OzFree Online Real Estate

In Australia, conveyancing procedures vary from state-to-state. Buying real estate property involves legal paperwork, inspections, finance and mortgage arrangement and purchase price settlement.

It is fairly easy to understand the process if you have time to study all the legal requirements. However, as a real property buyer, there are a lot of concerns that you also need to take care of. This may include putting together the money for downpayment, arranging for the transfer of your address, setting up the utilities and moving everything you own. As such, it is advisable to get a solicitor or a conveyancer to help you out with the closing of the real estate property purchase.

Additionally, solicitors can help you out with more complex real estate purchase transactions. Some do-it-yourself conveyance kits are available in the market, but it does not replace the service of someone trained to deal with such proceedings. Don’t be surprised if a simple transaction also gets complicated because of legislations and regulations that may affect the purchase of the property.

The following are some of the legal paperwork involved in a real estate purchase:

• Contract note or Contract of sale – This is prepared by the real estate seller’s solicitor. It has the property information (including the exact address and property type) as well as the settlement date.

• Certificate of Title – This confirms the ownership of the real estate and any liens or encumberances it may have that can affect the sale of the property.

• Land transfer – this is the final document that comes after the settlement procedures.

• Inspection documents – although not really a required legal document, it is ideal to have property inspections prior to the purchase. Hiring professionals to check on the stability and any faults in the real property is a benefit for the buyer. An example of inspection documents would be for pest inspection and for building inspection.

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If you’re planning to buy a home, there’s more to it than just figuring out your budget. A pre-purchase checklist is always an ideal item to have even before you consider a real estate purchase.

Here are some questions you can ask yourself before buying your first home:

• Is this home for yourself or for your family? The size of the real estate you should buy depends on your stage in life. If you are single and would like this to be your first real estate investment, then a flat or a one-bedroom home should be good enough. However, if you are in a relationship and currently contemplating having children, then you might need more rooms in your home. Read more…

If you’re selling your home in Australia, there are some strategies you can follow to get the best returns. Even in a down market, home sales can make good profit for owners. The first thing you need to do is set your selling price. Your agent should be able to provide you with a list of properties selling in the area. You get the ones with the closest specs and use these as benchmark for your price. In addition to having a set selling price, you should also consider possible negotiations. If you don’t get an offer for the price you want, you need to know how low you’re willing to go.

As a selling strategy, you need to work with your agent in putting your real estate property in the best possible light so that it attracts the proper buyers. Make an initial list of what needs to be highlighted in the property and include this in your real estate listing? Is it the good location? Is it close to schools? Is it the hardwood floors? Is it the number of available parking spaces? Read more…