Choosing your team

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Who are the different parties involved in purchasing property?

Purchasing a property is a thrilling yet nerve-wracking experience, which is why it can be handy to surround yourself with a network of support and expertise. Here are the different parties who may be involved in your home buying process and how you can use this valuable knowledge base to answer your questions.

Real Estate Agent

Unless you’re working with a private vendor, meeting a real estate agent is inevitable when it comes to purchasing a property. Hired by the vendor, or seller, their role is to market and communicate about the property, advise on preparing it for sale and negotiate with potential buyers.

Insurance Companies

Risk management is vital in such a high-value purchase and long-term financial commitment. Insurance, including mortgage protection and property insurance, will help you avoid being hit with a major financial burden should anything not go according to plan. The bspoke finance team can recommend an insurance broker if you don’t already have one.

Lawyer or Conveyancer

The legal aspect of a property purchase is taken care of by a licensed and qualified conveyancer. If they are a solicitor, they can also provide legal advice. Their role is to prepare all of the documents to ensure that transfer of ownership of the property has met the legal requirements in your state or territory.

Valuer

Knowing the value of a property is a vital factor in a loan application, so a valuer can play a huge role in the home buying process. A lender will often engage an impartial valuer to ensure that the buyer and the lender will know what loan amount may be warranted. The value is based on the property and location, as well as the current market.

Pest and Building Inspectors

Without the services of pest and building inspectors, a homebuyer’s worst nightmare – finding out the property they have bought requires costly renovations or pest treatment – may come true. Organising a pre-purchase inspection is essential. If the property requires structural or repair work, these inspections can stop you from making a costly mistake or, if the property is still your dream home but just needs a little work, can provide a valuable bargaining chip.

Lenders

If you need money to make your purchase, you will need a lender, whether it’s a major bank, a second-tier or non-major, or a specialist lender for more difficult funding proposals.

Finance Broker

Brokers act as a liaison between you and the lender. It’s our job to ask the right questions, so we can understand your financial situation and your property goals, and search for and negotiate a loan product that matches your needs. Not only will we do the legwork and ensure your loan is processed as smoothly as possible, but we are here to guide you through the entire process.

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Kristin Harris
Kristin Harris
22:36 10 Feb 21
Ryan made my refinance a breeze. He kept me completely up to date every step of the way. He was extremely responsive and very diligent. Ryan has great knowledge about all mortgage needs and I would highly recommend Ryan... for any mortgage or refinance needs.read more
Rabie Abou Fakher
Rabie Abou Fakher
09:16 07 Feb 21
If you are looking for an honest down to earth broker then you have found the one. Ryan has assisted us through our home loan application for the best part of 10 months. Ryan has explained things in an easy to... understand language, prompt reply to communication, genuine cares about his clients and most important of all caters to your individual needs. Finally thank you again for helping us and I will certainly deal with you again for future loans.read more
Elizabeth Lewis
Elizabeth Lewis
08:20 27 Jan 21
Ryan has been an excellent broker during the purchase of my first home. Always available for advice when needed, great and fast communication. His liaison between the bank and myself has been great. Thanks for all the... help Ryan.read more
John Luka
John Luka
06:11 14 Jan 21
Ryan His the best ever the best word to describe him when he do his job he do for him self not for the client he working hard he tried to make clients happy specially family like my family he did big miracle for us... after many broker advised we can’t get the home loan only Ryan he did for us I recommend him for every oneread more
Tony Bejjani
Tony Bejjani
05:46 14 Jan 21
Ive dealt with several brokers and never imagined an experience so pleasant and stress free . We got a fleet for our business with beyond exceptional service and superb rates . Ryan was the most knowledgeable person i... have dealt with and i cant recommend the team at Bspoke finance enough. We just moved into our dream home thanks to his amazing work . Thank-you from both tony and beam . Your magicread more
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