Buying a Property

First Home Buyers

Buying your first home is an exciting but daunting experience, and it is important to understand the process and the potential risks involved. At Biz Lawyers & Advisory, we assist first home buyers with contract review, legal due diligence, special conditions, settlement steps and practical questions that can arise before exchange or completion.

Our team of experienced property lawyers can assist you in the following ways:

  • 1.

    Providing Legal Advice: Our team can provide you with comprehensive legal advice on any questions or concerns you may have about purchasing your first home. We can guide you through the legal requirements of the sale, explain the risks and benefits of purchasing a property, and provide you with an understanding of your rights and obligations under the contract.

  • 2.

    Reviewing the Contract of Sale: The contract of sale is a critical document when purchasing a property. Our lawyers will review the contract to ensure that it is legally sound, that the terms are reasonable and appropriate, and that you understand your rights and obligations as a buyer.

In addition to our legal services, there are several specific issues that first home buyers should consider when purchasing a property. These include:

  • 1.

    Budgeting: It is important to have a clear understanding of your budget and financial situation before purchasing a property. You should factor in all associated costs, such as stamp duty, legal fees, and ongoing maintenance costs.

  • 2.

    Research: Do your research before making an offer on a property. This includes researching the local area, the property market, and any potential issues with the property.

  • 3.

    Building and Pest Inspection (when buying a house): It is important to have a building and pest inspection conducted on the property before purchasing it. This can help to identify any potential issues or defects with the property.

  • 4.

    Strata Report (when buying an apartment): NSW has more than 85,000 strata schemes, and apartment buyers should understand the scheme before committing. A strata review can raise issues about by-laws, levies, meeting notes, building defects, legal matters, title information and section 184 certificates.

  • 5.

    Off-the-plan or company title issues: First home buyers may be looking at off-the-plan apartments, strata lots or less common company title properties. We can help review the legal documents and explain transaction risks, while eligibility for grants, duty concessions, finance and tax issues should be confirmed with the relevant agency or adviser.

First home buyers may also find our Legal Guides on first-time home buyers in New South Wales and buying a strata apartment in Sydney useful before reviewing a contract.

We also assist with buying a property, buying off the plan and broader property legal support. Contact us if you would like a contract reviewed before signing.

First Home Buyers

Drop us a call for a free initial consultation today!

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