Buying a Property For Dummies:

Title Page
Copyright Page
Table of Contents
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Where to Go from Here
Chapter 1 Getting Ready to Buy Real Estate
	Purchasing Residential Properties
		Freestanding houses
		Attached housing
			Apartments and units
			Townhouses
		Deciding among the options
	Using Your Home as a Base for Investing
		Why tax makes ‘home’ and ‘investment’ different
		Buying a place of your own
		Converting your home to a rental
	Considering Rentvesting
Chapter 2 Understanding Buying Strategies
	Buying Property Strategies
		Private treaty sales
		Public auctions
		Tenders
	Taking Advantage of Off-Market Sales
Chapter 3 Finding Your Expert Team
	Establishing Your Team Early
	Getting Good Legal Advice
		Choosing your solicitor
		Solicitors versus conveyancers
	Lining Up a Lender or Mortgage Broker
		Reviewing roles
		Building relationships
	Adding an Accountant
	Inspecting with a Building Expert
	Working with Real Estate Professionals to Buy and Sell Property
		Understanding what agents do
		On the lookout: Buyers’ agents and QPIAs
			Understanding the advantages of buyers’ agents
			Considering the costs of buyers’ agents
Chapter 4 Financing Your Property Purchase
	Calculating the Costs of Entry
		Determining what you need to get started
		Don’t forget stamp duty
		Overcoming deposit limitations
	Rounding Up the Required Cash
		Make saving a habit
		Tap into other cash sources
	Primary Sources of Finance: Lenders Big and Small
		Banks
		Building societies and credit unions
		Non-bank lenders
Chapter 5 Understanding Mortgages
	Taking a Look at Mortgages
		Going with the flow: Variable-rate mortgages
			Standard variable rates
			Discount variable rates and ‘no frills’ loans
		Honeymoon rates
		Average annual percentage rates
		The security of fixed-rate mortgages
		Tax-effective interest-only loans
		Making a dent with principal and interest loans
	Making Some Decisions
		Deciding between variable and fixed
		Deciding between interest-only and principal and interest
		Deciding on a loan term
	Sizing Up Banking Products
		Interest rates: Is cheaper always better?
		Merging your home and investment finances
Chapter 6 Working Out the Ongoing Costs of Real Estate
	Budgeting for the Inevitable
		Mortgage interest — month in, month out
		Financing unpredictable maintenance issues
			Real estate agent management of maintenance costs
			Funding major maintenance issues
		Body corporate fees
	Ongoing Property Taxes
		Council rates
		Land tax
	Other Costs to Be Aware Of
		Utility charges
		Agents’ fees
		Property improvements
		Insurance
Chapter 7 Evaluating Property and Making an Offer
	Valuation: Working Out How Much to Pay
		Market data (sales-comparison) approach
		Cost approach
		Calculating a yield-based return
		Finding properties where you can add value
	Negotiating Basics
		Selecting negotiating styles
		Building your knowledge base
			Do your homework
			Figure out the seller’s motivations
			Bring your data to the table
		Assembling attractive and realistic offers
			Factoring in fix-up costs
			Creatively meeting the seller’s price
	Making Your Offer
		Understanding the basics of contracts
		Completing the contract of sale
			Paying the deposit
			Setting the settlement date
			Using conditions effectively
			Ironing out other issues
	Determining How to Hold Title
		Sole ownership
		Joint tenancy
		Tenants in common
Chapter 8 Getting Your Head Around the Legal Requirements
	Offer Accepted!
		Setting a settlement date
		Hi ho, off to the lawyers you go
		Conveyancers’ duties
		Removing conditions
	Conducting Formal Due Diligence
		Reviewing the records for larger deals
		Inspecting the property
			Caveat emptor
			Types of inspections
			Building inspections
			Pest control and property damage
			Qualifying the inspectors
	Using the Settlement Period Wisely
		Taking control at settlement
		Insuring the property
		Preparing for tenants
		Balancing at settlement
		Pre-settlement inspections
		Taking ownership
Chapter 9 Ten (Okay, Six) Signs You’re About to be Stung by a Spruiker
	Not disclosing kickbacks or commissions
	Offering discounts for signing contracts immediately
	Using pressure tactics
	Running free seminars that come with hard sells
	Not following the same investment strategy
	Using the cut-and-run approach
Index
EULA