Posted in Tips

6 things you should do when you've found a prope...

Posted by Joanne Anderson on 9 September 2018
6 things you should do when you've found a property to purchase...

You've found a property you love, what are the first 6 important steps?

  1. Ask the agent to send through a Contract to us for review before you sign anything;
  2. Decide whether you want to put down an initial deposit to hold the property while you're getting ready with your inspections and finance (this is called a cooling off period - for more information on this process click here;
  3. Organise some inspections.  We can send you through recommendations for pest and building inspectors if you are buying a free-standing house, or organise a strata inspection for you if you are buying a unit;
  4. If you are getting finance for the purchase, talk to your broker or banker.  This process will generally take the longest before you are ready to secure your new home, so talk to them without delay to advise that you've found the property you want to go ahead with purchasing; 
  5. Make a list of questions for when you're speaking to various people along the way of your purchase.  It's very easy to get overloaded with information and then forget what you felt was important to ask.  Making a list you can refer to when you're on the phone or in person can avoid overlooking anything;
  6. Get ready to be a proud new property owner!
Posted in: Tips Purchasing property First Home Buyer  

What costs should I consider when selling my home?

Posted by Joanne Anderson on 1 July 2018
What costs should I consider when selling my home?

There are a number of costs to take into account when making the decision to sell your home.

The first step is to consider what type of home loan you have.  If you have fixed your interest rate for a term, then the bank will likely have "break costs"- these can be substantial.  So you should speak to your bank about the amount that would apply in your circumstance before committing to a sale.  Generally, the longer you have left remaining on the fixed period, the more those costs will be.  If you have a variable interest rate then break fees should not apply, but you should still check with your bank to make sure you know what their discharge fees will be.

You should then consider your real estate agent's commission.  This is generally a set percentage of the sale price you achieve once you have a buyer.  The fee is negotiable and will vary between different agents.  Always check if the percentage amount you are quoted is inclusive of GST.  You should also ask what other costs there may be such as advertising or marketing, that may be charged in addition to the commission percentage.

If you are thinking of selling without a real estate agent, you need to consider the marketing and advertising costs you will need to outlay.  You also need to make sure you are a skilled negotiator, and have the time to show your property, receive enquiries and be able to accept potential negative feedback about your property, not just the positive.

Your conveyancing fees will be fixed, and we will provide you with a set amount of what those are.  Many other lawyers or conveyancers will give you a quoted fee which does not include disbursements.  Disbursements are expenses outlaid in your sale such as council certificates and searches.  Our quote includes these amounts, so you can be assured that there won't be any nasty surprises leaving you short of funds on settlement day.

You should also importantly consider your moving costs.  Research removalist fees in your area, these can potentially be more than you expect.  Don't underestimate the amount of household items you will have to move, so the quote you get doesn't increase when there is more than anticipated to collect on moving day.

Going through all your costs before you make the decision to sell, can make sure you feel elated when you get that right price!

Posted in: Tips Selling property  

What is a first home buyer in NSW?

Posted on 24 June 2018
What is a first home buyer in NSW?

In NSW, to be a first home buyer, you must be a person of at least 18 years of age who has not, and whose spouse/de facto has not:

  • at any time owned (either solely or with someone else) residential property in Australia other than property owned solely as trustee or executor
  • previously received an exemption or concession under First HomeNew Home
The First Home Buyers Assistance scheme provides eligible purchasers with exemptions on transfer duty on new and existing homes valued up to $650,000 and concessions on duty for new and existing homes valued between $650,000 and $800,000.

Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000, and will receive concessions on duty for vacant land valued between $350,000 and $450,000.

If there are more than one first home buyers purchasing a property, at least one must occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of completion of the agreement.

Posted in: Tips First Home Buyer  

Can you remember what is there?

Posted by Joanne Anderson on 10 May 2014

You've found the house you like, you've had an inspection and seen some things you like, some you don't, and made the exciting decision that you are going to buy.  The process then starts in a flurry: offers and acceptance, talking to your banker / broker, contacting us to start the conveyancing process, thinking about moving arrangements, what you'll do when you move in etc.  

By the time inspections are done, your finance is arranged and you are ready to sign the Contract, can you remember what fixtures and fittings there are, and more importantly, are they in working order??  

The Contract provides that the property will be in the same state at settlement time as it was at exchange.  So if a fixture isn't working when you first viewed the property and you don't seek agreement for it to be repaired before settlement, the vendor has no obligation to fix that issue.  

Just before you are ready to exchange and lock yourself into the purchase, contact the agent to have another look through & remember what you are buying.  Test everything you can & let us know if there are any repairs that need to be made so you can avoid any moving day dissapointment, and raise the request before the Contract becomes binding.

Posted in: Tips  

Time to put your house on the market?

Posted by Joanne Anderson on 9 September 2013

So the election is over, spring is here, you're starting to think of the new year looming and decide it's time for a move?  

The first step is to contact us at Anderson Conveyancing to prepare a Contract for Sale of your home.  Whether you are listing your property privately, or through one of the local real estate agents, it is a legal requirement to have a Contract prepared. Under legislation, there are certain documents that need to be included in that Contract, and these are arranged by us as your conveyancers.  However, have a look at your documentation from when you purchased to see if you hold anything such as council approval, a survey report, house plans, home warranty insurance (if building work has been undertaken in the last 6 years) or any additional information.  Whilst you are not required to provide any further documents than what will be included in a standard Contract, you will find buyers will ask plenty of questions when they are interested in your property.  The more information you have on hand, the more likely the matter will proceed smoothly and quickly into a sale for you.  

If you don't have any additional documents, it may be a good idea to make a visit to the Contract and see what documents they can provide you with so you have these on hand.  It will save the buyer a trip to Council and in any event, given they are not the owners, Council will not as readily provide the information to them.  If you have a swimming pool, remember to have it registered.  

As well as starting to get your house "spring clean" ready for inspections, make sure you "spring clean" your documentation and give yourself every opportunity to maximise your sales potential.  Give us a call today and  we can answer any questions you may have and get that Contract underway!

Posted in: Tips  
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