Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.
Before buying any property there are certain things which need to be taken care of
- Method of sale
- Know the marketing plan
- Up to date price of the property
- Attend open house and other meetings
- Communicate all verbal and written offers
- Receive and hold the full deposits
Buying property is a great way to grow wealth and something that anyone who wants to have a better lifestyle should consider doing. A lot of questions comes into mind while going for the new property. When you talk to agents, important points to discuss include:
- Their knowledge of the market and experience selling homes in the area
- Comparable sales in the area
- Marketing plan for your property
- Preparing your property for sale
- Estimated selling price
- Their commission or fee
- The cost of advertising and other outgoings.
The Australian Consumer Law and Contract includes The agent’s authority to sell is a legally binding consumer contract. The Australian Consumer Law makes unfair terms in consumer contracts void. Estate agents must make sure their authorities comply with the law.
An unfair term in a consumer contract is one that causes a significant imbalance in the rights and obligations of both parties to the detriment of the consumer and was inserted in the contract intentionally.
It is completely negotiable and you should consider the length of time carefully. Once you are in contract with the agent, you will not be able to cancel it.
If no period is defined, then the default period is 30 days from the auction date. In private sale, the default period is 60 days from the signing of the authority to sell.