able to borrow. The SB Lendingwebsite has budgeting calculators to help you set a budget you arecomfortable with.

FIND AHOME

Do as much market research as you can about the area you are lookingto buy into. Engage a real estate agent or search online and in localnewspapers to understand market conditions and trends in your area.

SIGNING ACONTRACTExisting Dwelling

Once you have agreed to a purchase price and are ready to sign a contractto buy your home, remember to include a 14 day Finance Clause. This allowssufficient time for your loan application to be finalised and documents canbe prepared in readiness for settlement.

GOVERNMENTGRANTS

If you are eligible, we can help you with various government grantapplications including First Home Loan Deposit Scheme and QLD StampDuty Concession.

BUYING YOURFIRST HOME

SIGNING ACONTRACTAuction

If you elect to buy your home at an auction, the process is slightly different.To bid at auction you need to have formal conditional approval from your SBLending Finance Specialist before you can register to bid. At auction there isno cooling off period or finance clause included in the contract so you musthave the loan approved prior to auction.

BUILDING& PEST

After signing your contract to buy you should engage a building and pestinspector to view the property. Many inspectors are certified to completeboth building and pest inspections. NOTE – THIS MUST BE DONE PRIOR TOAUCTION DATE IF YOU DECIDE TO BID AT AN AUCTION. A building andpest inspection provides an overview of the condition of the property.

INSURANCE Once you have a fully executed contract you need to insure the property. InQLD, buyers are responsible for the insurance of a dwelling once they entera contract to acquire. This means buyers are responsible for insurance of theproperty even before the settlement occurs.

VALUATION Depending on your circumstances, a valuation inspection may need to becompleted on the property to finalise your loan application. Provide a copyof the signed contract to your SB Lending Finance Specialist and they canadvise if this is required.

FINANCEDOCUMENTS

Once your loan application is formally approved, your loan documents areprepared and sent to you for signing.

SETTLEMENT Your solicitor / conveyancing firm will liaise with the vendor’s solicitor andwill arrange settlement of your home.

THINGS TO DOBEFORE WE MOVE

HANDY LINKSSB Lendingwww.sblending.com.au

Sammut Bulow Accountantswww.sammutbulow.com.au

SB Life www.sblife.com.au

Great Start Grantwww.greatstartgrant.osr.qld.gov.au

Real Estate www.realestate.com.au

Australia Post www.auspost.com.au

� Change address with service providers or set upmail redirection for 12 months� Medical Providers, Insurance Companies, Government

Agencies, Employer, Accountant, School etc)

� Utilities (Electricity, Phone, Gas, Internet)

� Change the locks in your new home to ensure youare the only one with a key