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Best place to begin is on the road. Go out to a few open houses and meet the Property Managers. Depending on the area and type of property, they will give you some ideas on how to put your application forward. Also, don’t be afraid to take on a short term lease so that you can prove yourself.

The condition of the bathroom will be the factor when selling. Consider whether the purchaser will be able to live with the bathroom as is and renovate in a year or two. If not, renovating may be the best option.

Because the purchase of a property at auction is unconditional, you need to ensure that all searches, checks and finance approvals are conducted prior to the auction. The agent and your solicitor can assist you with arranging these. Your solicitor should also seek approval for any changes to the contract from the seller’s solicitor prior to the auction (such as length of settlement, inclusions or repairs).

You should bring the confirmation of any such approved changes with you on auction day and present them to the agent if you are the successful bidder. You should also bring an acceptable form of payment to the auction – either a personal or bank cheque. A bank transfer following the auction is not acceptable.

The agent can assist you in advance should you have any concerns regarding payment of the deposit. It is possible to pre-register to bid at an auction and the agent can assist you with this. If you wish to have someone bid on your behalf, whether you will be present or not, you should let the agent know in advance so they can give you the correct forms for authorising another party to bid for you.

You should always let the agent know well in advance of auction day that you are intending to bid as there may be last minute changes to the contract or other developments that the agent will need to inform all interested buyers about.

On settlement day your solicitor and the buyer’s solicitor will forward to your agent notification that the property has settled. Once your agent receives these instructions in writing they are able to release keys to the buyer. The agent will not release the keys without first receiving these written instructions from the solicitors even if they have been verbally told that the property has settled. Your solicitor should also notify your agent of how the deposit funds are to be sent to you or your bank following settlement. These should be sent well in advance of settlement and you should allow a few days following settlement for the agent to be able to release these funds to you.

Generally, if you’re buying via private treaty (not at auction) you have the ability to set some purchase conditions. For example, you may be able to make your offer ‘subject to finance’ and ‘subject to pest and building conditions’. It’s a good idea to get your solicitor or conveyancer to look into this for you and give you advice.

When you make an offer subject to conditions you need to set a date that they expire. You’ll need to factor in the time it might take for final approval to be given. You should check that time frame with your lender too.

If the house you want is being sold at auction you probably won’t be able to make a conditional offer. Auction conditions usually state you must have the deposit on the day and finance secured. Even if you want to make an offer before auction, the conditions are usually the same.

The sales agent will be able to give you some guidance as to where an acceptable value lies, taking into consideration the interest from other buyers, the seller’s expectations, recent comparable sales and other properties currently for sale.

It is advisable to maintain contact with the agent leading up to the auction so you are aware of any changes in what the property will likely reach on auction day. The agent will also be able to give you feedback on whether the price you are prepared to pay is within the likely selling range. When determining what you’re prepared to pay you should consider where you see value compared to other properties.

Best idea is to speak to your agent. They’ll know the area best and can help direct you according to the type of buyer you’re hoping to attract. Always best to have a clear space for buyers to walk through the home easily.

If you are the highest bidder at auction you will need to hand over a deposit of 10% of the purchase price on the day. This can be in the form of a personal or bank cheque – a bank transfer is not acceptable.

The deposit is paid to the seller’s real estate agent or solicitor who will place the money into a trust account until settlement, when the balance of the purchase price is paid. The interest earned on this deposit is shared equally between vendor and buyer.

An Unconditional Contract of Sale is accompanied by a Section 66W Certificate which your solicitor or conveyancer will provide you with. This effectively waives the five day cooling off period of the standard Contract of Sale for a private treaty sale, and the contract is unconditional once exchanged. This means there is no backing out without serious financial consequences! (NSW)

When preparing your property for an ‘open for inspection’ it is often a good idea to arrange furniture so that people can move through the home with ease. Any small valuable items should be placed away securely (thefts are extremely rare and the agent will be keeping an eye on your property but small items are the most at risk of going missing).

On rainy days leave out extra doormats or towels for people to dry their feet on before entering your home. If you have flooring that could be easily damaged by dirt or high heels you should ask the agent to tell buyers to remove their shoes. Make sure all windows, curtains and blinds are open for maximum light and make sure you heat or cool the home where possible.

The seller has the right to make one bid themselves during the auction, which is known as a vendor bid. If the seller exercises this right the auctioneer will clearly announce that a vendor bid has been made.

You should view a vendor bid as the auctioneer’s indication that the current level of bidding is below the seller’s expectations. If you are intent on buying, you will need to bid above the vendor bid.

Some sellers will consider selling their property prior to auction for an acceptable offer while others will not. The agent will be able to give you guidance on whether or not the owner is accepting offers prior and in what form these offers will need to be made. In most cases any offers made prior to auction will need to be in the form of an offer on an Unconditional Contract of Sale.

The seller and the agent are not obliged to inform other interested buyers that the property is going to be sold prior to auction but in most cases will do so.

It is important to let the agent know that you’re interested in a property going to auction as soon as possible. Inform them of what you may consider paying so that they know to contact you if a sale prior to auction becomes likely.

Yes, email is a perfectly acceptable way of making a written offer! The sales agent will instruct you on what you need to state in your offer.

It is highly beneficial to get both a building and pest inspection from an independent contractor before you purchase a property – it could save you plenty of money and a world of hassle down the track. If you sign a contract without checking the condition of the property, under the age-old legal notion of ‘caveat emptor’ (buyer beware) you’re stuck, regardless of what turns up after taking possession.

You will be provided with a written account of the condition of the property, informing you of any significant building/pest defects or problems. These reports should be discussed in detail with the inspector so you can be completely aware of the severity and potential costs associated with any issues highlighted. You can find specialist building and pest inspectors online or ask your solicitor/conveyancer to recommend one to you.

The sales agent will be able to give you some guidance as to where an acceptable value lies, taking into consideration the interest from other buyers, the seller’s expectations, recent comparable sales and other properties currently for sale.

It is advisable to maintain contact with the agent leading up to the auction so you are aware of any changes in what the property will likely reach on auction day. The agent will also be able to give you feedback on whether the price you are prepared to pay is within the likely selling range. When determining what you’re prepared to pay you should consider where you see value compared to other properties.

When making an offer on a private treaty property you should consider where you see value as compared to other similar properties you have looked at. The sales agent will be able to give you some guidance as to what a realistic figure would be, giving consideration to interest from other buyers, the seller’s expectations, recent comparable sales and other properties currently for sale. Many private treaty properties are advertised with an ‘offers over’ figure or even a listed asking price to give you guidance. Note that you are able to make a lesser offer.

When you arrive at the on-site or in-room auction you will need to register as a bidder or have someone registered to bid on your behalf. You and they will require an Australian driver’s licence or other form/s of acceptable ID in order to register.

You will also need to have with you the ability to pay the deposit on the fall of the hammer. A personal or bank cheque is an acceptable form of payment. It is not acceptable to do a bank transfer following the auction. If you or your authorised bidder don’t have an acceptable form of payment with you the agent and auctioneer may refuse to register you.

At auction the highest bidder becomes the purchaser on the fall of the auctioneer’s hammer if the reserve price for the property has been met. The auctioneer will clearly announce that the property is selling to the highest bidder once the reserve has been reached and the seller has instructed that the property is on the market.

The purchaser then immediately enters into an unconditional contract to purchase the property and must pay a deposit, normally 10% of the purchase price unless a different amount has been negotiated prior. It’s important to note that there is no cooling off period when a property is sold under the hammer at auction and the contract is immediately binding.

Should the bidding on the property not reach the reserve set by the seller, the auctioneer will ‘pass in’ the property and begin private negotiations between the seller and interested purchasers. In this circumstance some sellers will prefer to negotiate exclusively with the highest bidder and try to reach an agreement on price and exchange contracts. If an agreement cannot be reached the seller may then negotiate with other potential purchasers including any that may not have been registered to bid at the auction.

Auction conditions continue until midnight on the same day once a property has been passed in, meaning that any exchange of contracts is unconditional and no cooling off period applies.

Make sure you know the maximum price you are prepared and able to pay and don’t exceed your financial capabilities at auction, because once the hammer falls, there’s no backing out.

Depending on how fast we can get in contact with your references and the Landlord. Make sure when you submit your application, all of your references know we’re calling so they can be ready to assist. We generally try to have an answer back to you within the week.

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