Closing off the month of February often signals end of the year’s teething period, with the number of properties entering the market now increasing. Interest rates remain unchanged by the Reserve Bank and talks of the upcoming federal election are now beginning to ramp up with the result being incredibly influential to the property market and greater economy as a whole. Of more positive news our office has been quietly undergoing significant changes in the background to produce an office, and brand, that we believe will put us in a position to service our clients at the highest level. This is something we are incredibly proud of and we look forward to our upcoming launch.
Looking at the February results for Epping and North Epping auction clearance rates have shown an increase however, should be considered more a sign of better execution of campaigns, and a selling approach that speaks to today’s market rather than a price rebound. Overall we’re seeing more awareness around prices, adaptability from sellers, and rationale in the market. A number of the results are yet to be disclosed however, the highest currently released price was attained by 56 Wyralla Avenue, Epping which achieved a sale price of $1,831,000 which certainly provides evidence of a lively and successful prestige market.
Having been established by my father in 1983 JR Hunt Real Estate is undergoing a complete revamp. Beginning with our new office, now located at 15 Mobbs Lane, Carlingford, the JR Hunt is changing as you know it and in the coming weeks, we will be unveiling our new brand. Committed to being at the forefront of technology, design, and strategy, I believe that the next stage of what my father built all those years ago, will not only meet the challenges of today but position our clients to overcome the challenges of any market.
‘Disclosure obligations for sellers – what do you need to know?’ – Contributed by Omega Legal
Has there been any renovations on the property? This is one of the most common questions that discerning buyers ask at open homes. Vendor disclosure is an important step in preparing a contract for sale as the failure to disclose certain information could risk you losing a sale and bearing significant legal costs. This was seen in the 2018 case, Huang v Ceylan, where the purchaser found out about illegal building works that were not disclosed in the contract and consequently settlement was cancelled.
When preparing for sale, pay particular attention to your vendor disclosure obligations. Remember to retain all relevant building certificates and insurance documents for any building works done. This not only benefits you while you are occupying the property but also helps ensure you have the complete documentation to market the property successfully.
If you are planning to sell your property this year, obtaining legal advice early will help ensure a smooth conveyancing process. Contact Omega Legal at firstname.lastname@example.org or call 0402 990 108 to find out more.