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Advice

Do I need a building and pest report before buying a property?

Well, if you are buying at Auction you absolutely should - any purchase at Auction is usually unconditional in nature - so best to have an inspection done before bidding. We can recommend inspectors that we trust.

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If you are buying via Private Treaty - no you are not required to have a building and pest inspection done prior to entering into a contract - you can stipulate that the purchase is subject to a successful inspection (usually within 14 days of the contract date).

If I'm selling - what kind of fees and charges am I likely to be faced with?

There is a bit of flexibility here , but in general you should budget for the following:

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  • Marketin - anywhere from $500 to $5000 (Through Realty Assist you can delay payment until Settlement or 150 days)

  • Body Corporate Disclosures (if applicable - $120-$250) YOU WILL HAVE TO PURCHASE THIS PRIOR TO SELLING

  • Commission 2.75% including GST for an experienced negotiator & marketer.

  • Solicitor/Conveyancing fees

    • Selling $450 - $600​

    • Buying $1400 - $1600

If my property is tenanted - can I sell while the current lease is in place?

Yes. 

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There are considerations to be discussed if the tenant is in the first 60 days of a new or continuing lease.

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The tenant retains the right to remain in the property for the life of the lease - they can not be forced out because you want to sell. 

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The tenant also has specific rights regarding :

  • Photos

  • Inspection times/days

  • Notification times

  • Auction location and more

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At eXp Real Estate we understand that while the property is your investment it is your tenants' home - and a happy tenant is a smooth and profitable sale. 

What is the local market doing in the next 1-2 years?

We continue to find ourselves in a sellers market.  It is expected that growth will continue on the Gold Coast at a rate of 3-5% for the coming 3 years. Average time on market moving from 23 days last year to 50 days this year with more stock coming to the market as interest rates direction clarifies.

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