Is your home ready for summer? Lots of us take time off over the Christmas and New Year period and while the weather is good, it’s a great time to catch up on those chores that are hard to fit into our daily schedules. Here are our top tips to enjoy your holiday and your …
The home maintenance schedule every home owner should follow Owning a property is a huge financial responsibility with a host of recurrent costs that come along with ownership. But you can minimise unnecessary costs and stresses with regular maintenance and a bit of DIY. Of course, maintaining a home takes time and effort. That’s why …
Continue reading “Keep Your Home In Shape: Your Annual Home Maintenance Planner”
Residual current devices (RCDs) are an essential safety feature in any home. It is the seller’s responsibility to ensure that a home has at least two compliant RCDs installed before sale. But as a buyer, you need to understand why RCDs are so important, and how to make sure they remain fully functional after you …
Sometimes it’s the little things that cause the biggest headaches during settlement. This was certainly the case for one unsuspecting seller when a dispute arose between himself and the buyer after the discovery of live termites in a tree stump. In this instance, Mr Jones (not his real name) accepted an offer that was subject …
Continue reading “White Ants: Don’t Let These Little Pests Ruin a Deal”
A recent settlement case has highlighted the need for agents to understand the implications of ‘structural inspection clauses’, particularly, what it addresses and what it doesn’t. This was clearly demonstrated when a rookie agent incorrectly advised a buyer that some maintenance issues at a property would be covered by a structural inspection clause, potentially …
Continue reading “How rookie advice about a structural inspection almost cost a buyer thousands”
Have you ever wondered what actually happens on settlement day? Yeah, sure, you get a call from your settlement agent to tell you your property has settled. But what really happens inside the settlement agency black box in the hours leading up to that call? Well, the answer to that question depends on whether you’re …
What do you do when a buyer’s finance isn’t going to be approved by the latest date? If you’re like many of the agents we deal with you probably get the buyer and seller to sign a contract variation extending the latest date for finance approval. It seems like the right thing to do, and …
Continue reading “My finance is late: what to do when the buyer needs more time”
Applying for finance through the wrong lender could place you at risk of legal action A recent settlement has highlighted the risks created when buyers ignore the requirements of the Subject to Finance clause on the Offer and Acceptance. In this case, the buyer made an offer subject to finance approval from the ANZ. But, …
A recent call to our office has highlighted the importance to the buyer of paying their deposit on time. In this case, the buyer had made an unconditional offer on a property but, after the offer was accepted, they discovered they would be liable to pay around $25,000 in transfer duty. The buyer panicked. “Do …
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A recent call from an agent has highlighted the risks to buyers when they fail to notify the seller that their finance has been approved. In this instance, the buyer had told the agent they had received finance approval. But, in an attempt to delay settlement, they refused to provide the written notice required by …
Continue reading “How a finance approval letter could cost thousands in penalty interest”