Tuesday, February 23, 2010

Sustainable Home in beautiful Samford Valley

here is another video production of a home I have for sale in Samford.

It has a rainwater tank plumbed into the kitchen as well as town water, 2 Kw solar cells and a converter to save on your power bills (and the planet), plenty of room for an orchard or vegetable garden and a dam to water them from!!

Let me know what you think of these presentations by using the comments section.

Until Next time


Friday, February 19, 2010

13 Chevalier Street McDowall

This one is new to the market - first open to View time Wednesday 24th February at 5:30 pm - 6:15pm.

Until next time


Tuesday, February 16, 2010

Sustainability Update

John posted a comment here last night about the new version of the Sustainability Declaration and the link for you to have a look at - thank you John. (Just have a look at the comment on the previous post for the link)

The new version of the form is much more streamlined than the first version and probably takes a few minutes less to fill in.

I have had several home owners fill in the form and they all managed to complete it themselves without the need for "an expert". But the new form will make it even easier.

Mind you I have yet to be asked by anyone attending any of my Open to View times or Private inspections to have a look at the Declaration - but it is early days.

Until Next Time


Monday, February 15, 2010

Auction Terms

Auction Terms:

Reserve: This is the lowest price the sellers will accept once the bidding goes over this price the property is declared "on the Market"

"On the Market" - The Auctioneer may confer with the sellers then come and say that the property is "on the market" this means that the highest bidder after this point when the auctioneer has called the bid three times ("going once, going twice - are we all done - final call - SOLD") will have bought the property

Penciller: this is a person usually an employee of the agency or aucitoneers firm who records all the bids in the order they are taken and the paddle number

Paddle Number: these are plastic or paper numbers that help the auctioneer and agency staff identify bidders - it helps keep the process moving. At most Auctions you can choose your favourite or lucky number.

The Auction Board - this is a board that we are required to display at all Open to View times with the title of the property, the contract, the Auctioneers details and registered number and any other relevant information - in Queensland this may include the new Sustainability Declaration.

Auciotneers bid or Vendors bid - the auctioneer is allowed by law to place bids on behalf of the seller, to keep the auction moving, he must announce that the bid is either an auciotneers bid or a vendor bid and the penciller will record this.

Passed in - this is what it is called when the property fails to reach the reserve price and the seller does not wish throughout the course of the Auction to decrease the reserve. The Property will be passed in to the highest bidder and they will have first right to negotiate a price outside of the auction arena. This may take hours or days.

Sold Under the Hammer - this means the bidding reaches the reserve price level and the highest bidder is sold the property.

Deposit - there is usually a deposit required to be paid by the successful bidder at the conclusion of the auction - it is usually 10% although a Variation to Terms can be signed changing the deposit amount. The deposit can be paid by bank cheque, cash or EFT - again in the case of EFT the variation to terms will include a transfer date.

Heard any other phrases that you might need explained ? Just add your question to the comments box below and I will get back to you as soon as I can.

Until next time


Monday, February 8, 2010

Three stages of an Auction

Most people aren't aware that an Auciton has three distinct stages:

The first stage is the marketing, getting the news about your property out to everyone who may interested, conducting Open To View sessions and collecting information and responses from the prospective buyers.

The Second Stage is the day of the Auction - Show time - the auctioneer, the agency staff prospective buyers come together and take part in the auction process.

Stage three - After the Auction - this is a critical time for following up all those buyers who were interested but unable to buy under Auction conditions (ie: finance approved, all conditions met)
Even if a property doesn't sell on Auction day it usually does in the post auction phase.

Next time - understanding all those auction terms.

Until next time


Thursday, February 4, 2010

Are Auctions more Expensive??

The short answer is yes because you have to pay for the services of a professional Auctioneer usually about $400.

Other than that there are only the normal costs associated with selling a property:

Advertising and the commission due to the agent.

Advertising: A well structured advertising campaign can cost as little as $1700 and as much as you like, but whether you are selling by Private Treaty or Auction advertising is the way your agent gets the interest in your property out there.

There is a misconception that internet advertising has somehow overtaken print media as the first place buyers look for a property - but the statistics and the feedback we get from the visitors to our open inspections tells a very different story.

Most people (about 70%) see a property in the local or daily paper then go to the internet to check out more photos or whatever before they call you (or send you an email via the internet site). So a good press component is vital otherwise you are missing a large chunk of the market.

Any queries leave a comment and I will answer as soon as I can.

Until next time


Tuesday, February 2, 2010

Going once, going twice..........


Ever wondered why when you see the property programs on television they are dominated by Auctions???

For some states in Australia there is a real Auction culture for example Victoria almost every property sold is sold by Auction. Things are a little different in Queensland with the vast majority of sales being by "Private Treaty".

So why Auctions??? What does the jargon mean?? Do they work??

So many questions too many to answer in one post so over the next few weeks I will be talking about the various advantages and disadvantages of Auctions, the language, the process, what you need to know as a buyer and a seller.

If you have any questions, thoughts or comments just add them to the comment section at the bottom of the post and I will do my best to answer them for you.

So lets get the language right:

Private Treaty - is the method of selling that involves advertising it for a price, conducting Open Viewings and eventually presenting a contract that may go back and forth for a few days changing terms or adjusting price until everyone agrees and the contract is signed. Then over the next week or two weeks the buyers conduct thier building and pest inspections and get their finance organised, this may involve further negotiation and price adjustment as well as changes in settlement dates. The contract then goes unconditional and on a designated date it settles.

Auctions: - is the method of selling that involves advertising the property to prospective buyers, conducitng Open Viewings , allowing the buyers to organise their finance, complete searches and inspections for building faults and for pest damage and then on a designated day bringing all the intersted buyers together in a spirit of competition to bid in an open forum for the property. The contract is signed - is immediatley unconditional - and settles according to the terms of the Auction.

Next time : Do Auctions cost more ??????

Until then