New legislation aimed at curbing underquoting is due to be passed later this year. Unfortunately the new laws are essentially a duplication of the current law. Currently the law says that an estimated selling range must be stated on the authority between the selling agent and vendor. The selling agent cannot advertise an estimated selling…
After liaising with tradesmen for more than 30 years in various roles – in both the real estate and building industries – I feel I know what makes this type of beast tick. Generally speaking, I have always enjoyed talking to tradesmen because of their laid-back and unpretentious nature. However, I must say – being…
I received a call from a client asking me to evaluate and negotiate a block of land in country Victoria. It seemed a straightforward enough assignment. My client’s end goal was to build a home on the property. The owner was selling the land directly so I organised a chat over a cup of coffee.…
The Melbourne property market has continued on its merry way in 2015, but there have been signs over the past few months that the upward price acceleration is starting to slow. This is a welcome trend as any further upward movement would be unsustainable. The housing market experienced a strong June 2015 quarter, with the…
After pounding the pavement for six months you finally lock eyes on “the one”. It was love at first sight; beautiful with ornate detail, well-maintained with a nicely formed facade, an art deco gem. You expressed your interest to the selling agent and asked to be kept informed of all offers. He looked you in…
A standard real estate contract of sale allows the buyer to inspect a property within seven days of settlement. The general condition states that the vendor must deliver the property to the purchaser at settlement in the same condition as the day of sale, except for fair wear and tear. It is important all property…
You have saved hard and made many sacrifices over many years. At last you have been given approval from your financier to take the plunge into purchasing your first investment property; now for the exciting part, finding that perfect property. You have been reading the real estate sections of the daily newspapers and have…
What impact does exchange rate movements have on property prices? Exchange rate movements mainly affect demand for Australian real estate from foreign investors and expatriates. Australia is seen as a preferred destination for overseas property investors. The opportunity to own a freehold title as against a leasehold title, a relatively fair and transparent business environment…
Apartments have become the preferred investment choice for many astute investors over the last few years. This is because the price of a house in a quality street and location has skyrocketed and therefore has put it out of reach of the average investor. Apartment blocks that produce the optimum capital growth were mainly…
Licensed plumbing and electrical practitioners self-certify their work by issuing consumers with compliance certificates. Issuing a compliance certificate means the practitioner certifies that their work complies with all relevant regulatory requirements. Only licensed plumbing and electrical practitioners may issue compliance certificates. A licensed plumbing practitioner must issue a compliance certificate for all plumbing work that…