East Coast Conveyancing | Consulting agency

East Coast Conveyancing

Phone: 1300 327 826

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25.01.2022 Don't get gazumped! What in the word does that mean? "Gazumping" is essentially the practice of driving the purchase price of a home higher - which is great for a Seller (they're trying to get everything they can for the most important investment of their life after all, even if it's the next 'most important' investment), but can be turbulent for a buyer. "Gazumping" usually takes two forms: 1. An intending buyer makes an initial part deposit or payment and begins to arrange ...finances and get all things in order to exchange contracts, only to find the Seller has run off with another buyer. Bear in mind, a partial payment is a sign of good faith, not a legally binding agreement. 2. The Seller or Real Estate Agent accepts multiple initial deposits and begins a bidding-war as if it were an auction. Again, the Seller wants as much as they can get and these tactics are legal. Now that you know, you also have a great synonym for 'swindle' and an excellent word for your Scrabble Board.

24.01.2022 "Apartment buildings across Sydney are steeling themselves for an influx of furry friends after the landmark NSW court ruling that outlawed blanket bans on pets."

22.01.2022 As people relocate from the inner city to wide open spaces and less congested beaches, properties are becoming available in coveted locations driving competition for sales and rentals, with one particular terrace receiving a massive 42 contracts!

22.01.2022 This year marked a mild property downturn due to the coronavirus-led recession, but looking ahead 2021 is shaping up to be a positive year for property with a sharp recovery on the horizon.

22.01.2022 "Only four months since it opened, there are just 363 places left across the country out of the 10,000 spots released at the beginning of this financial year as part of the federal government’s First-Home Loan Deposit Scheme."

21.01.2022 Moral of the story: in such a competitive market, don't be afraid to be creative and embrace available technology. Brisbane auctions: New Farm unit sells to couple bidding on WhatsApp while en route to Cayman Islands.

19.01.2022 "Hopeful first-home buyers are now responsible for around 90 per cent of their inquiries about new apartments, a massive increase from their 15 to 20 per cent share last year, one of the top agencies in Australia has revealed."

18.01.2022 The RBA governor has ruled out an early rate rise, but said he would be concerned if people borrow ridiculous amounts as house prices rise.

17.01.2022 Friendly reminder - when looking to purchase a home make sure to submit a formal loan application to your lending body AS SOON AS POSSIBLE to keep the process moving quickly (and perhaps even avoid getting 'gazumped' - see our post from 16 December for a definition). Also crucial, make sure your finances are approved IN WRITING before exchanging contracts - with or without a cooling off period. And remember, lending bodies don't lend a percentage of the purchase price, they lend a percentage of the valuation of the property, and there will be other fees that need to be covered outside the valuation.

17.01.2022 Amelia Brayley practices in family law, property and children, estate planning and administration, and conveyancing. We asked her what she loved about these different sides of her career. "I love the interpersonal aspect of these areas of law. I’m able to engage directly with my clients while working on their matters. The three areas I practice are interrelated and very much walk hand in hand with each other. Due to this, I am able to continue a multifaceted working relationship with my clients throughout their lives".

17.01.2022 Buying a property is one of the most significant financial decisions you’ll ever make in your lifetime. Pre-settlement inspections can help you make an informed decision and save you in the long run. Not sure what inspections you need? Check out our latest blog.

12.01.2022 According to @realestateau, "December 2020 marked the fifth highest month on record for new home enquiry on realestate.com.au." This is despite slipping -9.9 per cent over the month. "Last month there were 88 per cent more enquiries sent to developers than in December 2019, signalling the high level of interest in new properties."

12.01.2022 We here at East Coast Conveyancing are proud of the culture and environment we provide for our employees and clients.

11.01.2022 It's an age old decision for home buyers - location or land - if you can't have both, that is. This year saw a reversal of an 11 year trend with the average size of a newly built home being 235.8 square metres, up 2.9% year on year.

11.01.2022 COVID-19 has seen first homebuyer activity reach record levels with the demographic now buying 40 per cent of all homes, but experts warn things may soon change.

11.01.2022 There is some very welcome news about the housing market. Insights from realestate.com.au indicate the positive trend of price growth, particularly for houses, will continue as 80% of houses in Australian capital city suburbs are experiencing price growth.

11.01.2022 Worried about buying or investing in property in January? Find out why this traditionally quiet time can work to a buyer’s advantage

10.01.2022 Buying a home is likely the largest purchase you will ever make, but there's no reason to pay more than you need to. If you're a first home buyer, here's a helpful article from Realestate.com.au which lays out concessions available to first home buyers state-by-state.

09.01.2022 Consumer sentiment has rebounded rapidly as lockdowns have ended while COVID-19 case numbers have fallen and borrowing costs have reduced. This can only bode well for Australia’s property sector in the lead up to Christmas and into the New Year.

08.01.2022 You've spent hours on realestate.com.au and Domain, finally found your dream house or investment property and you're ready to make an offer. Once you make an offer, it's not uncommon for the real estate agent to ask you to pay an initial or part deposit as a sign of good faith. Be aware, this payment doesn't 'hold' the property if you haven’t signed and exchanged contracts, and the payment is refundable if you change your mind. That also leaves the door open to other buyers, and if one exchanges contracts before you, you may miss out - so make sure you have your finances in order. Your Conveyancer can can make arrangements for you with the agent to exchange contracts with a five day cooling-off period in order to secure the property.

05.01.2022 This article from realestate.com.au considers the different factors that can still benefit first-time home buyers and highlights that it could be the optimal time for investors.

04.01.2022 Is the preparation, aggregation, verifying, signing and storing of documents what makes you love buying or selling a home? We didn't think so, but no worries, we've got you covered. From requisition, mortgage and lease documents right through that final settlement, we know what you'll need, when you'll need it, and how it affects you on your selling or home purchasing journey. Whatever your journey, we're there to lend a helping hand.

03.01.2022 Planning to sell your home? It may seem elementary but remember you must have the Contract of Sale ready before offering a property for sale, and you will also need to provide the following alongside the contract: a Section 149 certificate from your local council, detailing zoning and other information a sewerage diagram a copy of the title folio from the Land and Property Information... copies of all documents creating easements or restrictive covenants a cooling-off statement a notice directing parties to the Conveyancing Act 1919 (Section 52A) and the Conveyancing (Sale of Land) Regulation 2000 if it is a strata unit, copies of the folio of the Register for the lot and common property and a copy of the strata plan. If this information is not attached, potential buyers may be entitled to cancel the contract within 14 days of exchanging. They may also reserve the right to cancel if you, as the seller, breach certain warranties required by the Vendor Disclosure and Warranty Regulation.

01.01.2022 Professional Services such as Conveyancers and Real Estate Agencies have been helping make the process of property sales simple and smooth for ages. Now, Technology are making it easier than ever for both Vendors and Buyers. "Hybrid-Auctions" allow vendors to host in-person and virtual visitors, growing the available buyer pool and helping them fetch the best price for their home.