What landlords should look for when choosing a property manager….

Appointing a property manager to take care of a rental property is a major decision, but there is more for landlords to consider than fees alone.

How to keep your first property as an investment and why most home owners don’t do it…

How to keep your first property as an investment and why most home owners don’t do it

What happens when you list your home for sale?

What happens when you list your home for sale?

The potential sale of a property becomes very real the moment it’s officially listed by an agent.

While decades ago, listing your home involved simply putting a “for sale” sign in the front garden and the agent taking out an ad in the local newspaper, it’s now all about online advertising and a strategic sales strategy which accompanies it.

 Advertising and the sales strategy

The advertising side typically includes professional photography and a comprehensive media campaign, covering online and social and sometimes print media.

Campaigns usually include an internet listing, a sale board, letterbox drops and agency marketing via magazine and window display.

Then comes the actual sales strategy, which the agent drives. It covers the method of sale, staging suggestions, how many opens there will be and when, how negotiations will be managed, the roll-out and monitoring of advertising and lots more.

Preparation is key for any home sale. Picture: realestate.com.au/buy


Be ready to sell

A home should be picture-perfect the day the listing goes live.

 “You only get one chance at a first impression, so you want to make it count,” he says.  A good agent will help the vendor understand the best way to present their property to maximise the sale price.

Tweaking the strategy

While the sales strategy is designed to guide the sale process, it should be tweaked if needed,  “If, for example, the property doesn’t travel well at its first open, you should you re-assess your approach,”

“We are dealing in a market now where you will find out if the property is doing well in the first five days (of being listed). If you get 20 to 30 people through the inspection on day one, then it’s a good sign. If you get five people through, there is probably a need to re-strategise.”

Moving into your new apartment….

Moving into your new apartment

The day has finally arrived and you’re preparing to move into your brand-new apartment but there are still a few further things to think about before you settle in.  

 

Moving

Moving into your new apartment can be one of the most exciting moments of your life, especially if it is your first home. Most people take a few days to move in after they have settled but others cannot wait and dive straight in. However, moving into an apartment is not the same as a house and it may take a little more planning. 

Things to think about include: 

Access

Will you be carrying your whole life up the stairs or taking the elevator? You will need to inform your movers if they are going to be carrying things up themselves. Alternatively, if you’re using the elevator you may have to alert body corporate who may book an elevator for you and request protection be placed in the lift prior to the big move.

Your building manager

Having a building a manger and getting permission to move to a new house may be a new feeling but it is step one of realising you now live in a complex and need to be respectful of your neighbours. Chat to your building manager to discuss any issues that may arise. They likely have also seen many other people move in and may have a few tips.

Removalist insurance

Apartment complexes can be tricky environments to move around in with big furniture, and bumps and accidents are almost certainly likely to occur. This should be a consideration when choosing a removalist and it is worth checking what their policy is on damage and whether their insurance is up to date. This will give you peace and mean you’re covered in the case of something going wrong.

Height restrictions and parking

When it comes to moving vans, a little pre-planning will make the day run smoother. Most apartment blocks don’t have a driveway you can park in and most car parks will have height restrictions, so it could be worth taking note of these before you choose what type of moving van to go with.

Time of day

Out of hours moving will not go down well with your neighbours. It is also normal that newer and larger complexes have rules about time of days you can do the heavy lifting. If you’re moving outside 9am and 5pm you also will likely encounter lots of people heading to work or coming home, so maybe take the day off and get it done during the quiet period.

capi_c46eabacce15a60db29ed0b321e49af2_e0bcd7d0d57a85e079f6d95411c82125

Home buying checklist for 2021..

Home buying checklist for 2021

Buying a property is a big investment, so to make sure you’re on top of the fine print we’ve created this handy checklist of some of the legal things you’ll need to do in order to make the transaction painless.

If this is the year you want to buy a home, it’s time to sit down and familiarise yourself with the process and going through the necessary steps to ensure you’ve covered off all basis when it comes to the home buying checklist. Here are the steps you need to take.

Make a shortlist of properties you like

Finding a new place is an important move so you are going to want to take the time to do the appropriate amount of research and shortlist a few places that ticks your boxes.

To start, narrow down the neighbourhoods you like. Somethings you might want to include on your “must have” list include:

  • Transport in the area
  • Access to schools
  • The facilities and features of the suburb like parks, cafes, restaurants and so on
  • Suburb profile including the people that live there and crime rates

Engage a conveyancer

Once you’ve made your shortlist of places, you need to check over the finer details of the properties of interest and this is where you need to engage experts.

The conveyancing process usually will be what kick starts your legal journey to property ownership so it’s important to engage a solicitor or conveyancer who will be able to take care of the legalities for you.

But what’s the difference?

Couple signing paperwork on table

“Registered conveyancers are experts who specialise in conveyancing work … Some conveyancers are qualified solicitors but many are non-solicitors who have completed specialist tertiary education in conveyancing. In fact, many law firms employ registered conveyancers to undertake their conveyancing work.”

 The conveyancing process will be what kick starts your journey to property ownership.

While there are DIY conveyancing kits available, these are useful only for the most straightforward property transactions.

But even the most simple-looking transactions can become complicated by legislation and regulations, making DIY a riskier move on your big investment.

You’ll want your conveyancer to consider things like local or national planning controls, permitted uses, heritage overlays and body corporate constraints.

And like any transaction, if you have any concerns or additional knowledge regarding the property you’re buying, communicate them to your solicitor or conveyancer to ensure the best outcome.

Get to know the sales process

Conveyancing in Australia varies slightly from state to territory. And so does the sales process.

For instance, there’s no cooling-off period for auctions (which are popular in the big cities), but with private treaty sales it’s different. And it’s even possible to buy via ballot.

So make sure you know and understand the different sales processes before you start.

Check the title

Freestanding houses in Australia typically have a freehold Torrens Title. But other types of title exist for different property types and come with their own legalities.

Strata Title was introduced to Australia in 1961. It’s a system for handling the legal ownership of a portion of a building or structure including units, townhouses, villas, commercial offices, factories, warehouses, retail shops and more.

Before 1961 buyers used Company Title to effectively purchase shares in a building, and some older buildings remain under Company Title. Each system has its own pros and cons, as well as its own legalities.  

More from Guides

How to negotiate the purchase price when buying a house
How to bid at auction
19A Myrtle Crescent, Ferntree Gully - for herald sun real estate

The home’s bright, light-filled interior added to the appeal for buyers.


So if you’re buying an apartment, villa or townhouse, it’s important to do some research first to make sure you’re familiar with how it works as well as conducting a strata search.

You’ll need to adhere to bylaws, take into account the fact you will be paying regular levies for maintenance and other expenses and enjoy the responsibility of voting at annual general meetings run by the strata management company and electing an executive committee.

There’s also leasehold or community title. Your conveyancer can guide you.

Find out: The hidden costs of buying a home

Set time aside to do the paperwork

Again, the legal paperwork associated with buying property varies slightly from state to territory. The process usually includes these key events and documents:

Contract paperwork

The vendor’s solicitor prepares a contract note or contract of sale concerning the property’s information and detailing exactly what is for sale. The settlement date should be specified – normally 30, 60 or 90 days. It can be very complex – for example, with properties sold off the plan.

A contract usually has other documents attached, including a zoning certificate, drainage diagram, a plan for the land, and a Certificate of Title that confirms current ownership and whether there are any encumbrances on the property.

The legal paperwork associated with buying property varies slightly from state to territory.

Exchange

The contract is effectively made binding when it’s signed at “exchange”. This takes place either at the auction, or after a private treaty sale price is agreed, and a deposit is usually paid at this time.

Settlement

Settlement is usually six weeks after contracts are exchanged (but the date is specified in the contract) and is when you pay the remaining amount for the property. Stamp duty typically has to be paid within 30 days of settlement, but varies by state or territory.

Land transfer

Is a document to be finalised at settlement by your conveyancer.

Mortgage

If you’re raising finance for your property via a loan, your solicitor or conveyancer will need to supply certain documentation to your lender.

Type of ownership

When buying a property with someone else, you can usually own it in one of two ways: joint tenants, or tenants in common.

Read more: 6 Property Settlement Tips for Buyers

Organise the necessary inspections

The building inspection process is an important part of the legal checklist for buying property.

For instance, the electrics and plumbing need to have been installed to certain requirements, and any renovations should have been approved by council. It’s also important to check the boundaries are in the correct position.

A proper building and pest inspection can find potential faults where you might not have seen any.

As long as you do your homework, and tick off your legal checklist, owning real estate grants you many freedoms – to buy, sell, renovate, invest and bequeath – or just to enjoy.