39 Wellington Street, Mernda VIC 3754

Summary: A relatively new estate in the suburb of Mernda, north of Melbourne CBD. This property may be eligible for the full 1st Home Buyer concession depending on the sale price. Contract wise the property is fairly standard with less than a decade in term of age, it modern design and open space can only be found in newer estate like this.

Contract Review: 39 Wellington Street, Mernda VIC 3754

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 Dhaval Chitnis: 0422 073 491
Mr Sugath Warnasuriya: 0422 577 353

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

Disclaimer: We are the Conveyancer who prepare the Contract, however we will review in the neutral stance as much as possible.

Personal Thoughts

Looking at the suburb I thought it would be quite far away from Melbourne city, looking at map however indicate otherwise. It is right next to the suburb of Epping, South Morang and Doreen. Next to it is Wollert which is currently rapidly developing with Land being title. But unlike Wollert, Mernda have house that is already build so you can just move in or rent it out as investment. One advantage buying in area such as this is since house been build there is less likely construction noise nearby and dust making your windows dirty again after a nice afternoon cleaning.

Now in relation to the contract.

General Information & Terms and Conditions

This property is being put up for Auction, you may lose your Cooling Off rights if purchase at Auction, furthermore contract will be unconditional so you can not buy it subject to finance.

Special Conditions:

Fairly standard, however attention need to be bought toward Special Conditions 9 in relations to default. Should there be no Defaults then these fee does not apply. One example of Defaults would be late deposit, or late settlement.

If purchase this not at Auction, we recommend to request for “All appliance to be in working order” as you may not have time to check all appliance. And to ask for 14 to 21 days finance.

Vendor’s Statement / Section 32

  1. There is a covenant in the property, however it is expired and of no longer concern.
  2. Land size is approximately: 300m2, quite standard size, majority of the neighbour is the same size.
  3. Council rate is estimate $1500, fairly low.
  4. Water rate is estimate to be $800 yearly. Quite standard.
  5. This property is a General Residential Zone, there is also Vegetation Protection Overlay and Aboriginal Cultural Heritage overlay.
  6. There is an easement on the property at the back. This where water pipe is usually install.
  7. This property is NOT in Bushfire Prone Area.
  8. 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. This is usually payable on Finance due date.

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”. This depend on your circumstance but if the property is empty the Vendor will usually want to settle as soon as possible.

Please note you usually have 3 business days cooling off, in which you can cancel the contract, however penalty may still apply.

Thank you. Yours faithfully,
Ocean