Process to Purchasing a Property

June 03, 2014
Jenika Clifford

Step by step guide when purchasing a Property with Mortgage Choice Bundall, who will support and guide you through finding the best lender and loan to suit your needs.


8 Steps with Mortgage Choice

Step 1

Arrange a pre-approved finance to the maximum you want to borrow. You can do this before you even find a property to set your budget


Step 2

Arrange a solicitor/lawyer – Mortgage Choice Bundall has a range of partnering Solicitors who can best assist you


Step 3

Find a property and make an offer. If your offer has been accepted sign the contract and put down a deposit, usually 5% deposit of purchase price.


The contract must be subject to the following clauses:

  • Minimum 30 day settlement
  • 14-21 days finance
  • 7-10 days pest and building inspection

Note : If contract fully signed you are responsible for arranging building insurance immediately


Step 4

Your purchase contract goes “Unconditional” when you receive formal approval. This means all conditions on your contract has been met.

We send your loan approval to your solicitor.

You must now pay the remainder of the deposit on the property as per any contract terms.


Step 5

Loan offer documents will now need to be completed with your broker to check accuracy and signed by a JP.

If required, your broker will have a new bank account setup for you.


Step 6

1 week prior to settlement, any remaining funds that you are contributing are to be paid into your solicitors trust account.

Arrange your telephone and power supply


Step 7

On the day of Settlement, your solicitor will attend settlement on your behalf. Cheques will be swapped between lenders, your solicitor and vendor’s solicitor.


The purchase of your property is complete

You can now collect the keys from the agent or lawyer.


Step 8

Move into your new home, arrange mail redirection, organise contents insurance.


From pre-approval to settlement, Mortgage Choice Bundall will take the hassle out of finding the right lender, submitting your application and getting your loan approved.


With no cost to you meet with a mortgage broker today by calling Mortgage Choice in Bundall, Gold Coast on 07 5504 5569 or email


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Posted in: Home loans

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