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Helping You Move - RE/MAX Property Sales

Finding Your New Property Purchasing residential real estate can be a very exciting process; however it can also be a confusing and stressful time for prospective buyers. This p u rch as in g

guide i s

designed t o

help

you

navigate

s m o o t h l y through the sometimes turbulent time that is buying a property. We hope that we can assist you in finding the right property and look forward to keeping you up to date.

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Helping You Move - RE/MAX Property Sales

Making an Offer When you have found the property that you wish to purchase, i t is critical that you understand the steps that are involved in securing the property. Firstly, make your intention known to the agent straight away. Many past Purchasers have missed out on properties by a matter of days, even hours. The agent will then require y o u to make your offer i n writing.

General Tips If you want to make an offer, be certain that the following items have been arranged or confirmed:  Have pre-approval of finance from your bank.  Have a solicitor or conveyancing clerk in mind.  Have your initial and balance deposits ready. Have an idea of settlement date.  If necessary, have your own property sold, or be in the process of hiring an agent.

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Helping You Move - RE/MAX Property Sales

Offer, Negotiation, Acceptance In Queensland, all offers must be in writing to constitute a contract. When the approved c o n t r a c t is completed, the agent can then contact t h e seller and start the negotiations. The seller can then do one of three things: 1. Accept the offer - in which you are bound by the contract. 2. Reject t h e offer - you can then resubmit another offer. 3. Counter the offer - the seller puts down their counter terms and price, in w h i c h you can then either accept or counter. Please remember that people make decisions at different speeds. It is best to start thinking about your next move prior to hearing from the agent. Many negotiations start to slow down when the price gets closer, and it may be better to pay that extra $5,000, which on a $400,000 loan, has a difference of $8.15/week at 7% interest over a 25 year loan, rather than holding off for another property and looking for another 3 months.

Buying at Auction in Queensland If you„re intending to buy at auction, all the above-mentioned must be in place. Auction day is final. If you turn up to bid, you MUST register wit h the Auctioneer before the auction commences . If you are the highest bidder and you have bought the property “under the hammer”, you are the instant owner awaiting settlement of that property.

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Helping You Move - RE/MAX Property Sales

The Contract The agent responsible for the sale of your desired property will either sit down with you to go over the Contract of Sale, or send it through to you along with instructions as to how to correctly fill it in. Here you will insert your offered purchase price, the time frame for Finance, or Building and Pest Inspections (if required), and any special conditions that are necessary. The agent will then present your offer to the seller, and if the offer is accepted and signed against by the Seller, the property becomes Under Contract and that date is said to be the contract date.

You should obtain:  Independent legal advice

(solicitor/conveyancing clerk)

 Independent valuation of the property(usually arranged by your bank)

The Cooling-Off Period A five business day period which starts on the contract date, where in the purchaser can terminate the contract on the property for any reason. This can, and usually will, result in a termination penalty equal to 0.25% of the purchase price. e.g. (0.25% of $400,000 is $1,000) NB: If the contract date is a business day, that day is included in the cooling-off period.

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Helping You Move - RE/MAX Property Sales

Initial Deposit Payable within 72 hours from the “Contract Date” - when the Buyer and Seller have agreed and signed on the terms a n d conditions of the written Contract.

Balance of Deposit Generally payable when the Finance Clause is due or on Unconditional Date. The maximum amount payable is 10% of the purchase price.

Building & Pest Inspection It„s up to you as the purchaser to arrange a Building and Pest Inspection for t h e property you have a Contract on. The standard time frame f o r this inspection to be undertaken is by 5pm, 7 days from the contract date.

Valuation/Finance Don„t be alarmed if your bank or lending institution requests a valuation by a registered P r o p e r t y Valuer. This is standard p r a ct i c e in all states of Australia especially if you„re borrowing more than 80% of the purchase p r i c e of the property. The Valuation Inspection will be arranged b y your bank/lending institution usually within 14 days of the contract date.

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Helping You Move - RE/MAX Property Sales

Insurance Please note, the property will pass to your risk from 5pm on the next business day, after the contract date. This means that you must get insurance on the property. In apartments, the body c o r p o r a t e w i l l cover the building„s insurance, however you must insure the internal of the property.

Summary Preparation is the key to successfully purchasing a property. Understand your rights and have everything in place. If you follow the advice in this document, along with that of your solicitor and agent, you will be on your way to securing the right home for you. If you have any further questions, please feel free to call me any time.

Regards

Lee Sutherland lee@remax.com.au 0417 077 847

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Helping You Move - RE/MAX Property Sales

Transfer Duty Rates from 1st August 2011 Dutiable Value Up to $5,000

Nil

$5,000 to $105,000

$1.50 for each $100, or part of $100, by which the dutiable value is more than $5,000

$105,000 to $480,000

$1,500 plus $3.50 for each $100, or part of $100, by which the dutiable value is more than $105, 000

$480,000 to $980,000

$14,625 plus $4.50 for each $100, or part of $100, by which the dutiable value is more than $480,000

More than $980,000

$37,125 plus $5.25 for each $100, or part of $100, by which the dutiable value is more than $980,000 Quick Reference Guide Purchases Price $300,000 $400,000 $500,000 $750,000 $1,000,000 $1,200,000

Transfer Duty Fee $8,325.00 $11,825.00 $15,525.00 $26,775.00 $38,175.00 $48,675.00

First Home Buyers Concession Please note there is no transf er duty payable on a first home up to $500,000. To find out how much duty you will pay, work out the full amount of duty you would pay if you were not claiming a concession using the above table and take away the concession amount using the table below. Not more than $509,999.99 $510,000 to $519,999.99 $520,000 to $529,999.99 $530,000 to $539,999.99 $540,000 to $549,999.99 $550,000 to $559,999.99 $560,000 to $569,999.99 $570,000 to $579,999.99 $580,000 to $589,999.99 $590,000 to $599,999.99 $600,000 or more

Up to $15,525 $13,925 $12,325 $10,725 $9,125 $7,550 $6,000 $4,500 $3,000 $1,500 Nil

*Calculated from web site http://www.stampdutycalculator.com.au/stamp-duty-qld *Source: Office of State Revenue, Queensland

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Helping You Move - RE/MAX Property Sales

We recently sold our Buderim home with Lee Sutherland; We wanted a quick sale, so Lee recommended the auction process. He was realistic about the price we would achieve, so with that information, we went ahead. With a good marketing program of four weeks, our house sold 5 days after the auction to the highest bidder at a price we were happy with - a great result in this difficult market. We have marketed and sold several homes over the past 10 years, using a number of different agents. One of the things that stood out to me was how professional and hard-working Lee was. He kept us well informed at all times about how our marketing campaign was going and always had time for us. He was also friendly and pleasant to deal with. I would highly recommend using Lee as your agent when selling your home. Regards Susan & Brenton Howell

We put our home on the market in April 2010. We listed it with one of the larger agencies, but having sold five homes during our marriage we were familiar with the feeling of being abandoned by our agent. Despite putting money into advertising we had had virtually no interest and nine months had gone by. On the advice of a friend we listed with Lee Sutherland. Lee never let a week go by without meeting with us to discuss sales and marketing strategies. All his marketing suggestions were backed up by market statistics, and experience. Lee’s tenacity in following up inquiries was second to none and we were always kept informed. Lee sold our house in a very hard market and achieved a street record. Lee never stopped trying to achieve and on the evening he presented us with the contracts he had negotiated a price $5000.00 over what I had told him I would take. We are more than happy to recommend Lee Sutherland to any Seller. Regards Steve Pescod & Sonja Carmen

We decided in March 2011 to sell our house. We found Lee Sutherland from REMAX to be the “standout” agent. He was up-front, honest, and professional in every aspect we had dealing with him. During the time we had our house on the market, the market dropped significantly, and we had several offers. Lee assisted us greatly in this process. We had a conditional contract on our house, for a good price, which unfortunately fell through due to sellers’ issues with their own sale. We have had our house go unconditional now, and are moving out in less than a week. The contract/price Lee assisted in securing was well above expectations, and to be honest, if this contract had fallen through for any reason before being unconditional, we were looking at losing a lot more on any other offer that came our way. I believe this is a credit to Lee and his knowledge of how to secure a sale. In future circumstances, if they arise, I would look up Lee again as an agent due to the confidence he builds with clients, the knowledge he has of the real-estate market, and the manner in which he composes himself. Yours sincerely, Rowan & Melissa Eppelstun

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Helping You Move -RE/MAX Property Sales

Homes Inspected

Lee Sutherland 0417 077 847

Address:________________________________

Address:________________________________

Agent:__________________________________

Agent:__________________________________

Price:___________________________________

Price:___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score:___/10

Bed_____Bath_____Car_____ Score:___/10

Address:________________________________

Address:________________________________

Agent:__________________________________

Agent:__________________________________

Price:___________________________________

Price:___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score:___/10

Bed_____Bath_____Car_____ Score:___/10

Address:________________________________

Address:________________________________

Agent:__________________________________

Agent:__________________________________

Price:___________________________________

Price:___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score:___/10

Bed_____Bath_____Car_____ Score:___/10


Helping You Move -RE/MAX Property Sales

Homes Inspected

Lee Sutherland 0417 077 847

Address: ________________________________

Address: ________________________________

Agent: __________________________________

Agent: __________________________________

Price: ___________________________________

Price: ___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score: ___/10

Bed_____Bath_____Car_____ Score: ___/10

Address: ________________________________

Address: ________________________________

Agent: __________________________________

Agent: __________________________________

Price: ___________________________________

Price: ___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score: ___/10

Bed_____Bath_____Car_____ Score: ___/10

Address: ________________________________

Address: ________________________________

Agent: __________________________________

Agent: __________________________________

Price: ___________________________________

Price: ___________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Notes: __________________________________________ __________________________________________ __________________________________________ __________________________________________

Bed_____Bath_____Car_____ Score: ___/10

Bed_____Bath_____Car_____ Score: ___/10


-Helping You Move - RE/MAX Property Sales

Achieving outstanding results is something that comes naturally to Lee Sutherland. He is committed to the best possible result, every time. Lee„s process driven approach to selling has seen him establish a presence in the Sunshine Coast suburbs, with clients consistently willing to engage Lee„s services, knowing that

the

sale

will be

handled with

the

highest

professional service and attentiveness.

Consistently monitored by other companies, Lee is always refining the sales process to give his clients the maximum opportunity at achieving the greatest price for their property, proven through the tremendous success of his “ S pecial Preview Licenced Real Estate Agent

Showings” and “RE/MAX Property Sales Quarterly Report”

Licenced Auctioneer From beginning t o end and beyond, Lee understands the process of the Bachelor of Business (Accounting / Computer)

real estate transaction, focusing on both the now and tomorrow, so that all clients, past, present and future, are fully informed of the market a n d what to expect, from Lee„s comprehensive market knowledge. Lee‟s results, experience and dedication to his clients show that it is no wonder more people trust him to sell their home.

Lee Sutherland 0417 077 847 lee@remax.com.au

Helping You Buy & Move- Lee Sutherland  

Information when you are looking to buy and move into your new home.

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