Theo Grigoriou in Beerwah, Queensland | Property

Theo Grigoriou

Locality: Beerwah, Queensland

Phone: +61 400 321 953

Address: Shop 5, 70 Simpson Street 4519 Beerwah, QLD, Australia

Website: http://theogrigoriou.raywhite.com

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24.01.2022 Why do banks and agents value your home differently? Have you ever wondered why your lender will give you one value for a house while the real estate agent has said something completely different? How do you know the real value of a property when everyone is giving different quotes? ... The difference in the two valuations is due to the lender and the agent assessing different aspects of the property’s value the lender is looking at how much to comfortably lend you in relation to the cost of the property, while the agent is looking for a sale price. Bank valuations vs market valuation The property’s market value is the estimated amount for which the property should fetch on the date of valuation, assuming a buyer and seller were to enter willingly into a sales transaction. The bank valuation is the amount that the lender is prepared to lend against the property. How is the bank valuation made? The bank or lender appoints a valuer to independently verify the value of the property. As the property is the asset providing security for the loan, the bank valuation generally tends to be more subjective and conservative, to protect the lender financially in case you cannot pay your mortgage and the property must be sold to cover your debt. While the bank valuation is based on extensive research into comparable properties, it will be lowered when the buyer is borrowing more this is a way for the bank to balance its risk. The bank’s valuer can potentially be held liable if the bank suffers financial loss, so they prefer to make a safer more conservative estimate. The valuer can also advise the bank to refuse the finance application if they believe the buyer has paid too much for the property. Not happy with the bank valuation? If you are dissatisfied with the bank valuation of your chosen property, you have two options request a reassessment of the valuation; or cancel your finance application and start again with another lender. The bank will only do a reassessment if you can provide evidence that comparable properties reflect a higher value than their valuation. You should also check that the market valuation reflects the true market price of a comparable property, as you may find that the seller has overpriced the property. You can hire an independent valuation company to make a market valuation of the property. How is the market appraisal made? The market opinion is assessed by a real estate agent, and establishes the asking price for the home. The agent has a different agenda than the bank’s representative they want to value the property to achieve the highest possible price in the sale. However, they do need to work realistically within the parameters of recent sales and real estate activity in the area. The vendor can receive valuations from several agents when deciding which agent to appoint to sell the property. Whether you are buying or selling, contact us today if you want independent advice about your property.

24.01.2022 Sell or buy first? Which option is right for you? It’s the ultimate dilemma for any home owner planning to move on to a new property do I sell or buy first? You don’t want to sell unless you have somewhere else to live, but you don’t want to buy unless you have the money from the original home. Whichever way you go, there will be some stress involved, so it’s important to look at the pros and cons of each option to decide which is the most suitable and practical for your ...Continue reading

23.01.2022 Top Five Reasons Why Your Loan Would Be Declined It can be extremely disheartening to have your loan application declined, especially if you already have a property in mind. The best response is to treat the rejection as a positive learning experience, and an opportunity to strengthen your financial position so your application will be successful next time. Here we look at some of the more common reasons your loan application would be declined and how you can turn the situat...Continue reading

23.01.2022 Questions to ask your broker 1. What are your qualifications? Before discussing your own finances, check that the mortgage broker is fully qualified to give you professional guidance. As a minimum requirement, an Australian mortgage broker should have a Certificate IV in Finance and Mortgage Broking, and they should operate under their own Australian Credit Licence (ACL) or as a credit representative under another entity’s ACL. ...Continue reading

22.01.2022 => Top ten tips for first home buyers It is a long journey from saving up the first deposit to actually owning your own home, but it is certainly a rewarding one! Your first property is an important financial and emotional investment into your future, so you want to make the most of every opportunity to make your dream home a reality. 1. Start budgeting like a home owner...Continue reading

20.01.2022 Eight tips for New Australians wanting to purchase property If you are new to Australia and looking to establish a comfortable, settled life here, then sooner or later, you will naturally consider buying property, either as an investment or a home for your family. So there are a few things you need to do in preparation for your first property purchase. 1. Find steady employment...Continue reading

18.01.2022 Once you’re settled and financially secure in your home, you might be ready to start thinking about purchasing a second property as an investment. Planning ahead Make sure your first property is secure before looking towards the purchase of a second property. If you are struggling to manage payments on your first property, expanding your property portfolio will not improve your financial position. You will need to demonstrate to a lender that you will be able to manage two ...Continue reading

17.01.2022 Should you sell or buy first? You’re ready to sell your old house and purchase a new home but the big question is: do you sell first or buy first? Whichever one you tick off first, you face the risk of some kind of limbo. The state of the market and your own financial situation can help determine the right procedure for your circumstances. Pros and cons of buying first ... Buying your next property before you sell your previous home gives you the luxury of choosing the property that suits you best and moving house comfortably within your own timeframe. If you purchase early enough, you can move your furniture into the new home, leaving the property on the market uncluttered and available for potential buyers to view. However, this strategy only works if you are in a strong financial position and can afford to hold out for the assets from your previous home. It’s also beneficial if the market indicates that your home will sell quickly. Alternately, you might find it financially beneficial to rent out the original property, making some income from the old home while you settle into your new home. If the first property takes a long time to sell, you could find yourself juggling two mortgages. Bridging finance can help smooth the way if your previous home takes longer to sell than expected. Another financial hazard is if your first home sells for considerably less than expected. Pros and cons of selling first Selling your home before purchasing another property is definitely the most financially prudent strategy. Your funds are available and you know your exact budget for the next property purchase. The stress of selling first lies in the pressure of finding a suitable property to purchase before you lose access to your previous home. House-hunting while your property is on the market can be discouraging because you may see the perfect property sell before you have the funds to make an offer. Once you have sold, the pressure of a short settlement period can result in a hasty ill-considered purchase. Renting in between One option to ease the stress is to rent for the period in between putting your house on the market and purchasing your new home. This gives you at least six months flexibility to sell your home and then search for the perfect property without any anxiety about potentially finding yourself homeless. In order to figure out whether this is the right option for your situation, you need to include the cost of rent for at least six months into your calculations. Even if you do purchase immediately after your sale, you will be required to continue paying rent for the duration of the lease. Seek expert advice An expert such as a mortgage broker can help you make an informed decision by giving you some insight into the current market. You can base your decision on whether your home is projected to sell quickly or slowly, along with your options for purchasing a suitable new property within the desired time frame.

16.01.2022 NOW THIS IS PERFECT

15.01.2022 Ten staging tips to sell your home faster One of the key tasks in selling your home is to make it appealing and memorable to potential buyers when they come to view it. Of course, this is the challenge you want the home to look warm and welcoming, yet you don’t want to overwhelm buyers with your own personal imprint to the point where they can’t see themselves living there. Here are some tried and tested strategies to help you stage your home to make potential buyers think...Continue reading

13.01.2022 Tips to pay off your mortgage sooner Your home loan is probably the biggest financial investment you will make, and you want it to give you a sense of security rather than stress. While paying off your home loan might seem a formidable task, there are ways you can reduce your mortgage, and thereby reducing the interest you pay overall. Make your home loan your priority...Continue reading

12.01.2022 Top Tips for Finding a Trustworthy Real Estate Agent Your real estate investments are arguably the most important investments of your life both financially and personally. You are not just looking for a strong long-term financial return, your real estate investments should reflect your lifestyle choices. So it is essential that you find a trustworthy real estate agent who can help you navigate the market and make the best decisions based on your vision. So how do you find...Continue reading

11.01.2022 How to choose your property manager Many property investors overlook the importance of appointing a trustworthy and professional property manager to oversee all the factors involved in ensuring your property retains its capital value and maximises its income. A property manager does more than simply collecting the rent they need to keep suitable tenants in the property, they administrate all the maintenance and upkeep of the property and they are your direct connection to y...Continue reading

10.01.2022 Why you need a property inspection Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could d...Continue reading

10.01.2022 Top Property Investment Mistakes Property investment is a proven way to accumulate wealth and personal security, although there are many pitfalls if you are unprepared or impatient. The purpose of an investment property is to bring in some kind of return, either through some income from the rent or the increased value over time or ideally, capital gain and ongoing income. Yet many property investors stick with a property that is actually losing them money, and this situation...Continue reading

08.01.2022 Is Debt Consolidation Right For You? A debt consolidation loan combines all your outstanding debts into one, so now you only have one debt at a reduced rate of interest and lower monthly payments than the combined cost of all the consolidated bills. If you have become overwhelmed with multiple debts and you are struggling to make minimum payments on any or all of them, rolling all these into one repayment can be easier and less stressful to manage. Another reason to cons...ider a debt consolidation loan is if you want to focus on paying off a mortgage. By lumping all your other debts together, you can simplify repayments, and enjoy the benefits of a reduced interest rate. This gives you more funds to channel into your primary debt, increasing your equity. Reassess your current loans Before securing a debt consolidation loan, you could investigate whether switching your home loan would be beneficial. If you can find a home loan with lower interest and lower fees, you could channel the savings into repaying your debts. As your property is your primary asset, it is important to protect this asset while you reduce your debt. A credit card balance transfer where you move credit card balance from one card to another gives you access to a honeymoon period where the new card has lower interest for a certain time period. While this can be helpful if you can pay the debt off promptly, it can also aggravate the situation. Negotiating with individual creditors might help you buy some time or even reduce or cancel the debt. Double-check the figures Before signing off on a debt consolidation loan, check that this is actually the cheaper option. The loan is meant to reduce your overall costs and interest rate, so make sure this is the case. Avoid any honeymoon deals where the interest jumps drastically after a certain timeframe, as you don’t want to dig yourself deeper into unnecessary debt. Set up a budget You don’t want to start collecting additional debts on top of the consolidation loan, so stick with one credit card for emergencies and set some strict limits on your spending. Make it your priority to reduce this loan. If necessary, speak to a financial counselor to discuss any issues you have in relation to spending. Make regular repayments Just because the original creditors have stopped bothering you doesn’t mean the debt has been wiped clear. Focus on paying off the debt within a realistic and efficient timeframe with regular repayments. By reducing all your other debts, you can focus on paying off your home loan, as this increases your equity and improves your overall financial position. Talk to a financial advisor A good financial advisor can help you decide whether a debt consolidation loan is the right strategy for you. If you are determined to reduce your debt and increase your equity, debt consolidation can be an efficient and effective option.

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06.01.2022 Five Reasons why you need a Mortgage Broker For most people, buying a home or an investment property are the biggest financial investments of their lives. A mortgage broker can help streamline the costly and confusing process, while saving you valuable time and money. Here’s how: ... Simplifying the home loan process While this is an overwhelming first-time experience for you, your mortgage broker can efficiently guide you through the entire process, from the application to the property settlement. With their assistance, you can handle all the complexities of paperwork and legal details. They can also give you the right advice to ensure your application is approved promptly. As a result, you have the peace of mind of delegating the process to an expert who will keep you informed every step of the way. Fast comparisons With so many banks and lenders offering different deals, it can be difficult to figure out which is the right loan for your situation. While a bank will only promote their own products, your mortgage broker has the experience and the contacts to compare a wide range of lenders and products, to identify the right package for you, based on your individual situation. They can decipher the financial jargon for you and explain the pros and cons of various home loan features, so you can confidently make an informed choice. Direct service As your mortgage broker regularly works with various lenders, the application process can be several days faster than going to a bank directly. Best of all, you are dealing with one point of contact, rather than whichever member of the bank’s credit team takes your call. This gives you the benefit of securing the loan features that are best for you, based on your circumstances. Better value from your property investment When an expert oversees your choice of loan, you reap the long-term benefits of better interest rates and the right flexibility for your personal situation. The right loan can take years off your mortgage while cutting down your interest payments. In comparison to the significant savings, the cost of a mortgage broker’s fee is negligible. In the US and UK, mortgage brokers charge around 1-2% of the total loan, while in Australia, mortgage brokers are paid by lenders so there is no cost to the client. Specialized assistance If your situation is a little more complex than a standard home purchase, a specialized mortgage broker can help you through the process. Whether you need assistance with property investing, commercial properties or a hobby farm, there is a mortgage broker who knows exactly how to help you. There are also mortgage brokers who specialize in assisting people with individual challenges that might deter lenders, such as bad credit, non-residential status or contract employment. For more information about securing the right loan for your circumstances, contact your mortgage broker today.

04.01.2022 Top Property Investment Mistakes 1. Emotional investment When you are choosing an investment property, there is no such thing as love at first sight. If you make an emotional investment before you have done your research into the location and the rental potential, you are at risk of making an extremely expensive mistake. Investors who let emotion rule their decision-making are far more likely to over-capitalise from the beginning, making it even more challenging to ensur...Continue reading

04.01.2022 Quick tips for working out a property’s market value When you are searching for the perfect property, it can be challenging to work out exactly how much you should be paying. Rather than relying completely on the word of others, you can develop your own strategy for valuing a property, so you have a better independent idea of how much it is really worth. 1. Make a comparison search... Property sales are in the public domain, so you can research your chosen area and make a list of five comparable properties that have sold within the last six months. To ensure the properties are comparable, make sure they are within a kilometre of your target property, and that they have similar features, such as the same number of bedrooms, bathrooms and car spaces, and a similar land size. Also make a note if any property has additional features such as a pool, or whether it is more conveniently located in relation to amenities such as schools and transport. Do not include properties that have not yet sold, as the advertised price is not a true indication of how it will sell. 2. Rank your list Once you have a short list of comparable properties including the one you are planning to sell or buy, rank each property in order from Most Desirable to Least Desirable. Try to be objective in this exercise, looking at the land size and location, rather than whether you prefer one garden to another. Proximity to schools is a plus if you are valuing a three or four bedroom home, but less of a concern for a one or two bedroom home. Buyers tend to be drawn to properties with newly renovated kitchens and bathrooms, so keep this in mind when ranking your properties. Your ranking from most to least desirable might not tally with the ranking from most to least expensive this will give you an idea of what features are important to people buying into the area. 3. Adjust for market movements Now you have placed your target property within a list of five comparable properties so you can see where it stands in the price range between the most expensive and least expensive properties. However, the market may have shifted within the last six months from hot to cold or back again, since the first property was sold, so you will need to adjust for current market conditions. Once you have adjusted, you should have a clear idea of how much your target property is currently worth, based on its place in your ranking list. 4. Check your figures You can back up your research by checking the median house price for the suburb in question. The Domain real estate website will also show the discounting percentage for a specific area, which is the average discount below the agreed listing price. For example if a house listed at $1 million sold for $900,000, then the discounting percentage is 10%. Contact us today if you need assistance assessing the value of a particular property.

03.01.2022 Tips for first home buyers Buying your first property can be a bewildering experience, and there are any pitfalls that could lead to potentially expensive regret. With careful research and financial management, you can buy the right property for your needs while establishing a sound financial investment. Start small and think long-term... Property appreciates in value and the toughest part of the journey is actually making that first step into the property market. Rather than having your heart set on a waterfront mansion, think small for your first purchase look at for a property you can afford more easily, which will work as a step up towards something more aspirational. Your small property will increase in value while you build equity, and this is the ideal foundation for a valuable property portfolio. Calculate how much you can afford to invest It can be tempting to spend a little more on the best property, but realistically, you want to stay within a budget where you can gradually build equity and increase the value of your investment. Your circumstances can change over the long term, so you want to calculate conservatively, based on what you can afford to pay off. Saving for your deposit is an excellent practice run to calculate how much you can afford to spend on mortgage payments each month. Best of all, while you are saving, you can’t fail! If you find that you have over-estimated, you simply need to reduce your monthly savings, while you still have a growing deposit. Save a substantial deposit The bigger your deposit, the more flexibility you gain you will have more options for attractive home loan rates, you will have a wider range of choices when purchasing and your repayments will be easier to manage. Do your research When you find the right property, start by researching the market value of the home. You may be able to negotiate the price down, if you know that other comparable houses are priced lower. Also research any council plans for the area, and other logistical aspects of the property, such as proximity to public transport and shops. Most importantly, request a property inspection to see if there are any issues regarding structure, water or electricity. Some issues might give you some leeway to renegotiate the asking price, while other issues might have you reconsidering the purchase due to potentially expensive repairs or dangerous living conditions. Seek financial expertise Talk to a financial expert, such as a mortgage broker, to establish the best loan package for your needs and to help you navigate all the legal and financial paperwork involved in purchasing a property. The right home loan can make a huge difference by reducing the amount of interest you need to pay over the long term and helping you pay your loan off faster.

02.01.2022 Sharing a little bit of motivation for the day

01.01.2022 Finding the right property for you Property-hunting is a stressful exercise you are embarking on one of the biggest financial investments of your life, and you know you’ll have to live with your decision every day. Yet too many people rush into a property purchase, only to feel financially trapped in an unsuitable choice. The problem is that many properties on the market are presented in an attractive and appealing way, prompting you to make an emotive impulse decision. Yo...Continue reading