DEAN CARVER - Property Lawyer

Does your swimming pool comply with NSW laws?

2014-11-19T10:29:00.000+11:00

From 29 April 2015, all property owners who have a swimming pool or spa pool will need a valid Certificate of Compliance or relevant Occupation Certificate BEFORE they sell or lease their property.

According to the NSW Fair Trading and the legislation, from 29 April 2015:

residential properties in NSW with a swimming pool or spa pool cannot be sold; and
new residential tenancy agreements cannot be entered into for properties with a swimming pool or spa pool

UNLESS they have a valid Certificate of Compliance or relevant Occupation Certificate.

Given the new legislation will apply from 29 April 2015, property owners should start taking steps to obtain a valid Swimming Pools Compliance Certificate well in advance of the commencement and application of the legislation.

No doubt, as we head closer to the date of application, there will be a rush of pool owners applying for the relevant compliance certificates. To obtain a Certificate of Compliance property owners should make enquiries of their Local Council who can provide more information and the relevant forms etc. The Certificate of Compliance can also be issued by an approved Private Certifier.

We suggest all property owners in NSW take steps to obtain the relevant Compliance Certificate if they intend selling or leasing their property in the near future.

According to NSW Fair Trading, there are approximately 95% of NSW swimming pools that are non compliant. With such a high statistic, it would appear that pool owners will need to do some work to make their pools compliant before a Certificate of Compliance can be issued.

If you are looking to sell your property, from 29 April 2015, the relevant Swimming Pool Compliance Certificate will need to be attached to the Contract for Sale.

For more information, contact your Local Council.

Here are some relevant links:

NSW Fair Trading - Swimming Pools

NSW Swimming Pools Register

Find a Private Certifier

We encourage all our clients and readers who own a property in NSW to address the above issues well before putting their property on the market, so that any necessary work can be done to allow the issue of the Compliance Certificate. If you own a rental property, you should also attend to these matters ASAP just in case your current tenant leaves and you need to release the property.

If you would like to discuss any property related matter, whether buying or selling, contact Dean Carver - Property Lawyer for a confidential discussion before you embark on the process.

Dean Carver

Solicitor

Phone: (02) 9773 4550

Buying a Strata Unit?

2013-02-02T11:17:00.000+11:00

With more and more people looking to buy into a strata complex, there are a number of issues that buyers should know about strata living.

Living in a Strata Scheme is very much different to living in a house. Strata Complexes include such properties as Units, Villas, Townhouses and the like. If you have never lived in a Strata complex, the laws and responsibilities are somewhat different to those of owning a freestanding house.

Buyers looking to purchase into a strata complex should do their research and make sure they are fully aware of what it is like to live in a strata complex and what they can expect from living in such properties.

The NSW Fair Trading Department has published a great guide about Strata Living. The information in the booklet contains information that all buyers looking to purchase into a Strata Scheme should be aware of. The booklet addresses a number of issues, including:

Introduction to what is a Strata Scheme?
What you should look for before buying into a Strata complex
What is common property?
What do you own?
Who looks after the common property?
What is the Owners Corporation and what does it do?
What are the responsibilities of owners and residents in a strata complex?
Who is responsible for repairs and maintenance?
What happens at the meeting of the Owners Corporation?
What are the responsibilities of the Strata Manager?
What are the responsibilities of the Owners Corporation?
What are by-laws? What happens if you or other residents breach the by laws?
Can you keep pets in a strata complex?
If things go wrong.....what is the process?

All these issues and more are addressed in the Strata Living booklet. If you would like to get more information or obtain the booklet, it is available through the NSW Fair Trading or you can click on the link below.

STRATA LIVING BOOKLET - Click Here

After reading the booklet, if you need to discuss the law of strata complexes and how they will affect you, please contact Carver Lawyers on (02) 9773 4550 or send us an email using the contact form.

Written by

Dean Carver - Property Lawyer

Carver Lawyers Pty Ltd

Ph: (02) 9773 4550

Right strategy?

2012-12-13T08:29:00.001+11:00

Selling your home? Is the real estate agent using the right strategy?

When a vendor or prospective seller considers selling their home or investment property, the Agent will often only discuss price as the main consideration. There are so many other issues and points of attraction that "bad" agents will fail to consider and it is at this initial stage that vendors should get proper advice on strategy to make sure they are heading in the right direction before the property hits the market.

There are so many negotiation points that the real estate agent can use to attract more buyers and subsequently achieve a higher price. By way of example, vendors should consider clauses such as :

Longer settlements - this becomes attractive for buyers who need to sell first or can give buyers more time to get finance
Extra inclusions - for example, throw the boat in if you live near the water or have a waterfront property
Vendor finance - will attract more buyers that can't get a deposit or are self employed. There are a number of variations of vendor finance and different strategies will work for different situations. Advice is critical.

Whatever strategy a vendor seeks to employ it is critical that the agent and Solicitor discuss the proposed plans and that all clauses are properly drafted into the contract.

Vendors should be open minded to the fact that "price" is not always the only point when considering a sale strategy, and other variants need to be considered that will make the property more attractive to buyers.

Always seek out an experienced real estate agent that understands negotiation, not an agent that is only offering a cheap commission rate. A good negotiator, or should I say a great negotiator, is vital in any marketing and sale campaign.

If you wish to discuss your proposed sale or would like some guidance on strategy, contact the team at Carver Lawyers on 02 9773 4550 or email Dean Carver - property lawyer using the contact tab.

Buying or Selling a property? New Guides available

2012-10-22T14:14:00.003+11:00

The NSW Law Society has recently published 2 real estate Guides that provide independent and unbiased real estate information for both buyers and sellers in the NSW real estate market.

The Guides can be accessed below

Your Guide to BUYING a home - A checklist for buying a house or apartment in NSW
Your Guide to SELLING a home - A checklist for selling a house or apartment in NSW

If you need any further assistance or guidance when buying or selling, please do not hesitate to contact our office, details are below.

Dean Carver

Property Lawyer

Carver Lawyers

Phone: (02) 9773 4550

PS - For all our valued clients, you can also obtain a free suburb sales history report at www.freepostcodereport.com

What is your house worth in today's market?

2012-10-09T21:13:00.001+11:00

With an ever changing real estate landscape, from changes to interest rates, changes in unemployment rates and generally low confidence in the market, sellers should do their research before they put their property on the market.

For home owners that are looking to sell, part of the research is to find out what similar properties to theirs has sold for in the real estate market. We encourage our clients to request a postcode report which sets out recent sales in their chosen area. As a service to our clients we provide a FREE Postcode Report, normally valued at $99.00, to help with that research.

To obtain a FREE Suburb report, visit www.freepostcodereport.com

The free postcode report provides invaluable information to assist with making choices about putting your property on the market. The report contains:

Recent sales in your area including photos and maps
Has there been capital growth in the last 10 years?
What is the median price for the area?
How much can buyers afford to pay?
How many sales in your area in the past 12 months?

In addition, the information contained in the report will trigger questions that you can ask your chosen real estate agent before you list the property.

We have made these reports available exclusively to our clients and readers. If you are looking to achieve a great price for your property, then do your RESEARCH and the results will come.

If you wish to discuss any aspects of your next real estate sale, call Carver Lawyers and we can lead you through the process.

If you just want to order a postcode report, you can do so at www.freepostcodereport.com

Comments by Dean Carver - Property Lawyer

Carver Lawyers

Sydney Office - Phone (02) 9773 4550

Negative Equity?

2012-06-17T12:27:00.001+10:00

What is negative equity? Negative equity is a term that often refers to a situation in which a homeowner finds themselves whereby the amount of debt on the property is MORE than the value of the property.

With a falling market, there are always property owners that are in negative equity. In America, at the height of the Global Finance Crisis there were millions of people who owed more on their property than the property was worth.

For example, the mortgage on the property is $275,000 and the market value of the property is $250,000. This would result in the homeowner being $25,000 in negative equity.

Take the abovementioned example. Let’s say that homeowner wants to sell the property using the standard method which is: Approach the real estate agent, get a market appraisal, place the property on the market for sale etc…….. The best price they could obtain may be $250,000, leaving them short $25,000 still to pay the Bank, PLUS the costs of the Agent to sell (say $10,000 Agents Commission). THE OWNER WOULD NEED TO FIND ABOUT $35,000 to make settlement happen.

What will happen if the owner can’t raise $35,000? If the property owner cannot find the shortfall of $35,000, the Bank in most cases will then refuse to settle and will not provide the title deeds at settlement.

The Bank will usually insist that it will only settle if it is paid its full mortgage of $275,000. If the home owner cannot pay the full amount, there will then be a deadlock. It’s up to your Solicitor to negotiate suitable terms to get the homeowner out of the situation.

At Carver Lawyers, we have helped many clients who find themselves in a situation in which they are in negative equity, with no real solution in sight. Whilst a negative equity situation maybe stressful for the home owner or Landlord alike, there are solutions available. The key is to tackle the issue early and try not to let the negative equity position get worse.

A negative equity position is not a time to bury your head in the sand. The home owner should be mindful of the situation and look for strategies that will provide an “out” with the least pain and financial loss.

If you find yourself in negative equity, call the team at Carver Lawyers in Sydney to discuss your situation.

Dean Carver - Property Lawyer

Carver Lawyers Pty Ltd – Phone (02) 9773 4550

Marketing Costs when you sell?

2012-02-24T10:42:00.005+11:00

Deciding to sell your property will pose many issues even before the sign goes up.

Well before the property hits the market, there are many agreements and documents that need to be prepared and signed even before the photos are uploaded on the internet. One really important document is the Agency Agreement you sign with the Agent to sell the property. The Agency Agreement sets out all the relevant details which is the effective document that gives the Agent the Authority to list and market your property for sale.

Essential terms of the Agreement include: Commission rate, estimated selling price, length of Authority, additional fees and marketing costs, rebates etc. The term that always seems to get attention is the upfront marketing and advertising costs.

Usual items that the Agent charges for marketing include: signboards, brochures, professional photography, newspaper advertising, brochures, etc. Real Estate Agents vary on how they charge this amount. Some Agents charge an inflated and loaded figure while some are fairer and only charge what the "true cost" is to the Agency.

Agents will often charge an inflated amount to cover the cost of their time if the property doesn't sell or is later listed with another agent. The Agent will often ask for the marketing fee to be paid up front. Check the Agreement to see when they are payable.

Its very important to ask the Agent what specifically is included in the marketing fee and whether this is the true cost of the services to the Agency. You should ask to be provided with any receipts for these costs.

Remember, it is always good to get a few agents in to get an opinion on what is essential marketing and what is a waste of money.

You should always try to get legal advice on the Agency Agreement before you sign, so that you can be properly informed as to what you will be responsible to pay, if the property sells and if the property doesn't sell.

Do your research and be informed.

Written by Dean Carver
for Carver Lawyers - Phone (02) 9773 4550
Real Estate Lawyers

Helpful Tips when you do a Final Inspection before settlement

2011-08-17T11:23:00.000+10:00

Just before settlement, you should arrange with the Agent to do a final inspection of the property to make sure that the property is as you inspected and no inclusions have been changed or removed. I have found over many years that the final inspection is an important and integral part of the process......it can often postpone settlement until issues are rectified.

Buyers should aim to do the final inspection as close as possible to the settlement date or early on the settlement day if possible.

Here are a few things buyers should consider when they do the final inspection:

Make sure that items listed as "inclusions" on the Contract are in fact still part of the property. For example: pool equipment, dishwasher, blinds, TV Antennae, light fittings, curtains etc. Check your Contract.
Make sure there are no items left behind. Check cupboards, built in wardrobes, roof void, under the house, sheds etc.
Make sure you get into the garage. Often, some Agents say they have forgotten the key to the garage only to find after settlement that there is a bed mattress or rubbish left in there. After settlement it is too late to get this removed by the Vendor.
Make sure the Agent has all the keys. Keys to the garages, sheds, window locks, front door, back door, letterbox etc.
Make sure all remotes have been left behind - For example, Air-conditioner remotes, garage doors, heaters, automatic blinds, TVs etc
Make sure all rubbish has been removed. Don't forget to look in the roof cavity (through the manhole) and under the house.
If the electricity is not on - just check the main box. The Vendor may have switched the power off at the main.

These are just a few general ideas and suggestions that you may wish to consider when you do a final inspection before settlement.

Comments by Dean Carver

Real Estate Lawyer - Carver Lawyers

Phone: (02) 9773 4550

NOTE: Would you like to know what houses in your area have been sold for?......order your FREE copy of the Postcode Sales Report (normally valued at $99.00).

Buying or Selling real estate at Auction - VIDEO

2011-07-27T11:19:00.000+10:00

Here is a short video prepared and distributed by the NSW Office of Fair Trading. It provides some helpful advice on the rights and responsibilities of bidders and auctioneers before, during and after the Auction.

If you are buying or selling real estate at Auction and need legal advice or assistance bidding at the Auction, I can be contacted below.

Comments by Dean Carver - Property Lawyer
Carver Lawyers
Phone: (02) 9773 4550

3 things you should do before you sell a home

2011-07-26T12:24:00.000+10:00

Before you decide to list and sell your home, make sure you do the following:

Get a copy of the NSW Fair Trading's Fact Sheet on Agency Agreements. This guide will provide information on engaging an Agent and the different types of Agency Agreements that exist in the marketplace. It also provides useful information regarding how to start and end an Agents appointment as well as what fees and commissions you are liable for. To get a copy of the fact sheet, you can click here
Make sure the Agent is licensed to sell your home. Check out the Fair Trading website "Licence check" facility. Click here to go to the relevant section of the NSW Fair Trading website
Do your research. Attend a few auctions in your area to find out the true success of an auction program for your relevant area. Also obtain a Sales History Report which sets out all the recent sales in your area. This will give you a good idea of what price range your property is worth in today's market.

If you are not sure of the process, you should contact your Solicitor to guide you through the sale.

Comments by Dean Carver

Property Lawyer - for Carver Lawyers (Sydney)

Phone: (02) 9773 4550

Home Sellers Tip - Present the home in its best light.....

2011-07-25T13:59:00.001+10:00

If you want to sell your home- present the home in its best light. Just like selling a car, you need to clean the car and make it appeal to buyers.

You don't want to give the buyers the opportunity to find fault and use those faults to negotiate the sale price of the property down.

Here are a few low cost repairs and ideas to help you present the home well:

Mow the lawns
Clean all the windows
Clean the bathroom and toilet thoroughly
Make sure all appliances work well
Make sure all lights work. Change globes if necessary
Clean floors
Remove clutter
Tidy yard. Remove rubbish. Go to the Tip if necessary
Fix leaking taps and toilets
Fix squeaking doors
Clean gutters
Fix garage door if necessary
Do lawn edges
Replace missing or cracked tiles
Clean driveway and footpaths....water blast with pressure cleaner
A fresh coat of paint always helps
Clean curtains and/or blinds
Remove cobwebs
Make sure gates and gate locks work
Clean pool
Make sure letterbox is straight and not falling down

Implement some of the above ideas and you are on your way to achieving a great price for your home!

Comments by Dean Carver

Property Lawyer & Strategist - "providing Solutions for Home Sellers"

Phone (02) 9773 4550

Sellers - 5 Tips in 5 days

2011-07-25T10:30:00.000+10:00

Selling your house, unit or investment property can be a stressful time if you don't have all the facts and know the tips, tricks and pitfalls of the real estate industry.

Over the next 5 days, I will post 5 tips for sellers that can achieve results in today's market. These tips are from my upcoming book soon to be released to clients and readers.

Stay tuned........if you need more information, you can email me or contact the office.

Regards
Dean Carver
Property Lawyer
Publisher - www.deancarver.com.au

Buying or selling real estate - read a few books first

2011-06-10T15:48:00.000+10:00

Buying or selling real estate in today's market can be a daunting and stressful time in any persons life. During the process you will be making important decisions that could potentially increase your wealth or substantially reduce your wealth by thousands.

When you go out into the world of real estate, you deal with professionals in all areas: Real Estate Agents, Lawyers, Valuers, Tradesman, Mortgage Brokers etc. These professionals practice their trade daily and usually get very good at it. I would suggest that any person going into the "real estate world" to buy or sell a house should educate themselves on the process, the tricks and some of the traps.

I found a few good practical books that are based on common sense, that are unbiased and simple to read. I strongly recommend any of these books:

The Ultimate Guide to Real Estate - (John McGrath)
Don't sign Anything - How to protect yourself from the tricks and traps of real estate(Neil Jenman)
Real Estate Mistakes - How to avoid them How to save your money (Neil Jenman)

These are just a few books I have read and found useful. There are plenty of other books on the market. Just make sure they paint an unbiased view and are written by authors with practical experience in the industry.

All these books can be found in most good bookshops or on ebay.

Best of luck.

Comments by Dean Carver - Property Lawyer

Carver Lawyers - Sydney NSW

Phone (02) 9773 4550

www.deancarver.com.au

The Agent says "you're asking too much - REDUCE THE PRICE"

2011-06-08T16:58:00.001+10:00

This is a common phrase used by many Agents in today's real estate market. Homeowners are being told regularly that their house is not selling because they are asking too much. They need to reduce the price to attract buyers to the property.

After the property has been on the market for a few months and remains unsold, the homeowner will reluctantly reduce the price.....but soon thereafter, the price reduction does not result in a sale. Why not?

Homeowners are all too familiar with this scenario. The issue is not always about the price of the property. Where are the buyers? The buyers aren't there even if you reduce the price. The real problem in today's market is affordability and the ability to secure finance.

Reducing the price does not always secure a sale......take for example a home owner that reduces the price from $450,000 to $425,000, a huge $25,000 price reduction. A buyer interested in this property at a purchase price of $450,000 will need to come up with a 10% deposit which is $45,000. When the price is reduced to $425,000, the buyer still needs to come up with $42,500 (deposit of 10%). By reducing the price it does not substantially change the deposit a buyer needs to get into that property. The real saving on the deposit required is $2,500.

There are less and less buyers with substantial saved deposits in today's market. Unfortunately, the Banks are requiring substantial deposits in order to approve finance for the remaining amount of the purchase price.

Agents need to look to alternative strategies to achieve a sale........but Agents continue to use the old way which is reducing the price. In this market, reducing the price may bring the price of the home to less than what is owed on the mortgage and leave the owner in negative equity.

Agents should consider such options as vendor finance and terms contracts and at least offer these options to a home owner. Times are changing, and Agents need to change with the times.

It is possible to secure a sale without reducing the price, but the homeowner needs to always keep in mind what the true value of the property is when going to the market looking for buyers. Implement the right sales strategy and the property will sell.

If you have a house that the Agent can't sell - give me a call and we can work on a strategy to sell that suits your circumstances.

Comments by Dean Carver - Property lawyer .
Phone: (02) 9773 4550

Should you use a professional photographer when you sell?

2011-06-03T15:21:00.002+10:00

A photograph speaks a thousand words.......

When you place your property on the market for sale, one must agree that you should present the home in its absolute "best light" to appeal to buyers.

With the advent of the internet and the fact that most buyers now look to the internet as their first point of enquiry when searching for a home to buy, it is imperative that you create a great initial impression.

A professional Photographer will cost approximately $150-$300 depending on the number of photographs and the time of day (night time usually costs a bit more). A great photograph of a property can attract buyers that may have not noticed the property otherwise.

Take for example these 2 photos below randomly taken from the internet.......one done by a professional photographer and the other presumably taken by the homeowner or Agent?

Professional photo

Ordinary Photo

From the above internal photos, you can see that the 1st photograph portrays a much warmer and welcoming property which invites further enquiry.

You must remember that once the potential buyer has inspected the property, the only thing they have to remind them of the property when they get home is the photograph. When they show the property to their friends and family, the photo is what gets the reaction......yes or no.

For the cost involved, I definitely think that it is worth getting professional photos taken when you sell.

A more inviting home attracts a higher offer from potential buyers.

Comments by Dean Carver
Property Lawyer and Consultant - Sydney
"helping homeowners engage the right Agent"
Email me - see form to the right

14 Tips to consider when hiring a Real Estate Agent

2011-05-25T10:47:00.000+10:00

Finding a good real estate agent takes some research. Here are my 14 tips you should consider when hiring a real estate agent to sell your property:

Get a Sales History Report for your suburb and street.....find out what other similar properties have sold for in your area
Consider ordering a Valuation from a Registered Valuer so you know exactly what your property is worth in this market
"Phantom shop" the Agent: Visit properties for sale by an Agent you are considering - find out how they treat buyers because that is the way they will treat your buyers.
Make sure the Agent gives you a price guarantee - if they don't get the price they promise, then the fee is ZERO
Don't just choose an Agent because they charge the lowest commission - another agent that charges a bit more might be able to get you a much better price
Find a Good Negotiator - Be careful of Agents that negotiate on their commission. Agents that quickly reduce their own fees will only quickly reduce the price of your property. If they give away their own money, they will easily give away yours.
Be careful of the Agent that gives you the highest quote for your property.
Don't pay for upfront marketing costs. A confident Agent should cover these costs. However, you should consider paying for the costs of a good signboard and a professional photographer. For the small cost involved, these make your property present much better.
Interview Agents until you find one you like
Never hire an Agent you don't like
If the Agent insists on "open for inspections" - make sure they will take responsibility for any loss.
Ask the Agent to substantiate the price quote by comparing to other similar properties that have been sold.
Ask the Agent "How will he get the best price for your property?"
Get legal advice on the Agency Agreement before signing

The above tips are just a few things you should consider and are by no means an exhaustive list.

If you are considering selling your property, make sure you get legal advice before you sign with an Agent. It is imperative that you get a Lawyer to have a look at the Agency Agreement before you sign.

Comments by Dean Carver

Property Lawyer and Strategist

Phone: (02) 9773 4550

Watch out for the Sewer that cuts across the property

2011-05-23T17:49:00.003+10:00

Watch out for the sewer that cuts across the property.

I recently acted for a buyer who was interested in a property that had a sewer that ran straight across the block of land and under the house. It is important that you check the sewer diagram contained in the contract to make sure that you are aware of any sewer or proposed sewer that may affect the property.

A sewer that cuts in the middle of a property can have potential problems if you decide to rebuild in the future or if you wish to put in a swimming pool on the property.

The contract should also contain a letter from the relevant sewer/water authority that indicates that the Authority is aware that there is a property built over the sewer and that it complies with the Authority's guidelines and legislation.

Prior to exchanging contracts it is also suggested that you arrange for a plumber to have a look at the sewer diagram as well as an onsite visit to guide you regarding future development and problems with encasement of the sewer if the house is rebuilt or any further strengthening that may be required.

If you intend putting in a pool in the yard, also worth arranging for a pool company to have a look at the site and the diagram to advise whether a pool is possible.

These are general comments and you should discuss any purchase with your lawyer before you sign the contract.

Comments by Dean Carver
Solicitor at Carver Lawyers

Issues to think about when you buy real estate in todays market ....

2011-04-28T15:12:00.000+10:00

Buying your first home or just buying an investment property can be stressful. Here are just a few tips or issues you should consider when buying your next property:

Make sure you get a list of all the recent sales in the suburb you are buying. Make sure you do thorough research as to what properties are currently selling for in your marketplace.
If your property of interest is near a school - find out what the traffic is like during school hours
Make sure you have your loan approved before you go shopping for a property. A pre-approved loan means you can make quick decisions when required. Tell the Agent you have pre approval when you negotiate, this means you are serious about buying and the Agent will put you near the top of the list.
Check for any heritage listing - Have a look at the Section 149 Certificate contained in the draft contract.
Visit the Council to make enquiries about any property of interest - Are there any outstanding issues or notices against the property?
Talk to your Solicitor well before you start shopping for a property. Let him know that you are in the market to buy and to keep a look out for any draft contracts. Make sure you have the email and necessary contact details of your Solicitor at hand to provide to the Agent when needed.
If a strata property - order a Strata Report. Also ask the Agent whether he is aware of any special levies? See if you can obtain a copy of the minutes of the last AGM of the Body Corporate.
If you see any nearby neighbours outside their property, ask them what they think of the surroundings? You might get some valuable info.
Have you considered a Deposit Bond?
Check the Strata By Laws - If you want, can you keep pets on the strata lot?
Check that Appliances work - Oven, cooktop, grill, hot water etc
Is there Housing Commission properties nearby?

These are just a few tips and issues you should consider when buying property. By no means is the above a definitive list. You should consult your Solicitor before signing any contract.

Comments by Dean Carver

Solicitor and Real Estate Strategist

Can't sell your vacant block of land?

2011-03-22T22:34:00.001+11:00

Selling vacant land in the current real estate market is not easy. Having watched my local market very closely in the last few months, I have seen that many Agents are finding it harder and harder to sell vacant land.

Can't sell your land? What is the solution? Have you considered other alternate selling strategies such as:

Vendor Finance
Joint Venture with a local builder
Joint Venture with an Investor
Delayed Settlement
Part sale
Pay the Buyers stamp duty and expenses

These are just a few suggestions that sellers can consider. The above options can also be combined to real effect.

The idea is to make your block of land stand out from the rest of the properties on the market. Make your property easy to buy and it will naturally become easy to sell.

Finance for land is tough at the moment and buyers are finding it difficult to purchase if their finances are not in order. The Banks have tightened the Loan to Value Ratios meaning buyers need more equity or a bigger deposit. Accordingly buyer numbers have reduced.

The usual course for the Agent after the property has been on the market for a few months is to recommend a price reduction. In this respect, do your research to find out what the actual sale prices of similar properties have been in recent times. this will give you a better indication whether price is the real reason the property has not sold.

If you need a Postcode Report which sets out all recent sales, subscribe to our Newsletter and you will be entitled to receive a FREE report normally valued at $89.00.

Comments by Dean Carver - Solicitor and Real Estate Strategist - Carver Lawyers - phone (02) 9773 4550

When you sell - make sure you advise your Solicitor of specific EXCLUSIONS

2011-03-18T09:54:00.000+11:00

Do you want to keep the chandelier in the hall? the 10m high palm tree in a pot? the enclosed BBQ? Plasma TVs installed on the wall? in built fish tank? in built coffee machine? split system air conditioner? outdoor shed? pot belly stove? pool cleaning equipment?......these are just a few items that are often attached to a property and can be classified as being included in the sale unless they are specifically EXCLUDED in the contract.

When you decide to place your property on the market for sale, at the time of instructing a Solicitor to prepare a draft contract for sale purposes, you should make sure that you specifically advise your Solicitor that you want to make sure that certain items are EXCLUDED from the sale. At this time, give them a list of the specific exclusions.

If the draft contract specifically has your items marked as EXCLUSIONS, there is room to negotiate to get a better price if these items are then included in the sale.

Over the years, I have found that there is many disputes over what a buyer and seller think is included in a sale which can lead to settlement being postponed. It is imperative that the contract details specifically what is included and what is not.

For more information, or to discuss your next sale, contact Dean Carver (Property Solicitor) on (02) 9773 4550 to sell your next NSW property. Don't forget to register to receive our regular Real Estate Tips Newsletter.

Bidding at Auction - Try to be the last to register

2011-03-13T10:45:00.000+11:00

In NSW like many other states in Australia, buyers wishing to bid at a real estate auction must first register before being entitled to make a bid. At registration, the Agent will take the bidders details and need to sight suitable identification such as a Drivers Licence or Passport.

After taking the bidders details the Agent will then enter the details in a register and hand a bidding number to the bidder. A smart tip for a budding bidder is to take a quick look at the register as it is filled out by the Agent, you will often get an indication of how many bidders are registered before you. The Agent or their representative often fails to cover the previous listed registrants.

If the Agent is slack you will get a great insight into how many other bidders are seriously there to bid..

The key is to register as close to the commencement of the Auction and NOT early. Good luck to all auction bidders! Don't let the Agent influence your research or thoughts on price.

More tips - subscribe to Newsletter.

Any questions, ring Dean Carver - Solicitor and Real Estate Strategist at Carver Lawyers. Phone (02) 9773 4550

Is your home insurance up to date?

2011-03-12T09:43:00.003+11:00

As a homeowner, is your building insurance up to date? What would happen if a cyclone hit your area and took your roof with it? Are you insured?

It is always recommended to review your insurance policy to check what you are covered for. Are you covered for cyclone? Hail? Flood? Bushfire? These are just a few circumstances that you should consider.

If you live in a bushfire area or close to a river or waterway, you should specifically ask your Insurer whether you are covered for building damage and replacement in the event of a bushfire or flood respectively. If not, have it included or change insurer. Natural disasters have been common in the last few months and Insurers are naturally keen to try and exclude insurance therefor, so make sure that you are also covered for natural disasters.

Make sure that you are comprehensively covered for all types of events that can cause damage to your property, building and contents of your house. Don't forget valuable items on your property that may also be included in the shed, basement etc......

If you are unsure regarding your policy and what is included specifically ask the Insurer and have it in writing, email or fax. Just in case the Insurer queries in the future or refuses to pay.

Remember, when estimating the value of your property and rebuilding costs, it is better to over insure than under insure. The premiums won;t be that much different. If you think it will cost $250,000 to rebuild, make it $330,000 instead. This will give you a buffer in case.

If you are unsure, get legal advice.

Comments by Dean Carver - Solicitor and Real Estate Strategist (Sydney) - (02) 9773 4550

REAL ESTATE CHALLENGE - Do you have a house that has been on the market for more than 12 months?

2011-03-11T18:41:00.001+11:00

Its time for a challenge! I am looking for a homeowner that has had their property on the market for more than 12 months and has tried every avenue to sell but without success. It might be a home that has been listed at some stage with many different agents, needs repairs to sell, is on a main road or just does not appeal to the right buyer. It may be a house where the loan debt is more than the value and in negative equity?

As a real estate strategist, I look to offer homes to buyers using methods rarely know of by the traditional agent. Do you know of a homeowner that has had their property on the market forever?

Let me make it clear, the price will not be reduced to make a sale, I will mainly be looking at alternative methods to sell without reducing the price.

Houses (not units) that fit one or more of the following criteria may be suitable for the challenge:

Must have been on the market for at least 12 months;
Houses that are in negative equity (home loan more than the value);
Owners that have tried all usual methods through the real estate agent;
property needs some repairs to sell;
any other reason house has not sold?

I would prefer that the house is located in NSW, but will consider other states.

If you have a house that fits one of the above criteria or know of anyone trying to sell but without success, contact Dean Carver (Solicitor and Real Estate Strategist) on (02) 9773 4550 or by email

House prices are inflated by 20 per cent - reports chief economist

2011-03-10T15:48:00.012+11:00

Chief Economist Brian Haratsis from Macro Plan Australia believes that house prices are inflated by 20 per cent and that Australia will have at least 2 rate rises this year. The Economist has told the Herald Sun that."A lot of people could wind up with negative equity and we could have a sub-prime issue on our hands.".

I tend to agree with his thoughts. We are in a real estate market where buyers are really finding it difficult to secure finance to purchase and if they eventually do find finance, they are having difficulty affording the mortgage payments when interest rates rise.

Whilst unemployment rates remain low......there are still buyers who can afford loan repayments whilst they are gainfully employed. As soon as we see unemployment start to rise, which at some stage it will, then we may start to see some homeowners default on mortgage payments.

The flow on effect of rising unemployment is a real estate market where homeowners will be sadly looking to "offload" their homes to reduce debt, but with a flood of owners looking to sell and higher interest rates, buyers may disappear causing the market to slide.

Homeowners could find themselves in a negative equity position where the mortgage debt is more than the value of the property. My experience is that most real estate agents will have great difficulty in selling houses that have more debt than they are worth.......there is just no margin to allow for their commission.

Hopefully not too many homeowners will find themselves in a negative equity position, but if they do, there are solutions available, but not widely reported by the real estate industry.

If you currently have your property on the market but it is overpriced because that is the amount you need to pay the debt, unfortunately your property will not sell. What you need to do is make your property attractive by offering terms that buyers like. Put your property above others. When you make your property easy to buy, then it will be easy to sell!.

If you need some help or guidance selling, ring Dean Carver - Consultant and Real Estate Strategist on (02) 9773 4550.

Dean Carver - Solicitor
Property Lawyer and Strategist
at Carver Lawyers Pty Ltd
Need more tips - Subscribe to our "Real Estate Tips by Carver Lawyers" Newsletter - see right of page

How can a buyer find out how long a property has been on the market?

2011-03-02T11:24:00.000+11:00

How long has the property been on the market?................This is a question commonly asked by buyers for the main reason to find out whether the vendor may now be motivated to sell. The real problem is that many Agents who are asked this question, often lie about the true situation. Agents are taught not to give away the Vendors real position so as to avoid a weaker situation in the negotiation.

Why do Purchasers want to know how long the property has been on the market? The main reasons buyers seek out this information is as follows:

What is the Vendors real motivation. If the property has been on the market for some time, the Vendor may now be ready to sell at a realistic price.
The Real Estate Agents Agency Agreement may be coming to an end and the Agent may be more willing to help the buyer make a deal.
The Vendor is now getting tired of keeping the property neat and tidy to sell and now has the motivation to sell.

All these factors make a stronger case for the buyer during negotiations. Buyers should always try to seek out how long the property is on the market but not rely on the answer primarily given by the Agent. Is there a more reliable way to find out the answer? Where can I get this information?

With the changes made to the NSW legislation over the recent years, vendors who wish to sell their residential home now need to have a contract drawn by their Solicitor or Conveyancer prior to placing the property on the market for sale. The answer is in the contract.

As a buyer, if you look to the title search in the contract, this will have a date on which the search was ordered. This is an indication, but not a certainty as to the approximate time when the contract was first prepared. Whilst you cannot rely on this date as the guaranteed date when the property first came to market, it does give a strong indication as to when the search was done in anticipation and readiness for sale.

In addition, you can also look to the date of the section 149 Certificate as issued by the Council (often referred to as the Zoning Certificate). Again this is also an indicator of when the certificates were ordered for insertion into the draft contract.

Whilst the above suggestions do not offer an absolute guaranteed answer as to how long the property has been on the market, it will however provide strong evidence as to when the vendor started to take action to place the property on the market for sale.

On the flipside, it is always good for sellers (vendors) to keep these certificates updated and "fresh" to avoid informed buyers using these details to assist them in negotiations.

When buying or selling, get the right advice.

Comments by Dean Carver, Solicitor and Real Estate Strategist - (Carver Lawyers) www.carver.com.au - phone (02) 9773 4550