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Now that you have pre-approved/conditionally approved you are now free to search for properties in the budget you are approved for. The lenders approval lasts for 90 days from date of issue. If this expires you will need to be reassessed and provide updated financial supporting documents such as payslips and bank statements. By reading this article, it may assist you in finding the right property for you!

Where do I start?

In this day and age, real estate websites such as and domain seem to be the most popular way of finding properties on the market. Another option is to contact a real estate agent in the area directly to shortlist you on any properties that they may have currently on the market or properties that may be coming soon on the market that meet your specific criteria.

Finding the “diamond in the rough”

Whether you are buying property by yourself or with a partner, it can sometimes be tricky to find a property that “ticks all the boxes” or that you both agree on if there are budget restraints. The keyword here, if you do not want to wait longer to save for a more expensive property that “ticks all the boxes”, is to compromise. Your partner may want a sewing room and you may want a media room. Sometimes it is better to compromise and meet in the middle rather than draw out the process and miss out on the properties you like.

What do I bring to property inspections?

Once you find a few properties that you like, feel free to contact the agent to organize a private inspection or attend one of the pre-organised inspections. You do not want to shortlist too many properties as it can become overwhelming and near impossible to choose. Although when inspecting property keep an eye out for general wear and tear, things that can be fixed such as cracked tiles or unmaintained gardens and items of concern such as water damage and termite damage. But also keep in mind the potential a property possesses by overlooking the superficial things like paint colour, wallpaper etc. These things can be easily changed.

It is always recommended to take a note pad write notes in your phone or tablet to each inspection and separating each property so you can compare the pros and cons after in stead of trying to remember each one. Remember to take plenty of photos as this will assist in avoiding multiple inspections.

How do make a conditional offer?

Once you have decided this is the property you would like to proceed with, you will need to make a conditional offer in writing subject to unconditional approval to the real estate agent who will then pass it on to the vendors (current owners who are selling) who will then decide to either accept the offer, decline the offer or counter the offer.

When making an offer is smarter to make a reasonable offer than to “low ball the seller” as it makes it easier to negotiate with them later down the road i.e. negotiating contract conditions.

This is the third article of the property purchase series. If you are interested, and would like to learn more. Please click here for the part 4 of this 10 part series on the property purchase process. Please click here for previous post of the series.

Disclaimer: This information is general advice only. If anything is taken from this article, it is at the reader’s own discretion, and KISS Solutions Pty Ltd trading as Jannar Financial Group takes no responsibility for any potential consequences from writing this article as any decision made to proceed with a finance application is at the client’s own risk.



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