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Jessie Little
66 reviews
Reviewed by (Buyer) 5 Dec 2023
Jessie Little
66 reviews
Reviewed by Jamil (Buyer) 21 Nov 2023
Jessie Little
66 reviews
Reviewed by Kirsty (Vendor) 16 Nov 2023
Kim Cawthorne
111 reviews
Reviewed by Phil & Darcy (Vendor) 13 Nov 2023
Jessie Little
66 reviews
Reviewed by Caroline & Hendrica (Vendor) 13 Nov 2023
Kim Cawthorne
111 reviews
Reviewed by (Buyer) 19 Sep 2023
Jessie Little
66 reviews
Reviewed by Leanne (Vendor) 12 Sep 2023
Jessie Little
66 reviews
Reviewed by Lynne Kain (Buyer) 11 Sep 2023
Kim Cawthorne
111 reviews
Reviewed by (Vendor) 11 Sep 2023
Buying Faq
Yes, the conveyancer will legally process the transferring of ownership (including rights, title and interest) from one legal entity into another. A conveyancer is required for both selling and purchasing of property.
A Contract of Sale for the purchase of a property is a legally binding document, failure to honour the obligations under the contract will result in a breach of contract.
Generally, the deposit is 10% of the purchase price, this can be negotiated with the Sales Agent. The deposit is held in the Sales Agent trust account until settlement, with the deposit forming part of the purchase price.
Cooling off is two clear business days, with this period ending midnight on the last business day. Within this time frame should you wish to not move forward with the purchase you are given the opportunity to cool off. If you do wish to do this, notice would need to be completed in writing to your Agent.
Should you wish to proceed with the purchase, once your cooling off period has ended your deposit will be due in your Agent’s trust account.
In South Australia, the equivalent to a Section32 is the Form 1.
The Form 1 is a statement that is required under Section 7 of the Land and Business (Sale and Conveyancing) Act 1994. This document is made available once a contract has been signed by all parties. This document will contain information on the property itself, including details like:
- Vendor & Purchaser
- Selling Agent
- What ‘cooling off’ rights you have as a buyer
- Details on matters that may affect the property, such as encumbrances, mortgages, zoning, building approvals
The below may be terms you come across:
- Restrictive Covenant:Â Relates to any conditions that may stop you developing the property in certain ways.
- Encumbrance: Will appear on a title if any restrictive covenants are included on the property, which may affect the title by controlling the future use or development of the land.
- Easement: Can include agreements or rights of a neighbour to use a part of your property to access their own. This also may include an easement over the land for SA Water or SA Power to access services on the property.
- Leases and tenancy agreements: Relate directly to occupancy of the property.
- Development: Will inform you of anything relating to the Development Act such as building approvals, land management agreements with the local council, etc.
If you are purchasing a strata titled property, even if self-managed, the Form 1 will outline any fees and certificate of currency for insurance.
Community Strata: Boundaries are defined by the building on the community parcel. The buildings are part of the common property, therefore the corporation must maintain and insure.
Community Schemes: Boundaries for each lot are defined surveyed land measurements. Each lot owner needs to maintain and insure buildings on their lot. The community corporation must insure any structures in common areas.
The corporation is required to formally meet at least once a year to consider items like insurance and any legal requirements. Each owner has one vote. The unit entitlements determine the amount each owner pays towards insurance and other fees – found on the community plan. By-laws are provided for the administration, management and regulation of the use of the common property and community lots.
If you are purchasing a community titled property, even self-managed, the Form 1 will outline any fees and certificate of currency for insurance.
Once all conditions have been met and you have paid your deposit, your settlement date won’t be too far away.
Before your settlement date, there are a few things to organise and your Sales Agent would be more than happy to run through these steps with you, from organising removalists, connecting your services (electricity and gas) and changing your postal address to name a few.
Your Sales Agent can speak with you in further details surround the type of lease the tenants are in, being either fixed term agreement or periodic tenancy.
Should the property have a tenant in the property, as the buyer you would take over as the landlord of the property until the tenants lease end date or whichever date comes first, being either lease end date or settlement date.
Buying Faq
Yes, the conveyancer will legally process the transferring of ownership (including rights, title and interest) from one legal entity into another. A conveyancer is required for both selling and purchasing of property.
A Contract of Sale for the purchase of a property is a legally binding document, failure to honour the obligations under the contract will result in a breach of contract.
Generally, the deposit is 10% of the purchase price, this can be negotiated with the Sales Agent. The deposit is held in the Sales Agent trust account until settlement, with the deposit forming part of the purchase price.
Cooling off is two clear business days, with this period ending midnight on the last business day. Within this time frame should you wish to not move forward with the purchase you are given the opportunity to cool off. If you do wish to do this, notice would need to be completed in writing to your Agent.
Should you wish to proceed with the purchase, once your cooling off period has ended your deposit will be due in your Agent’s trust account.
In South Australia, the equivalent to a Section32 is the Form 1.
The Form 1 is a statement that is required under Section 7 of the Land and Business (Sale and Conveyancing) Act 1994. This document is made available once a contract has been signed by all parties. This document will contain information on the property itself, including details like:
- Vendor & Purchaser
- Selling Agent
- What ‘cooling off’ rights you have as a buyer
- Details on matters that may affect the property, such as encumbrances, mortgages, zoning, building approvals
The below may be terms you come across:
- Restrictive Covenant:Â Relates to any conditions that may stop you developing the property in certain ways.
- Encumbrance: Will appear on a title if any restrictive covenants are included on the property, which may affect the title by controlling the future use or development of the land.
- Easement: Can include agreements or rights of a neighbour to use a part of your property to access their own. This also may include an easement over the land for SA Water or SA Power to access services on the property.
- Leases and tenancy agreements: Relate directly to occupancy of the property.
- Development: Will inform you of anything relating to the Development Act such as building approvals, land management agreements with the local council, etc.
If you are purchasing a strata titled property, even if self-managed, the Form 1 will outline any fees and certificate of currency for insurance.
Community Strata: Boundaries are defined by the building on the community parcel. The buildings are part of the common property, therefore the corporation must maintain and insure.
Community Schemes: Boundaries for each lot are defined surveyed land measurements. Each lot owner needs to maintain and insure buildings on their lot. The community corporation must insure any structures in common areas.
The corporation is required to formally meet at least once a year to consider items like insurance and any legal requirements. Each owner has one vote. The unit entitlements determine the amount each owner pays towards insurance and other fees – found on the community plan. By-laws are provided for the administration, management and regulation of the use of the common property and community lots.
If you are purchasing a community titled property, even self-managed, the Form 1 will outline any fees and certificate of currency for insurance.
Once all conditions have been met and you have paid your deposit, your settlement date won’t be too far away.
Before your settlement date, there are a few things to organise and your Sales Agent would be more than happy to run through these steps with you, from organising removalists, connecting your services (electricity and gas) and changing your postal address to name a few.
Your Sales Agent can speak with you in further details surround the type of lease the tenants are in, being either fixed term agreement or periodic tenancy.
Should the property have a tenant in the property, as the buyer you would take over as the landlord of the property until the tenants lease end date or whichever date comes first, being either lease end date or settlement date.
Sell With Confidence
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Property Insights
KEY FACTORS TO CONSIDER WHEN SELLING
The real estate market in Mount Gambier continues to see growth. According to realestate.com.au, the median market price for a Mount Gambier home currently sits at $400,000, a 9.6% increase from 12 months prior. If you have intentions to sell your home and want to prepare for the selling process, we offer some steps to help…Read More→
SOUTH AUSTRALIA ELECTRICITY REBATE
The South Australian Government has introduced an Australian Electricity Rebate which became available for eligible households and small businesses in South Australia from 1st September 2023. The Energy Bill Relief rebate is designed to provide assistance in paying your electricity bills and is available in addition to the South Australian Energy Concession. If you are…Read More→
JUNE QUARTER UPDATE
Now that we’re a few months into the new financial year, it’s a good time to reflect on how Mount Gambier’s property market fared over the last quarter. In this article, we’ll walk you through the sales and rental activity and trends for the June 2023 quarter. Insights Mount Gambier’s property prices have risen in…Read More→
CRAFTING YOUR ALL-SEASON OASIS: DESIGNING AN OUTDOOR LIVING SPACE FOR MOUNT GAMBIER’S VARIED CLIMATE
Nestled on the limestone coast of South Australia, Mount Gambier boasts a climate that transitions from cold winters to warm springs and hot summers. Creating an outdoor living space that can endure this diverse weather is a rewarding challenge. This blog article presents expert tips and ideas to help you design the ultimate year-round outdoor…Read More→
TRANSFORMING HOMES WITH INDOOR PLANTS: A GREEN TOUCH FOR EVERY SPACE
Creating a warm and inviting atmosphere within a home is essential in real estate. One often overlooked yet incredibly effective way to achieve this is through indoor plants and gardening. Whether you’re a renter, a home buyer, a home seller, or a homeowner, incorporating indoor plants into your living space can work wonders in elevating…Read More→
HOW THE NEW SA BUDGET AFFECTS BUYERS AND RENTERS
Last month, the South Australian Government released its 2023-2024 State Budget, detailing a new $474.7 million housing package. Called A Better Housing Future, it supports building 3600 new homes in South Australia over the next five years. Alongside this, the budget includes some important – and money-saving! – changes for renters and people looking to purchase…Read More→
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