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At Caputo Lawyers, our best advice to anyone purchasing property is Preparation is Key!
There are many steps to get yourself in the best possible position to secure the property you want.
“Who you choose will make a difference”
In an article for the website Property Observer, Jessie Richardson talks about buying properties which already have tenants on board. While running rental income and advertisement savings are clearly the upsides of a property with existing tenants, there are a few downsides you should be prepared to counter, too.
You can barely revoke a lease agreement and this can be a problem if you have owner-occupancy in mind. Miss Richardson also talks about the dubious penchant of sellers to give out their property on rent a few weeks before selling it off, thus presenting a picture of an easily rentable property.
Agreeably, it is a great lure for investors and thus they should clearly conduct their Due Diligence before buying a property with existing tenants. Prospective buyers should also talk to the property managers and discuss the status quo as transparently as possible.
You can read the original article here.
If you want pointless answers just ask wrong questions; this kind of sums up a saying in the Oriental world. If you are on a property hunt you will do well to ask your real estate agent as many succinct and ‘just right’ questions as you can. Invariably, you will find the right answers flowing from them.
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You have bought a new home and what remains is completing the formality of moving house. Great! Days of fervent anticipation I must say! This said, it is also a time marked with frenzied activity. There is so much to finish in terms of conveyancing and the legal protocols take quite some doing.
Rope in a competent conveyancer or solicitor who can help you with reviewing the conditions of the sale contract, going through the pre-inspection settlement, conducting Title searches and paying all the relevant fees; including, but not restricted to, Stamp Duty, Registration and Inspection fees.
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Do you know that Superannuation does not fall within the arc of your Will? Instead, you have to prepare a Binding Death Benefit Nomination to ensure that your death benefit (from Superannuation) is passed as you would have liked. Likewise, there are so many other things that are outside a Will’s operation. Take Company Assets and Family Trust Assets for example. Knowing your will and preparing it intelligently is the key. In fact, you should buy or sell your property keeping the Will in mind too. Here is why?
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We are called social animals because we know how the collective conscience of a society operates. This begins from the most immediate society, our family, and extends to the concept of global citizenship. You have got to keep your social etiquettes at their very best while dealing with your neighbours too. Here is why?
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You like a home and agree to pay the purchase price asked for. You rush to the bank, looking to borrow the money required to seal the deal. The bank welcomes you and asks you to wait for the property valuation from their side. So far so good!
Now here comes the blow- the bank values the property far below the agreed price and tells you about it. What happens next?
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In the good old days, couples would go to places where homes where being sold. After searching in a number of areas they liked, they eventually found their “dream house.”
A price would be agreed on between the buyer and the seller, a contract would be drawn up, and the house is sold.
As much as anyone would want it to be as simple as that, in today’s home purchasing market, there is now a real estate agent to ask you about a conveyancer.
A what? What’s a conveyancer? How much does it cost to get one? Do we really need a conveyancer? You suddenly realise buying a house can be complicated.
A common question many home buyers often ask is what happens after an offer is accepted on the property they want to buy?
Because there are so many things under the law to watch out for as well as paperwork, so buying a house is not as simple as counting to three. Many wish it so, but it is not. [Read more…]
The interim between buying a property and receiving its keys is marked with pleasant anticipation and there is a good reason it should be this way. Just think of Faulkner’s deep yearning when he uttered “How often have I lain beneath rain on a strange roof, thinking of home” and you will get a feeling how precious one’s own home is.
Lest I deviate, let me address an important question first- “When can I receive the keys for my new property?”
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