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FAQ’s

Just in case you have questions, we’ve prepared some answers.
But please don’t hesitate to give us a call. You’ll find a friendly Elephant Advisor at the other end of the phone.
Or, even shoot us a message via Messenger live chat.

What we stand for? icon-plus-g

We’re in the business of big decisions.
And, we have a big responsibility; a memorable role to play, in guiding go-getters, like you, to secure the right property. All to influence a lifetime and livelihood of great memories.

We clear the industry smoke screens and simplify the finding and financing process, with a team and service that’s focused on you. Because we’re believers in doing things the right way.

We’re the confidence backing your purchase.

We’re the time back in your busy schedule.

We’re the hard-earned back in your bank.

And, we’re advocating for a new way of buying property. Because securing a life-long asset should be a memorable experience.

We’re passionate about property and we care about leaving a lasting (and memorable) legacy of making the right decision!

Guiding go-getters, like yourself, to secure the right asset that lasts a lifetime.

And, influences a livelihood of great memories.

We’re progressive and passionate Advisors, who proudly stand in the way of poor property decisions.
We’re efficient with our processes and attentive in our approach.
We act independently and listen intently. With the right amount of patience and genuine effort, every time. Because, it’s the right way to the right decision.

As your Finance Advisor
We educate. We pre-approve. We compare rates from over 25 different lenders to secure the best finance. And, we even refinance, when the time is right.

As your Property Advocate
We strategise. We locate. We negotiate and buy on your behalf to secure the best price. We also sell by selecting and steering the right salesman.
So, working around your busy schedule, let us save you the hassle of the hunt and secure you the right finance, for the right life-long asset.

We’re progressive Property Advisors, passionate about helping you find and finance the right home for your life or livelihood.

We love helping ambitious people, like you, secure their dreams.
It sends a tiny tingle down our big elephant spine.

Meet our Elephant Advisors

What’s the difference between an investor and owner occupied home loan? icon-plus-g

When the bank reviews your situation, they will ascertain what the loan is for. For the most instances, your either purchase a place to live (owner occupied) or as in investment. Depending of this, will impact the interest rate you pay.

Why? Well a bank or lender needs to cater for the risk of your loan. In some markets both types of loans attract the some interest rates, in others they vary. It’s important to work on your situation early, to ensure the right loan is picked, for your specific situation.

There’s a number of finance options we provide at Elephant Financial. From residential home loans, investment home loans, commercial property loan, commercial finance and property development finance just to name a few. For the majority of our clients who are buying their first home, next home or investment properties there is no cost for our service.

For more complex requirements, we will always disclose any fees or charges upfront.

Home loan refinancing costs will vary depending on your individual circumstance. However, when we look at your situation, these fees are incorporated to ensure the total cost and benefits are known up front. A few fees that could be applicable from the various banks and lenders are:

Discharge fees: An administration fee paid to your current lender to pay out the existing loan in full and to prepare the required documentation.

Application fees: The fee associated with making a new loan application. These can range from $0 up to just under $1,000.

Valuation fees: A fee charged by the new institution to cover the cost of obtaining an up to date valuation on the property that you are offering as security.

Land registration fees: These are the fees to remove the existing mortgage from your current lender and register a new mortgage to your new lender.

Lenders Mortgage Insurance (LMI): If you have less than 20% equity in your property, your new financial institution may charge you lenders mortgage insurance. This protects the lender against mortgage default. Find out more about Lenders Mortgage Insurance here.

Ongoing fees: Some home loans will charge on ongoing fee. This fee ranges from $0 up to $750 per annum, and can incorporate bank packages.

Break fees: If you have a fixed rate home loan, you may also be hit with a contract break cost if you decide to refinance during the fixed rate period. This represents compensation for any loss of profit to the bank by your decision to break the contract. Break costs may or may not be charged depending on interest rate movements at the time. Click here to find out more about home loan break costs.

To qualify for a residential home loan, in most instances you will need to have a deposit saved. To have an easy home loan process, the higher the deposit the better. The deposit provides you and the bank a buffer when you purchase your new home or investment, and lowers the total loan amount required. The amount you need can vary from one lender to another. In general, most lenders and loan products require at least a 20% deposit.

However, some lenders offer loans with deposits as low as 10% or 5% which comes with their own set of conditions. The size of deposit required by a loan is indicated by the loan’s loan-to-value ratio, or LVR. For instance, a loan at 80% LVR would require you to pay a 20% deposit.

Can you organise conveyancing? icon-plus-g

Absolutely! We have preferred conveyancers that we use. We can help you appoint a conveyancer and liaise with them throughout the process.

Yes, We work closely with building inspectors that work throughout the state. We can organise and liaise with the inspectors on your behalf.

This is highly dependant on what you are looking for, the budget that you want to spend and the current property market environment.

Generally speaking we will secure a property in significantly less time compared to buyer’s that don’t use a Buyer’s advocate.

The main thing here is that you are not spending any of your time during the process, you can enjoy going out to cafe’s, sunbathing on the beach, enjoying long drives through the wine region while we do everything in the background.

Generally our fees are not tax deductible. We recommend speaking to you accountant as your specific situation will determine the answer.

We will do all the heavy lifting in finding a property. As long as you are realistic in what you are looking for we will find a property for you. Don’t expect that we will find a mansion for the price of a studio apartment.

Understanding your limitations is the first step of the process.

You will be spending hundreds of thousands maybe even a million dollars purchasing a property, the potential savings and peace of mind that you get from using a Buyer’s Advocate can see the money spent on fees mitigated.

We have tried to strip away any unnecessary costs to make our services as cost effective as possible. All our fees are fixed so you don’t have to worry about any hidden surprises down the line.

But most importantly we can tailor a package to your particular situation and budget.

Off-market properties are properties that are for sale but are not publicly advertised. They will not appear in any of the major listing sites, they may not even have a ‘For Sale’ sign out front. Essentially agents have a database of buyers that they will utilise to try and sell these types of properties before the general public even knows it’s up for sale.

Good news is, Yes! We have access to off-market properties as well!

In a property transaction a selling agent represents seller of the property, where as a buyer’s advocate represents the buyer, pretty self explanatory right?

Selling agents are experts at selling and negotiating. The risk that you run by not having a Buyer’s Advocate represent you in a transaction is potentially having the selling agent walk all over you and talk you into paying more than you should for a property.

At the end of the day, you can do anything yourself, if you are willing to take the time to learn how to do it.

The question is how much time do you have?

If you work full time, most likely you property search will involve scouring listing websites after hours and going to open homes during the weekend. The process of researching, searching and negotiating or bidding for property can be stressful and exhausting. Not to mention the mental strain of having to start the process again if you fail to secure the property.

The average buyer takes 9 months to purchase a property, if you could use a Buyer’s Advocate and have them secure a property for you within 2 months that is potentially 7 months worth of savings in rent. You do the math, if you are spending $500 in rent per week you could save around $15,000 in rental payments.

Other than saving you time here are some other reasons to appoint us as a Buyer’s Advocate:

  • Access to off market property
  • We represent you and your interests
  • We provide impartial and independent advice
  • Secure the best properties at the best possible price
  • We spend everyday searching, inspecting, negotiating and for property. Experience and knowledge is key to what we do, and we do it well.

We charge an initial deposit that is required to be paid within 7 days of engagement date. The remaining amount is paid once we are successful in securing your new property and is due within 7 days after the contract on the property becomes unconditional, however we can make alternate arrangements if required.

At Elephant Property we like to be as transparent as possible with our service and fees.
Our fees are fixed, so you don’t need to worry that spending more money on a property will cost you more in fees.
If you are looking to utilise our:
Complete Service it will be $12,950
Self-Locate – $8,950
Click here to view our Services.

If these packages don’t meet what you are looking for we can tailor a package to suit your needs.

Although we prefer meeting in person, we understand that you may be too busy or it may not be viable to meet in person. We are happy to conduct our service through email, over the phone or even video chat we don’t mind.

Yes, we prefer to get to know you and your goals before you sign up. Just as you will assess us for fit we will assess whether our services will match what you are looking for. Give us a call or send us an enquiry and we can run you through the process

Absolutely! That is the beauty of using a Buyer’s Advocate it doesn’t matter where you are in the world as long as you have a way to communicate with us we can help you purchase a property.

Yes, if you are looking to purchase in another states, give us a call to discuss your needs.

We primarily purchase within Melbourne, however we often purchase in areas outside of this depending on our client’s needs.

A buyers advocate, represents the buyer during the purchase of a property, just like a real estate agent represents a seller in a property transaction.