What happens next?

So, now you have a signed contract what should you do?

The number 1 thing to do when buying a house is actually something you wouldn't think of doing... that is insure your property.  Yes, that's right building insurance.  Now you are in a contract to purchase you have an interest in the property.  What would happen if it burnt down before you getting access after settlement?  So that is the first thing to do.

You will also need to find a solicitor who can do the searches and attend at settlement for you.  Unfortunately the law firm where I work would have been too expensive to use.  I did some research and got some quotes.  I found some solicitors were extremely cheap with legal fees around the $500 mark.  I thought it would be better to pay a little bit more and have someone that just does conveyances.  I came across OnLine Conveyancing Centre.  Their quote was $599 plus search fees of $429 plus a settlement attendance fee of $60.  All up it would cost $1,088.  So we were happy with that.

Next, talk about money.