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

Summary: Will require lots of renovation if you planning to live in, alternatively it is more suitable for long time investor or development by building new house on it. These type of Shop out front and house in the back will become rarer and rarer, a pity as it was always fun visiting the ‘milk bar’ nearby. Contract wise the Landtax is highly recommend to remove, however this must be negotiate prior to auction.
UPDATE: Wow sold at auction for $1.2m by a knock out bid!

Contract Review: 40 Commercial Road, Footscray VIC 3011

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 Caleb Venneri: 0459 626 066
Mr Christy Liden: 0431 110 993
Auction: 2pm on the 5th of August 2023

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: $1,000,000 to $1,110,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Commercial Rd but it not a commercial property, how misleading 😊! That is until I see the photo of the property, it indeed does look like a Commercial small shop many decades ago, there is only 3 photo so I can’t really comments much but it does look very old and is not in a livable conditions. You would only want to buy this for the Land to sell in the future or to build new house on it. Couple of door down, I see an interesting looking house, 5-6 car park spot, is that a commercial property?

Location wise it quite good, Victoria University, Footscray Shop, if you like the Melbourne Cup horse racing, not too far from Highpoints and a very big and nice size Footscray Park.

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:

Quite standard, however there is a $330 for reschedule of settlement date, $880 if we are in default.

However SC11 is dangerous if the owner own many property, especially if he own many in area that have similar value like Footscray. You should change to this a “Single Holding” instead of Proportional.

SC12.3 is rather funny, I’m not sure if they will actually enforce it. You will get charge if you make any changes after completing Duties Statement, for example let say you change your phone number, or residential address, you will get charge $88. Rarely do we come across this.

As there is no photo of the back property (house), we not quite sure of the conditions, 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.

Vendor’s Statement / Section 32

1. There is no Gas supply, that is rather odd considering it is Footscray. So if you want Gas you will need to connect to the property, which can be costly. However with climate change issue at the moment, the government don’t like install Gas and want everyone to use Electricity.
2. There is no easement on the property at the back. No Easement at the back, lucky you. Usually the water pipe is there, look like your neighbour have it… considering this, the council may force you to have one.
3. Land size is approximately: 597m2, good size, may be able to build 3-4 Townhouse here if you are an developer.
4. This property is a General Residential Zone, lucky, so you can build house on it. But if you want to do it like Commercial+House like the original property it will be more difficult now.
5. This property is NOT in Bushfire Prone Area. There is a water area not too far away. I often see boat and fishman using this river.
6. Council rate is estimate to be $3500 yearly, – wow it is high! But it quite standard for property in Footscray. The council valuing it at $1,200,000 already, my personal prediction this probably will probably go for $1.5m as a minimum. The opening bid will determine the final price. The owner have quite a high Council Arrears, considering their age perhaps they just overlook it. But this is not of your concern, they will have sufficient money at settlement.
7. Water rate is estimate to be $680 yearly. Quite standard.
8. If you were to buy this property as Investment, it currently Landtax is $6279 at the moment! Wow, you need to try to get Special Condition 11 to be Single Holding and it will save $1-2000 at settlement, we be adjusting it at $4175 instead.
9. 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.
10. Clear Title, also look like the owner passed away, condolences to the family. The property is being sold by their Executor.

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

Spotted an error? Please let us know. Have a interesting story of the suburb/area or your experience? Feel free to share.
This review may freely be share on the conditions that no edit is done on the original text.

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

• Spotted an error? Please let us know.
• Have a interesting story of the suburb/area? Or your experience and insight? We like to hear them, feel free to share using the Review option at the top of the page.
• This review may freely be share on the conditions that no edit is done on the original text.

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

1. Services Availability: All except Telephone, usually there should still be Internet/NBN service in replacement of Telephone.
2. 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.
3. 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.
4. Land size is approximately: 448m2, average compare to most of the neighbours in the street.
5. 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.
6. This property is a Urban Growth Zone. Which pretty much mean, expect lots of house development in the area.
7. 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.
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 $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.
10. 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.
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: $1400.
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.

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

Summary: A true double-storey house, it is not a townhouse! Not all double storey is build equal, this is the above your average type, the photo does not seem to do the property justice, an in person inspection is highly recommended. The owner kept the property in quite a good conditions, however it might look less appealing until you replace the TV Bracket with your own TV. The Contract is not too bad in term of conditions and potential hazard, however the Caveat and Sheriff documents can be a worrying issue, fortunately the documents is now approved by the Courts.

Contract Review: 35 Gurnung Drive, Cairnlea VIC 3023

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 Chad Fowler: 0433 373 726
Ms Minh Bui: 0410 409 277

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: $970,000 to $1,067,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Big looking house, to be expected for double storey, however not all double storey is build equal, it can get lonely if you living by yourself or have a small family. Nice pergola for outside entertainment, be good if there is also a ‘wind breaker’ or curtain of some kind but that can be install afterward. Across the road you won’t be seeing your neighbours, but a creek and walking trail, one bad point would be it is right next to the roundabout so traffic may be good or bad, considering the location you won’t expect any traffic except local. Another good or bad points is the property is quite higher, higher than above ground compare to the neighbour, it certainly give better view but it mean that your driveway can be steep for low car or weaker driver.

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:
SC9 – You will be charge $220 for reschedule of settlement, make sure to choose the right settlement date that you want, otherwise you will get charge additional fee. We recommend to remove this conditions if possible.
SC8 – 18% as default interest, this is rather high however is quite standard, in most case the Conveyancer will not agree to get this change. Standard is 12% to 14%.

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. Services Availability: All except Telephone, usually there should still be Internet/NBN service in replace of Telephone.
2. 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.
3. There is an easement on the property at the back, however all your neighbour have it too, so it is unavoidable. This where water pipe is usually install.
4. Land size is approximately: 593m2, slightly below average most of the neighbours in the street.
5. This property is a Neighbourhood Residential Zone. Although Neighbourhood give less freedom compare to General Residential, it however is much more stylish.
6. 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.
7. 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.
8. Council rate is estimate to be $2600 yearly, which is quite standard considering the landsize and the value of this property. The Owner also own quite a lot of money to the Council too, but it not so much of your concern.
9. Water rate is estimate to be $680 yearly. Quite standard. With an arrear of over $6000 at the moment. The Vendor is currently struggling with their finance, one factor could be the Bank Interest rate and living expense cost.
10. 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: $2000
11. 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

Spotted an error? Please let us know. Have a interesting story of the suburb/area or your experience? Feel free to share.
This review may freely be share on the conditions that no edit is done on the original text.

UPDATE 22/07/2023: Sold for $1,410,000. WOW. Amazing crowd turn out. 4 strong bidder.

Summary

Very unique house style house, the owner took great care of the property, you have to wonder if they are just creative or have a professional decorator involved. Being on main road does mean more traffic; perhaps it is a good or bad point depending on your perspective.

The contract is quite standard without too much concern. House size is quite large, but larger size come with larger bill.

Contract Review: 65 Furlong Road, Cairnlea

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 Chad: 0433 373 726
Mr Leigh: 0414 098 557

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: $1,000,000 to $1,100,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Very unique looking house, beautiful decoration, Cairnlea property up for sale is quite low in comparison to other Suburb. Nice pergola for outside entertainment, I wonder if the buyer get the trampoline too. Very rare to see 3 space garage, and a private toilet nearby. Interesting that the garage lead to the 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; the Vendor kept the contract fairly standard without any conditions that is too concerning.

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. Services Availability: All
2. Look like the property only have 1-2 owners, considered that it was purchased in 2007.
3. There is an easement on the property at the back, however all your neighbour have it too, so it is unavoidable. This where water pipe is usually install.
4. Land size is approximately: 807m2, above average and larger than most of the neighbours.
5. This property is a Neighbourhood Residential Zone. This would explain the unique look of it. Although Neighbourhood give less freedom compare to General Residential, it however is much more stylish.
6. This property is NOT in Bushfire Prone Area. There is a water area nearby; a small Ponds. What nice about Cairnlea is there is many park and reserve area, personally I have visit approximately 6 ponds in Cairnlea.
7. Council rate is estimate to be $2500 yearly, which is quite standard considering the landsize and the value of this property.
8. Water rate is estimate to be $680 yearly. Quite standard.
9. 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: $1975
10. 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