Questions & Answers

RESIDENTIAL

 

Real Estate Questions and Answers.

1/ Why Should I Choose a Real Estate Agent to Sell My Property?

Choosing a real estate agent is more like choosing a personal ‘representative’ in buying or selling your property.

The Internet has opened up a world of information that wasn’t previously available to home buyers and sellers. The data provided is not always as current as that which can be accessed by those among the Real Estate profession.

When you need to check on your health, you see the expert… a doctor. When you have something wrong with a tooth, you go to the expert… a Dentist so when it comes to property it only makes sense to speak to a Real Estate Agent and Property Expert.

 

2/ Private Treaty or Auction… What is the Difference?

Private Treaty is when you set the price at which your property is to be sold to the public. Your agent will then negotiate the sale price with prospective buyers in private.

Auctions are when prospective purchasers all come together to bid against one another on your property, with the highest bidder being successful.

 

3/ How Does Stamp Duty Affect Me?

Stamp Duty is revenue levied by the states on various transactions including property; however, it does vary depending on the value of the property. The general rule of thumb is the more expensive a property, the higher the stamp duty which must be paid in turn by settlement.

 

4/ What Real Estate Government Grants am I Eligible For?

Government Grants for property are ever changing and are used to stimulate a certain sector of the economy, i.e. The First Home Buyers Grant assisted those looking to purchase their first property with a discount incentive on the Stamp Duty generally paid. It is best to contact your relevant government bodies’ i.e Office of State Revenue for all the current Grants available and what you may be eligible for.

 

5/ At an Auction, Is it necessary to register for each property that you might bid on?

When bidding at an Auction it is only necessary to register once. Your registration and bidding number will cover you for the entire event, not just one property.

 

6/ When signing an Agency Agreement for my home, there is the option for a Cooling Off Period… What is this?

The Office of Fair Trading states that a “cooling-off” period commences when the agreement has been signed by or for each of the client/s and ends at 5pm on the next business day or Saturday. Public holidays, bank holidays and Sundays are not included in the “cooling-off period.” This is just a window of opportunity for you to either change your mind or not proceed with the sale of your property.

 

7/ Once I have chosen an Agent to sell my property, do I need to prepare anything else?

You will need to appoint a solicitor, ensure your property is clean and de-cluttered in preparation for Marketing and photos to be taken, not only inside for the inspections but also the facade for those buyers who favour “first impressions”.

You should also consider re-visiting your financial arrangements to ensure you will not be penalised on any restricting loan structures – visit Mint360finance for a complimentary discussion on how best to move forward.

 

8/ Do I need to appoint a conveyance/solicitor whether I am Buying or Selling a property?

It is highly recommended to obtain the services of a solicitor/conveyancer whether you are buying or selling your property. They will ensure all legal avenues are followed both on your behalf and also with the other parties involved for your protection in the transaction.

DISCLAIMER The content of this web site is provided for information purposes only and while reasonable care is taken in its preparation, Mint360property does not guarantee or warrant the accuracy, reliability, completeness or currency of the information on this site or its usefulness in achieving any purpose.