Displaying an empty room to potential buyers can be a risky decision as it limits their imagination of the property’s potential. “Staging” with hired furniture can be very expensive, and you can never be sure how long you will need to hire it for. You could end up spending a lot more than originally planned.There is another option that is very affordable and helped achieved fantastic results which otherwise have been unattainable.
Whether or not a deposit is paid has nothing to do with whether or not a contract is binding. It is a myth that buyers may withdraw from a contract prior to paying their deposit. There is only 2 criteria that must be met to establish a binding contract.
It's been a very emotional week for my family. This is why and please give it careful consideration. Please watch .....
On a property I recently sold, I received a phone call from the purchaser telling me that the bank valuation had come in $50,000 below the contract price. This was followed by an email from the bank manager recommending the Purchaser use the lower valuation to renegotiate the purchase price of the home.
However, the banks valuer hadn't done a physical viewing inside the home, only doing a 'drive by' and viewing the photographs on the internet. The Purchaser was furious and requested the bank do a 'proper; valuation which the bank refused.
Unfortunately situations like this occur quiet regularly and it is very easy for a purchase or a sale to fall through due to the shoddy practices of the bank.
2016 proved to be a reasonably steady year for Real Estate in Toowoomba. It started off a little slower with investment buyers virtually non-existent. After the Federal election, confidence increased and we saw a small rise in investors as well as owner occupiers. The middle to high end of the market has certainly seen more movement.
Going forward to 2017, jobs security is probably the biggest item that is effecting people decisions whether to buy or continue renting. Employment opportunities will continue to increase over the next few years as new factories are built in the Toowoomba Enterprise Area at Charlton/Wellcamp.
Sometimes purchasers wish to align their building and pest inspection due dates with the finance approval date, which is quite often 3 weeks. The reason for this extended time is so that if their finance is not approved, they can cancel the building inspection and not be out of pocket.
We recommend it's beneficial for the Purchaser having their inspections done as quickly as possible, so that if an issue does come up, they know about it quickly and have plenty of time to be able to deal with it.
It's also beneficial for the Seller in that if the contract falls over, they can quickly place the home back on the market and haven't lost too much momentum due to being 'under contract' for an extended period.
Interest Rates are at an all time low. There is speculation that may even reduce more, however it is certain that at some point they will start to increase.
Watch this short video to learn a strategy where you can pay your mortgage off up to 10 years earlier, save $100,000 and reduce your stress. (*based on the example provided of a $300,000 mortgage).
Using a self-managed super fund (SMSF) to buy property is becoming increasingly popular. There are significant advantages including being taxed at a lower rate and the capital gains tax may be discounted or even tax free if the property is sold while the super fund is in pension phase.
However, taking out a loan to buy property within your SMSF isn’t as simple as getting a normal home loan. Increasingly, Limited Recourse Borrowing Arrangements (LRBA) are set up using a Bare Trust.
Many people buying property for their SMSF often buy first and seek advice later. It's only then they find out creating the right structure and the extra steps required to secure a mortgage can take a lot of extra time. This can quite often make it difficult to secure the property they are wishing to purchase.
Seek early advice from professionals who specialise in SMSF and the whole process will run much smoother for you.
Between 2010 & 2015, Toowoomba was considered one of Australia's best areas to purchase an investment property because it offered good solid returns, lower risk and plenty of potential for capital growth due to Billions of dollars of infrastructure being invested in the region. All of those reasons have proven correct.
Currently, some segments (not all) of the Toowoomba rental market are not receiving the traditional $10 or $20p/w annual rent increase investors would normally expect, however, there is a positive flip side to this which Brendan explains in this video.
Ep80. First International Passenger Flight To China Carrying 200 Local Business People Creating New Export Opportunities!
The first ever international Passenger flight from Toowoomba's new airport is carrying 200 local business people to China with the intention of creating new export opportunities for our local community. Many businesses traveling on this weeks tour met with carefully matched Chinese exporters building on the incredible opportunity the new airport and weekly freight flight has provided for them.
Trade opportunities now available to exporters in the Toowoomba region are real and genuine, helped in no small way with the announcement that Cathay Pacific will begin new weekly cargo flights in November with a Boeing 747-800 direct to Hong Kong, opening a direct pathway straight to Asia.