Upsidedown has given you a great rundown there- great work!!

Hi Megan

If you've never been up here before, use your week wisely and take a good look at your priorities BEFORE you arrive for your reccie trip, so that you can narrow down your choice of suburbs.  Parramatta and surrounds is a huge area of Sydney, and so we really need to know the following to help you here:

1. How important is transport and proximity to Parra CBD itself?  Do you need public transport?  How far from Parramatta are you prepared to live?

2. Besides your price range, what are your needs family-wise?  Do you need to be close to shops, schools, community facilities etc?  What type specifically?

3.  Are you prepared to renovate or do you prefer something newer?  What's your style?

I know Parramatta and the Hills District very well, having grown up, been schooled and currently working in these areas.  As a BA it's my job to help people (often such as yourself) to locate the right property, for the very best price and terms possible in the current marketplace. 
What I can tell you is that Parramatta was recently given a terrific growth forecast by John Edwards (head of Residex) of having 13% future annual capital growth.  It's an expanding area, and is beginning to see more interest from investors as they realise the low price entry for a big city like Sydney.  Because it's also known as Sydney's second CBD it's a popular area for business as well as first home owners.
My picks are actually in the surrounding suburbs of Northmead, Winston Hills and Baulkham Hills, in particular.  Transport generally isn't an issue, as most of the townhouses in these suburbs are close enough to the main drag of Windsor Rd, which has buses directly into Parramatta on a regular basis.  You can also catch the bus into the Sydney CBD though Parramatta's train line does make it a popular choice for renters for this reason.  I prefer buses myself, as long as they're on time!!

Anyway, hope this helps.  Good luck with your trip and let us know how you go….

Oh, another "nice" suburb close by (but not with the best transport) is North Rocks. 

Have fun!

Hi Cherry

Where are you looking?  I'm a BA here in Sydney (boutique agency Northside) but do know of a couple of BA's I'd be happy to recommend elsewhere in Vic and Qld. 

Try http://www.invested.com.au and http://www.somersoft.com.au for some more reading- both are great, though InvestEd also covers other asset vehicles such as shares and funds, as well as property. 
Happy reading!

Hi Cherry

It would help if you told us which state you’re looking to buy in. I’m a BA here in Sydney but do know someone reputable should you be looking in Qld as well.

Good luck with your quest.

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

Hi SK

We’ve recommended a few people to clients but I’ve always found this conveyancer to be efficient and a great communicator.

Try Fran at http://www.conveyancingavenue.com.au

Good luck

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

Linda is spot on about the 0.25% due on exchange with the remainder of the deposit (5 or 10% is most common though some vendors will accept less upon request or depending on individual circumstances) then due when the contract goes unconditional, which usually occurs after expiration of the five day cooling off period in NSW.
To make an offer possibly more attractive to the vendor, however, some buyers will opt to waive this cooling off period (using a form called a s66w form) and exchange, with the entire deposit then due as part of the deal. Once a contract is unconditional, and the purchaser then pulls out of the deal (rare but it does happen!), the vendor is able to legally retain 10% deposit. This is often the reason why vendors (and their legal representation) will insist upon 10% deposit.

For a really simple and easy to follow guide to buying property in NSW check out the Fair Trading link here:

http://www.fairtrading.nsw.gov.au/realestaterenting/buyingselling/buyingprocess.html

As for expressions of interest or good faith payments, they mean nothing legally and, as such, shouldn’t be relied upon as “holding” the property in any way, shape or form. As Linda has rightfully pointed out, until contracts are formally exchanged in NSW, the property remains on the market to any potential purchaser.

How’s the Hornsby market going, Linda? Would be interested to hear your opinion on where you believe that section of Sydney is at in this sector of the cycle.

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

Check out us over at http://www.invested.com.au

Totally Australian, with articles as well as a balanced forum where all forms of investing is discussed.

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

Hiya DD
I don’t know when you last looked but Mt Druitt has plenty of stock in housing under $300K but the rental yields are still pretty poor.
Example one of many currently being advertised:

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=103460198&f=0&p=10&t=res&ty=&fmt=&header=&s=nsw&snf=rbs&tm=1158996832&c=69387412

As for Scott McGeever, I can personally recommend him as I know a couple of people who’ve used him and been very happy with his services. He is ethical, diligent and knows his stuff. Well worth using a BA if you’re interstate and don’t know the area or simply lack the time or energy to do the search on your own.

Good luck with your search Sunny

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

No one can make this decision but yourselves.
Keep in mind, however, that if you do buy to live in as your PPOR you may qualify for stamp duty concessions and the $7K FHOG as well. If you then sell later down the track no capital gains tax is payable on a PPOR. Even if you only lived in it for a short period and then rented it out, you are able to do so for 6 yrs before being liable for any cgt.
Good luck with whatever you decide

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site

Hi Leewizza
You can certainly get building/pest reports done prior to signing the contract of sale. Probably wiser, if you’re the only interested buyer, as the only money you risk losing is the cost of the reports themselves, should there be too many problems. A small price to pay.
If you offer and subsequently sign a contract first, however, you can then use the five day cooling off period in which to get the inspections done. The only problem doing it this way is that, should they come back unsatisfactory during this period and you decide to pull out, then you forfeit 0.25% of the total purchase price to the vendor.
Let us know how you go and good luck!

Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydney

http://www.invested.com.au Australia’s premier Investor Education site