22 Goldstone Grove, Aintree VIC 3336

UPDATE: WOW! Sold for $741,000

Summary: Newly develop house, in a new estate. With the modern open space design and facility that you can only find in newer property such as ducted heating. Age wise the property is most likely 6th years old, same is true of your neighbours. Buying here have it advantage and disadvantage, one example would be it is new, location from the Melbourne CBD might be an issue for some home owner. With the currently price, First Home Buyer might not benefit from First Home discount. The Council property value is quite high at the moment, which is good, but it also mean higher bill. If you win the auction, perhaps you can have dinner at the house as Auction is at 5pm.

Contract Review: 22 Goldstone Grove, Aintree VIC 3336

Disclaimer

Please find below is Ocean’s Contract Review from the Section 32 and Contract of Sale for this property based on documents we have received, please note that this is our opinion only and further question can be inquire with us or your Conveyancer. If you have any question outside of the Contract, you should contact the real estate agent:
Mr Leigh Grixti: 0414 098 557
Ms Sarah Azzopardi: 0403 475 002
Auction: 1st of August 2023 at 5:00pm.

Please call us, message, visit or email us if you have any further inquiry regarding Contract or Property Laws.

Currently the agent valuing this property between: $670,000 to $730,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Nice hardwood flooring texture, most flooring is quite plain style looking, it is rather odd that the kitchen have hardwood flooring instead of your typical tile however. Kitchen bench top have a small area of dining which is rather convenient. Lovely style of kitchen splash back as well. Nice pergola out at the back, pit that only gravel is on the ground instead of decking or more sitting down friendly of some kind. Unfortunately there is no floorplan so I can’t comments on the 2nd living room or “Master?”. Look like the current tenant isn’t using all room and using some for their home-office and study.

Now in relation to the contract.

General Information & Terms and Conditions

Noted: If purchase at Auction, you may lose your Cooling Off right, Deposit need to be ready on the day, Term and Conditions may not be negotiable.

Special Conditions:
There is a few payable fee that should be remove if possible, such as SC.5(v) which you will be charge $120.00 for any change in the Contract, whether it is minor change like a letter in your name or missing a middle name as per bank requirement. There is also fee for rescheduling of settlement as well.

Based on the photo of the property, it also does not seem to have any concerning issue, however we still recommend to have a thorough look at the property, take lots of photo to avoid dispute of what was or was not damage. If in doubt, a Building Report can be arrange prior to Auction.

If possible prior to bidding, to negotiate for “All appliance to be in working order” as you may not have time to check all appliance.

Vendor’s Statement / Section 32

Services Availability: All except Telephone, usually there should still be Internet/NBN service in replacement of Telephone.
Look like the Vendor is currently living in the property, in most case Vendor tend to look after their property best. They own the property for possibly 2 years now.
There is an No easement on the property at the back, unlike your neighbour across the street which have them. This where water pipe is usually install.
Land size is approximately: 448m2, average compare to most of the neighbours in the street.
There is an occupancy permit for this property, which was complete end of 2017, so age wise it is approximately almost 6 years old. They also build with Sherridon Homes, which is quite a reputable builders. Build cost was $260,000, consider the same building in this current market you probably be looking at $330 to $350,000 to build the same property.
This property is a Urban Growth Zone. Which pretty much mean, expect lots of house development in the area.
It also contain (slight) the Aboriginal Cultural Heritage and a few other Plan restriction, as the property is already build this won’t be too much of concern not unless you plan to extend or build. Eventually this zone will most likely cover the whole land.
This property is NOT in Bushfire Prone Area. There is a water area nearby; a river/creek. What nice about Cairnlea is there is many park and reserve area, personally I have not walk very much of the trail but do see quite a few residents using the trail.
Council rate is estimate to be $2200 yearly, which is quite standard considering the landsize and the value of this property. Personally I felt that this is high, but then you look at the current council value, it is $670,000. Usually Council value is much lower than the market value, so if you are able to buy this below the $700,000 range it is quite good deal. Keep in mind that if you are buying this as First Home then after $600,000 you will only get discount instead of the Full Stamp Duties (Tax) saving.
Water rate is estimate to be $750 yearly. Quite standard. Keep in mind that City West Water and Greater Western Water have merge, so you might be one of those lucky one and save ~$70 for yearly rate.
If you were to buy this property as Investment, it currently Landtax is unknown, this documents is not included in the Statement. We advise to request for a Certificate. Based on estimation it could be: $1400.
The property is not subject to Lease, purchase will be vacant possession. If you are buying this for investment, we can refer you to a property manager to assist you.

In relation to signing the contract:

Particular Page 1: Your full name should be the same as your Passport name, also to include the phrase or wording, “AND/OR NOMINEE” at the end. For example: “Ocean Nguyen AND/OR NOMINEE”.

Particular Page 2: If you choose to take on our services, please include the following details under the “Purchaser’s Legal Practitioner or Conveyancer” section.

Oceantralian of Suite 10A, 100 Furlong Road, Cairnlea VIC 3021
Tel: 0479 126 326
Email: admin@oceantralian.com

Particular Page 3: Payment. 5% to 10% of the deposit on the day of signing, as this is an Auction via EFT or Bank Cheque. You may be given a few days (till Monday if on Weekend) to organize for the remaining balance.

Particular Page 3: Settlement time: standard time for settlement is within 90 days of signing contract of sale. You may also add in the phrase or wording, “90 days OR EARLIER”. However most Auction terms will be between 30 to 60 days.

Please note you usually have 3 business days cooling off, in which you can cancel the contract, however this does not applies if this is purchase at Auction.

Thank you. Yours faithfully,
Ocean