Archive for the ‘Real Estate’ Category

Foreign Buyer Tax Must Go

On the lazy pretext of “everyone else is doing it”, the
McGowan government introduced a new tax on foreign buyers of property as a way
of raising additional revenue. About $123 million is expected to be raised over
the forward estimates by charging foreigners an extra 7 per cent transfer duty
on top of the original stamp duty normally payable. This extra revenue was
designed to off-set any raises in TAFE fees which, … Read the full post »

Choose your Agent on their Merit

When the time comes to
sell or lease your property, would-be vendors and landlords increasingly look
to the internet to help shortlist agents that might meet their needs.

Well established
methods of choosing your agent such as re-employing an agent previously used,
adverts in the Herald, recommendations from friends and relatives or visiting
Home Opens to meet agents remain effective methods.

In the on-line space,
REIWA offers reiwa.com … Read the full post »

Getting Back Your Bond

When taking on a residential tenancy, the owner normally requires the tenant to pay a security bond equivalent to four weeks’ rent. The law forbids owners from requiring an amount higher than this figure but it is not mandatory that one be paid.

The bond must be paid to the government run Bond Administrator as soon … Read the full post »

Pre-Purchase Building Inspections

Almost invariably,
buyers of an established residential property seek to include in their offer a
clause that protects them from unbeknownst building defects.

This is fair enough
although buyers need to be aware that the pre-purchase structural inspection
condition used by REIWA members is limited to that which is contained within
Australian Standard AS 4349-2007. The standard is designed to identify structural faults only, expressly
excluding building elements such as roof … Read the full post »

Playing the Renting Game

By Hayden Groves –

Last week’s front page of the Herald featured Steve Grant’s, “The roll of the dice”, a story about an emerging entrepreneur who’s invented a card game premised upon her experiences as a renter. According to Steve, the game is designed to highlight “WA’s unfair tenancy laws” a sentiment supported by Fremantle councillor Rachel Pemberton.

Cr Pemberton is co-ordinator of a … Read the full post »

Going it Alone

By Hayden Groves  

When deciding to sell, some property owners choose to undertake the task of promoting and selling privately without the assistance of a licensed real estate agent.

Often, the motivation behind such a decision is premised on the sellers’ view that real estate agents’ selling fees are excessive and the rhetorical question, “how hard can it be?” However, less than one per … Read the full post »

The real cost of Real Estate portals

There’s little doubt that digital advertising of real estate is the preferred method consumers use to search for a property to buy or rent. In Australia, about 70 per cent of all properties that come to market find themselves listed on a web portal. This is extraordinarily high compared to other countries where in the USA, for example, less than 5 per cent of properties are listed on publicly accessed … Read the full post »

Use a Mortgage Broker

I read a stat the other day that quoted 60 per cent of all home and investment loans are completed by mortgage brokers. I assume the remaining 40 per cent of people go to their bank directly. The community’s preference to use a broker to assist them in choosing the right bank and loan to meet their needs seems clear.

The Hayne Royal … Read the full post »

How to Buy

A recent dealing with a buyer we met several months ago got me thinking about how buyers typically approach negotiations when buying property. Most are tempted to eagerly point out the property’s apparent – and often obvious – faults. Buyers often “talk down” its benefits and highlight its shortcomings in an apparent precursor to justify a lower-than-reasonable offer to purchase.

Pointing out a property’s … Read the full post »

Purple Bricks Packs its Bags

Budget real estate service model Purple Bricks has announced this week that they are winding up their Australian operations. This is welcome news for consumers of professional real estate services no longer to be lured by an extensive marketing campaign that denigrated traditional real estate agents, promised “no commission” and claimed outstanding results. The news comes after months of grandstanding claims that they were expanding their Australian operations and were … Read the full post »

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