Place Tag: private sale

Summary: Big land size! Close to the beach/port if you are sea lover or like that fresh sea smell. Beautiful looking house that is recently renovated, if you can keep it in the same conditions it would make other jealous! Contract wise it is fairly standard, however care need to be consider in relation to GST payment and the unknown easement.

Contract Review: 5 Nelson Ave, Newcomb VIC 3029

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:
Ms Michelle Winckle: 0416 117 978
Ms Sophie Spowart: 0478 957 905

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: $669,000 to $699,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Wow, I thought Geelong would still be in the lower range in term of price but I guess not. However, it is understandable consider the land size and the location, I see that it is close to the beach/port area nearby, even closer is a school. Very white looking house, look like hard work went into renovation, recently we review another property that is also very white design, if you can keep this property clean it look great! I like the BBQ kitchen out the back, it look like it haven’t even been use! You must get the secret to the owner on how to keep this looking good. No photo of the garage, but there is an aerial photo of the whole land, it seem that the house is newer and the garage was original.

Now in relation to the contract.

General Information & Terms and Conditions

Special Conditions:

Interesting, there is GST applied to this property… what does this mean for you? Let say you buying it at $700,000, you actually have to pay the Vendor additional approximately $64k on top for GST. Care need to be taken in your offer!

Aside from that the Vendor Conveyancer kept the Special Conditions fairly standard without too much concern.

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 buying unconditional.

If possible prior to offer, to negotiate 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

There is 2 Bank involved, and 2 Caveator involved. But this was all done at the same time, and same bank name so it just look like a multiple lender ‘bank’. Interesting, it more difficult to get loan under this structure, but it is not your concern.
Land size is approximately: 840m2, big, you won’t see many of these size in Melbourne’s metro suburb.
Council rate is estimate $1700, fairly low.
Water rate is estimate to be $800 yearly. Quite standard.
f you were to buy this property as Investment, it will be $825 if this is your only investment property.
This property is a General Residential Zone, with a Commercial Zone neighbour behind the property, they got an interesting building shape,
There is an easement on the property at the back. This where water pipe is usually install.
This property is NOT in Bushfire Prone Area.
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.

Furthernote, there is a big unknown Easement as well. The plan is older design, I can see one easement at the back, but that is 2 dashed line, I’m not quite sure what the big one mean. There is colour code… but since it got convert to digital they only scan black and white! Assuming the big easement is “E-3 Green”, then it OK, it for your use, “Purchaser Reverse use”. Unfortunately we can’t be sure unless further inquiry with Council and Land Title Office.

Your property is slightly affect by Special Building Overlay, what does this mean? It mean flooding potentially, the shape of the overlay is very odd though, it almost artistic. Could be due to high and lower ground? You most likely won’t see flooding, however I have not been to Geelong often enough to comments, but there is a potential of flooding during heavy rain or storm. Not to mention there is water nearby (about 2 block away).

There is a Owner Builder report, look like it was just complete last month in July, seem like majority of the house was renovated. Which explain why it look so sparkling clean and white. Lucky for the first tenant to live in in here.

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: The other side of St Albans, when you see the word Main Road West, but surprisingly it is Albanvale instead, location wise you have Brimbank shopping Centre, Watergarden, a creek nearby if you like to do walking or bike riding. It is on the main road though, so traffic and noise might be an issue during peak hours. Very close to primary school if you have kids, double option for this area. Triple if you willing to travel an extra 1 minutes by car. Overall a very good location, with a warming feeling cozy looking home. Unique feature wall style with condition kept fairly good. Not much of grass to maintain, no front fence with your neighbours so perhaps you might get a free lawn cut from them! A front lawn chair and a small garden out of your neighbour’s front lawn certain bring charm and many greeting if they sit out there. Contract and Section 32 wise it is not too much of a concern, however a missing Council Rate is require as we do not know the current outgoing.

Contract Review: 351 Main Road West, Albanvale VIC 3021

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 Matt Christakakis: 0425 719 487
Mr Tony Parissis: 0418 325 610

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: $597,000 to $600,000, please take that into consideration during research, negotiation, bidding or property valuation and finance with your banker or broker.

Personal Thoughts

Nice and cozy looking house, it have that warm inviting feeling. There is an odd panel on the wall next to the roof, perhaps it is a Solar Panel unit? These brick ‘wallpaper’ wall look is certainly rare, you won’t often see this style. It give the property a bit of charm and uniqueness along with the ceiling fan. Nice hardwood flooring, it seem to be recent renovated or being kept in a well maintain conditions. Kitchen also got renovated as well so that also nice. Rarely do you see feature wall like this, it also in the Bedroom as well, no work has been done in the bathroom? It seem to be the original tile of many years ago. One personal dislike is the odd shape of bedroom 2, but perhaps because of this that Master Bedroom is truly a Master (bigger size).

Now in relation to the contract.

General Information & Terms and Conditions

Special Conditions:
Fairly standard without much of a concern, 5% interest for default, and $220 for a reschedule. We recommend to remove:
SC 10(f) and 14 if you planning to do an early settlement.
SC 12 if you need to move in early 1-2 weeks time for example.
SC 15 as there is no Solar Panel confirmation, this might be a danger to you, double check if there is Solar Panel that is still owning money.

If possible prior to offer, to negotiate 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

Services Availability: All except Telephone, usually there should still be Internet/NBN service in replacement of Telephone.
Look like the Vendor does not own the bank any money and that this is an Investment Property. Looking at the plan, the house possibly: 17 years old.
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: 295m2, same as the unit next door.
There is an easement at the back of the property. It is unavoidable as all your neighbour have it too. Water Pipe goes through here.
This property is a Neighbourhood Residential Zone. Which pretty explain the unique looks of the property.
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.
Council rate is unknown but estimate to be $1600, the vendor forgot to include this documents.
Water rate is estimate to be $680 yearly. Quite standard.
If you were to buy this property as Investment, it will be $0 if this is your only investment property.
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.

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