Buyer Answers — Full Index

Straight answers to the questions Illawarra buyers ask most — grouped by topic, with a link to the full answer for each question.

Building, Pest & Due Diligence

Can I negotiate the price after a building inspection?

How do I know if a strata building is financially healthy?

Should I get a building inspection before auction?

What are deal-breaker issues in a building report?

What are the flood risk areas in the Illawarra?

What does a building and pest inspection look for?

What does bushfire prone land mean for buyers in the Illawarra?

What happens if a building inspection finds termites?

What is a reasonable capital works fund balance?

What should I look for in a strata report?

Buying Process

How do I avoid being gazumped?

How do I make an offer on a house in NSW?

How do I negotiate after a property is passed in?

How does buying at auction work in NSW?

How does off-market property buying work?

How long does it take to buy a house in NSW?

Is it better to bid early or late at auction?

What does under offer mean — can I still make an offer?

What happens if I win an auction and can't get finance?

What happens when a property is passed in at auction?

What is an expression of interest in property?

What is gazumping and is it legal in NSW?

What is the step-by-step process of buying a property in NSW?

What should I bring to an auction in NSW?

Contract & Legal

Can the vendor take the dishwasher when they sell?

Do I need a solicitor or conveyancer to buy property in NSW?

Should I waive the cooling-off period with a 66W certificate?

What does a conveyancer actually do when I buy a house?

What does an easement mean for my property?

What does exchange of contracts mean?

What does vacant possession mean in a contract?

What happens at property settlement in NSW?

What happens if I pull out of a property purchase in NSW?

What is a caveat on a property?

What is a Section 10.7 certificate and why do I need one?

What is a subject to finance clause and should I use it?

What is the difference between fixtures and fittings?

What should I check at a pre-settlement inspection?

Finance & Borrowing

Can I get a home loan with a 5% deposit?

Can I use equity to buy an investment property?

How does a guarantor loan work in NSW?

How does an offset account actually save me money?

How does serviceability affect how much I can borrow?

How long does pre-approval last in Australia?

How much can I borrow on a single income in NSW?

How much deposit do I need to buy a house in NSW?

How much do I need to earn to buy in Wollongong?

Should I fix my interest rate or go variable?

What happens if my bank valuation comes in lower than the purchase price?

What is a comparison rate and why does it matter?

What is a split loan and is it worth it?

What is borrowing capacity and how is it calculated?

What is cross-collateralisation and should I avoid it?

What is the difference between a redraw facility and an offset account?

What is the difference between pre-approval and unconditional approval?

What is the minimum deposit to avoid LMI?

First Home Buyers

Can I buy with a 5% deposit as a first home buyer in NSW?

Can I use the First Home Owner Grant for an existing property?

How does the First Home Buyer Assistance Scheme work?

How much stamp duty will I pay as a first home buyer in NSW?

What grants and schemes are available for first home buyers in NSW?

What is the best strategy for a first home buyer in the Illawarra?

What is the Help to Buy shared equity scheme?

What is the income limit for first home buyer concessions in NSW?

What is the price cap for first home buyer stamp duty exemption in NSW?

What is the Regional First Home Buyer Guarantee?

Investment

How does capital gains tax work when I sell an investment property?

How much land tax will I pay on an investment property in NSW?

Is Wollongong a good place to invest in property?

What is a depreciation schedule and do I need one?

What is negative gearing and does it still work in Australia?

What is the difference between gross yield and net yield?

Property Potential & Planning

Can I add a granny flat to my property in Wollongong?

Can I knock down and rebuild in the Illawarra?

Can I subdivide my property in the Illawarra?

What does a heritage listing mean for buyers?

What does DA approved mean when buying a property?

What does zoning mean for what I can build?

What is a battleaxe block and what should buyers know?

What is complying development and how is it different from DA approval?

What is floor space ratio and how does it affect my plans?

What is the difference between a duplex and dual occupancy?

Strata

Are strata levies negotiable?

Can I renovate a strata property?

What do strata by-laws typically restrict?

What happens if a strata building has major defects?

What is a special levy and how much warning will I get?

What is an owner's corporation and what does it control?

What is the difference between administrative fund and capital works fund?

See the full searchable version on the Buyer Answers page.