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Questions to Ask Before Exchanging Contracts

October 24th, 2017|

Before you exchange the contracts during a real estate transaction, both you and the seller can still get out of the deal without incurring serious legal consequences. That is why you need to perform proper due diligence on the contract of sale before you complete and exchange it to finalise the property purchase. Here are some critical questions that you need to ask before performing the exchange: Do I need to carry out a survey? The main purpose of the property survey is to assess the physical state of the property and highlight its main defects. There are plenty of surveys that you can perform on a property. You can speak to a qualified property surveyor and ask them to recommend for you the most appropriate options. In case you are buying your property with a mortgage, the lender will order a property survey in order to ascertain the value of their property and cover their backs. A word of advice is to not rely on the seller’s survey as it tends to be a bit “conservative”. A good approach is to hire an [...]

Engaging the Right Inspector

October 13th, 2017|

When you are looking to purchase a property, you’re going to need a Building Inspector. Recommendations are helpful: Look at google reviews they are a great platform or social media Work colleagues or friends that have had positive experience Websites are a great source of information WARNING: It is advisable not to use an inspector recommend by a Real Estate Agent as they may not be independent. Many produce reports that are favourable towards properties selling fast and often cover up major defects. It makes sense that they won’t get ongoing referrals from an agent unless they are producing reports that help the Agent sell properties. The Questions You Need Answered When Making Enquiries   Are you qualified to conduct the required inspections? It is not a requirement in Victoria to hold any formal qualifications to carry out inspections. This means that anyone can be operating and conducting building and pest inspections such as an ex-car salesmen or landscaper. How would you feel if the person conducting your building inspection was not aware of a collar tie (roof framing member) or a window flashing [...]

Who Needs a Building Inspector?

October 13th, 2017|

So you are looking to purchase a property, for investment or your family home. It is a very exciting and emotional time, all you want to do is pick up the keys and enjoy your home…Wait…You have all heard the horror stories. We took possession of our property and you would not believe it, the stumps had all failed and the house needed to be completely re-stumped. The newly renovated shower was also leaking and had damaged the structure. The bathroom needed to be completely re-built or there was damage to the frame from termite attack so we had to remove the roof to replace all the damaged timbers. While we were at work our hot water failed in our apartment and flooded the lower level apartment’s and we discovered it was illegally installed etc. How To Avoid This From Happening To You Due to cases like mentioned above most people enjoy the peace of mind of knowing that their purchase is not going to be a money pit because they are risk adverse and have their properties inspected by a licensed and insured inspector. However [...]

Save Time in Your Small Business With These Property Tips

September 22nd, 2017|

Spring is generally a peak season for buying that new home or investment property. Time is always of great essence. You want to acquire the best property within a very small window and that can exert undue pressure on homebuyers leading to costlier financial and lifestyle mistakes. Here are some tips on how to save time and get set on buying that new property this spring: Get Your Finances Ready Financing is always a huge hindrance when buying a new property so getting your finances ready in advance of the big decision can be a huge plus for a potential homebuyer. You should have saved sufficient deposit as well secured the right financing in time as this will help streamline the process. To begin with, there are certain key preparations that you should make. These include the following: Review your budget and evaluate your financial situation. Are your regular savings sufficient to cover the initial deposit or do you need to up your money game and set aside more cash for the property acquisition? In some cases, you will also be struggling to save [...]

Exterior Water Management: Make Sure Your Pipes Are In Order

September 22nd, 2017|

There are many things that you reflect on when it’s raining. The heaviness of the rain, the pretty rainbow that follows and perhaps if you are a homeowner; I hope the my roof won’t leak! One thing few of us think about is “where does all that water disappear to once it leaves the roof?” It’s not like it spills around the house because everything dries up nicely right after. Little do we know that wastewater goes through a long journey each time we sit in the window and watch the rain go down. Nor do we think about the implications of this wastewater not being dealt with correctly, or how expensive it can be to fix these issues. The Difference Between Waste Water Types The first thing that you should know is that wastewater is not the same everywhere. There are actually two types of wastewater going into our sewers. The first one is foul water sewage that contains dirty water from toilets, showers, kitchen drains, and so on. The second, and the one that concerns us, is the surface water sewers. This [...]

Our Four W Method Of Reporting Defects

February 22nd, 2017|

So, what is required to meet the 2007 Standard? The 2007 Standard limits the extent of reporting to major defects, providing a general impression regarding the extent of minor defects and any major defect that is an urgent and serious safety hazard.  The standard then advises that the major defect should be; 1. Clearly described (as per Table 3.3 of the Standard) 2. Have a general statement as to any minor defect/s arising from the major defect 3. Have an explanation as to why it is a major defect i.e. what are the consequences of NOT attending to the major defect? 4. Have a referral to a qualified person that can provide a scope and cost of the repairs. However, quite often the simple identification of a defect alone is not enough. Their correct format of reporting is called the four W’s. By following the four W method, we articulate each and every building defect to our client by not only identifying the defect, but also explaining why it is a defect and the consequences of the defect if it is not attended to. [...]

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OFFICE LINE

1.800.555.6789

EMERGENCY

1.800.555.0000

WORKING HOURS

9:00am – 6:00pm

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