FAQ

When considering a residential purchase or rental, the following are important factors to consider:

1. What is the traffic likely to be during my commuting times?
2. Does my budget allow me to consider homes in this area?
3. Does the area present any special security issues I have to consider?
4. Do I have to take into consideration the location of other family members?
5. What is the distance to groceries, banks and schools?
6. Do rivers, sea blast or construction in the area present any special concerns?

1. Do I have the amount of the deposit [10%] plus approximately 4% to cover expenses i.e. valuations, stamp duty and legal fees?
2. Have I been approved for a mortgage by a lending institution such as a Bank or Life Insurance company?
3. What is the open market valuation price of the property?
4. Does this property have any features that are important to me?

You may need to do a little shopping around to know that the rate and terms you are getting are fair. In most cases your current bank should be able to guide you. Also, your Real Estate Agent would have good advice to share as they have been assisting clients for over the years.

1. The actual cost of the property
2. A 10% deposit
3. Stamp duty [use a stamp duty calculator online]
4. Attorney fees
5. Banking loan fees and Attorney fees for a mortgage
6. Insurance mortgages such as fire, mortgage indemnity or life insurance
7. The cost of a valuation of the property for stamp duty and for mortgage purposes