Releasing a deposit to the seller prior to settlement is always risky. If a deposit is released prior to settlement the purchaser is deemed to have accepted title. On signing of the contracts many selling agents will attempt to get the buyer to sign what is known as a Section 27 release of deposit statement.…
Your Buyers Advocate Newsletter It has been reported that over two million Australians own residential investment property. The quality of many people’s retirement is tied to having made an astute property selection.It is therefore important that powerful media outlets provide accurate and balanced commentary on the property industry. The popular Australian television show known as…
The following are examples of capital growth performance of properties I have selected for clients. All properties are situated in inner Melbourne suburbs; Date of Purchase Buying Price Date Sold Selling Price Time Held Gross Profit Property 1 12-5-2006 $347,000 22-3-2014 $565,000 7 years 10 months $218,000 Property 2 9-3-2007 $435,000 14-11-2009 $593,000 2 years…
Blue chip residential investment real estate has all the attributes of what a quality asset should have. The primary attribute is that it must double in value within a relatively short period of time.This overrides all other important ingredients.The optimum residential property selection will double in value approximately every ten years. Secondly, a quality investment…
Buying rural property throws up a unique set of circumstances for property buyers. People that have never purchased a property in a rural area would be well advised to seek independent advice before taking the plunge. Over the last few years I have assisted several buyers purchase rural property. I am confident I can add…
A pre-purchase building and pest inspection is essential for all property purchases. I am astounded that many buyers do not obtain a report. With the Melbourne median house price at around $820,000 a report costing just hundreds of dollars should be considered essential. Over the years I have had some clients grumble about the amount…
Buyers of brick or masonry homes should pay particular attention to the serious building defect known as rising damp. Through capillary action, moisture can make its way up a brick wall from the ground. A breakdown in the waterproofing barrier or garden beds being constructed above an existing damp proof course can result in rising…
Real estate is a very egalitarian investment option. It doesn’t matter how many university degrees you have, where you went to school, who you know or where you come from. You don’t even have to laugh at the bosses jokes. Provided you make the optimum selection your investment property will keep appreciating at a fast…
Apartments and villa units are becoming the investment of choice for many Melburnians. With house prices going through the roof these types of properties provide an affordable alternative. Provided the optimum selection is made they will produce exceptional capital growth. As a result more and more Melburnians are becoming members of an owners corporation. Having…
Making a sub-standard investment property selection has a series of negative implications for investors. A poor decision isn’t easily rectified as divesting out of property incurs substantial costs. Also, the time frame between placing a property on the market and receiving the proceeds of the sale is lengthy compared with other asset classes. The optimum…