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.

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:

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.

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

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.

The tenant also has specific rights regarding :

Photos
Inspection times/days
Notification times
Auction location and more

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.