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29 Thackeray Quadrant, Avondale Heights VIC 3034

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Summary: A very classical looking house in a very established location. Location wise you have the neighbour of Highpoints and DFO. It is also close to Freeway and the Airport. There is quite style look inside as well, with a ‘display case’ and the lovely wooden ceiling. Contract wise there is not much concern, but perhaps strong bidder that make you lose out. Traffic may be difficult during peak hours.

Contract Review: 29 Thackeray Quadrant, Avondale Heights VIC 3034

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 Paul Filippone: 0400 155 110
Mr Jordan Mahch: 0404 662 234

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: $1,050,000 to $1,150,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Avondale Heights? Which is DFO and Highpoints neighbours. Look like you manage to find a classical looking house. From the photo, most likely it is original build, but there is a few concern, in the Kitchen/Dining, what is that wall? It look like an un-finished wall? But now converted into a case display, which is rather stylish and make it like it was intentionally designed. In the kitchen, there is a big ventilation fan over the stove, this look like the Owner install later, remind me of Pizza Fire Stove. Beautiful wooden ceiling, most house don’t do this nowadays anymore due to cost, the Clothes hanger is rather odd location, either it got move to here, or they added concrete later.

Kitchenette behind the garage seem be added afterward, it hard to tell since there is no photo and only floor plan.

Personal experience, the traffic during peak hours here is not to my liking, but this is normal for this area, it show that it is populated, and there is also local shop and nightlife.

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:
The Vendor kept the conditions fairly standard without too much concern.

Based on the photo and the floor plan 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

  1. Property seem to be approximately 40 years old. Look like the property is owner occupied, in most case Owner take care of property better than non-owner-occupied.
  2. Services Availability: All except Telephone, usually there should still be Internet/NBN service in replace of Telephone.
  3. The property was plan was in 2006. The current owner, aside from owning the bank Home Loan, also own a personal loan with one party in 2019, furthermore this property is recently is being taken for sale under a Warrant/Sheriff. This mean that this property must be sold otherwise further legal action will take place. The Vendor will most likely do not have much of a choice of “Reserve Price”, and the property is “On the Market” with any bid the public can offer.
  4. There is an easement on the property at the back. Corner block property, there is a very small easement on the property, lucky you. Your neighbour got the full easement, unlucky for them. There is a reverse opposite side of the house, what is that? Look like a bike trail, it pretty good to have as other street side neighbour! This where water pipe is usually install.
  5. Land size is approximately: 650m2, good size, may be able to build 3-4 Townhouse here if you are an developer.
  6. This property is a Neighbourhood Residential Zone. Although Neighbourhood give less freedom compare to General Residential, it however is much more stylish.
  7. It also contain 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.
  8. 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.
  9. Council rate is estimate to be $2600 yearly, which is high but considering the landsize and the value of this property it is quite standard.
  10. Water rate is estimate to be $680 yearly. Quite standard.
  11. 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: $1500
  12. 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.
  13. The power is being sold by the owner son under the Power of Attorney, this is not much of your concern, perhaps it is due to the Owner age or time schedule.

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

 

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