HOME SELLER’S GUIDEYour guide to obtaining a higher
price for your home in less time
Proudly provided as a guide to home sellers by
www.nfn.com.au
1
Introduction 2
The role of the real estate agent 4
Selecting the right estate agent 5
When to involve a real estate agent 6
Types of agreements 7
Auction or Private Treaty? 8
Your budget 8
Your Guarantee of Service 8
What is your property worth? 9
Time is money 10
What’s for sale? 12
When is the best time to sell? 14
Would I get more if...? 14
Marketing for the best price in the least time 14
Reaching potential buyers 15
First impressions are lasting 16
Your home on show 16
Negotiating and accepting an offer 18
You’ve found a buyer - what now? 18
What about your next home? 20
Arranging your next home loan 20
Moving Countdown 21
Kids and Moving 26
Understanding technical, legal and building terms 27
CONTENTS
IMPORTANT NOTICE: The content of this publication is not to be relied upon as advice.The information should only be used as an overview, as individual circumstances vary. Theinformation may be subject to change without notice and may contain errors. You shouldobtain all legal, financial and accounting advice from an appropriately qualified andlicensed advisor.Published by First National Group of Independent Real Estate Agents Limited. A.C.N. 005 942 192IMPORTANT NOTICE: First National Financial Solutions is a division of Suncorp-MetwayLtd ABN 66 010 831 722. Banking products are issued by Suncorp-Metway Ltd. Variousproducts and services are provided by different entities in the Suncorp Group. The differententities in the Suncorp Group are not responsible or liable in respect of products or servicesprovided by other entities in the Suncorp Group.
There comes a time in life when you need to move on.
Whether you are making a job change, retiring, or just in need of a
change of scenery, one thing is certain when it comes to the sale of
your home: your main objective is to determine the best and most
realistic price for your home and to achieve it in the least expensive
and quickest amount of time.
You may think selling a house is easy and that the first person who
walks through your door will fall in love with your home. But if you
ask yourself how many houses you inspected before you bought your
current home, and how many other people may have been through
the home before you purchased it, you’ll realise that there is a lot of
work and expertise involved.
Perhaps what you really need is a good real estate agent.
Your home will probably be the most valuable possession you will
ever sell and First National Real Estate is here to help.
This book will guide you through the process from selecting the right
real estate agent, realistically valuing your home, preparing your
home for a quicker sale at the right price and finally the move. Of
course, if there is anything else you need to know, just ask – you’ll find
your First National Real Estate agent happy to help. This is an
important and exciting time in your life and we want to make sure it’s
enjoyable and that all goes smoothly
IMPORTANT NOTICE: This booklet is only an overview and is not intended to advise you as to the financialand legal implications of selling a home, but rather provide an overview of the considerations relevant toselling a home. You should obtain all legal, financial and accounting advice from an appropriately qualifiedand licensed adviser.
2
INTRODUCTION
Your guide to obtaining a higher price
3
THE ROLE OF THE REAL ESTATE AGENT
The real estate agent’s role is
to help you achieve your aims
in the most efficient manner
possible. The agent acts as
a market reporter, providing
experience and advice on what
the market may pay for your
home and the most effective
way of reaching potential
purchasers.
4
Selling your home can be an arduous task
but the right real estate agent will help
make the process an easy one. Listen to
their advice as the agent is acting in your
best interest.
Some people attempt to sell their own
home but this is difficult to do when
emotion is involved and you are "too
close" to the home you are trying to sell.
Real estate agents have access to potential
purchasers and they have the experience
of knowing what the market has paid for
similar homes in your area. The
additional money that you gain through
obtaining a realistic price, implementing
an effective marketing plan and selling
your home sooner, outweighs the cost of
employing an experienced agent.
In summary, the major role of your real
estate agent is to:
• Provide a realistic market appraisal.
• Advise on the best method of sale.
• Assist you in developing the most
effective marketing plan.
• Implement the marketing plan.
• Advise on presentation of your home to
the public.
• Bring the property before as many
potential purchasers as possible.
• Present any offer.
• Negotiate the best price with the
purchaser.
• Assist in ensuring the contracts have
been executed and exchanged.
• Co-ordinate the settlement.
Selecting the right
estate agent
Making sure you have the right agent
working on your behalf is also vitally
important.
Here are some factors that you should
consider when choosing your agent:
• Is the salesperson well presented?
• Does the written material look professionaland business like?
• Do they place importance on high
ethical standards?
• Are they well trained in sales skills,
negotiation, marketing and the
legislation applied to selling property?
• Do they have a wide range of marketing
options?
• Do they have a good knowledge of the
local market place?
• Does their company have significant
sales activity?
• Do they have the support of a larger
network?
• Do they keep full and ongoing records of
the sale’s progress?
• Have they the ability to present your
home to a wide market place?
• Do they provide weekly sales progress
reports?
• Do they have testimonials from satisfied
sellers?
• Are they considered a market leader?
• Do they provide a guarantee?
• Are their company brochures and
advertising well presented?
• Are you comfortable with them?
5
When to involve a real
estate agent
The best time to involve the agent is
ideally when you are making the decision
to sell your property. Remember, you do
not have to sign with an agent to take
advantage of their advice. For example,
you may need more room and be
considering extending your home, rather
than selling. A good agent knows the
value of the area and may advise that by
extending your home, you could exceed
the value of the neighbourhood. You may
be unsure of whether a move will be
financially feasible; once again the agent
can advise and may be able to assist with
both the sale of the current property and
the purchase of a new property.
Once you’ve made the decision to sell, the
sooner your property is on the market,
the more opportunities you will have to
sell. New buyers enter the market every
day and yours may be just the home they
are looking for.
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Types of agreements
When you do decide on an agent, you will
be asked to sign an Agency Agreement
which will contain an estimate of the fees,
charges and expenses you can expect to
pay the agent when your home is sold. This
is important because it will help you
determine a proper budget for selling your
house or unit. Accurate budgeting is vital,
particularly if you are selling in order to
"trade up". You need to be sure before you
put your property on the market that, after
all the expenses such as the solicitor’s and
agent’s fees, any repairs and your removal
costs are accounted for, what you will
safely get for your property will enable
you to comfortably purchase the property
you wanted.
Before you sign any agreement with an
agent, you should read it carefully and
make sure you understand it and your
obligations. There are several kinds of
agreements and real estate agents will
happily tailor one to meet your needs.
The main agreements are:
Exclusive Agency Agreement
An Exclusive Agency Agreement covers a
set period with one real estate company
and allows the agent to concentrate all
their efforts into the sale of your property.
This type of agreement includes Auction or
Private Treaty methods of sales.
Open Agency Agreement
You can sign this kind of agreement with a
number of agents. The agent who
introduces the purchaser and holds the
deposit is entitled to the commission.
However, it must be pointed out that quite
often you may not get the same amount of
service from agents on an Open Agency
Agreement and therefore it may take a
longer period to sell your home.
Remember that real estate agents do not
get paid unless they successfully close a
sale. If a house has not sold during the
agreed period it is likely that the price
placed on it is too high.
Auction or Private Treaty?
If you submit your property for auction
this means that prospective purchasers
will bid against one another at a date and
time suitable to you. You can set a reserve
price, which is the minimum you will
accept, and once bidding has passed that
level you know you have a sale as it will
be unconditional and a predetermined
deposit must be paid on the day.
Sale by Private Treaty means that you set a
price at which your property is to be
marketed to the public through the marketing
plan agreed to by you and your agent.
Your budget
The following are the main fees and costs
associated with the sale of your property
which you can discuss with your agent
and make a preliminary budget.
Based on Sale Price of $
Agent’s Fees $
Marketing/Advertising $
Solicitor’s Fees/ $
Conveyancing
Improvements $
Other $
Total Costs $
Your Guarantee of Service
A reputable and progressive real estate
agent should offer a guaranteed
commitment to meeting the needs of the
client. First National Real Estate has had a
guarantee for many years, a sample of
which can be obtained from your First
National Real Estate agent.
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9
What is your property
worth?
One of the major decisions to be made is
the price to put on your property.
It is vital that a sound, realistic strategy is
provided in setting a price that can assure
you of two things:
• Obtaining your asking price or very
close to it; and
• Getting the sale sooner.
Through expert local knowledge, your
agent can establish a realistic price for your
home based on its location, age, size,
features and market variables such as
interest rates and the availability of
financing. Avoid the temptation to be
influenced by the experiences other
people have had in the sale of their homes.
The sale price of your home should be
based on prices achieved recently for
similar properties within your
neighbourhood. Question the motives of
anyone who may suggest that you could
obtain a higher price. Remember, the true
value of your property will ultimately be
determined by the purchaser.
Pricing for the Market
If your price is too high, you could shut
off the most important ingredient of real
estate selling - a constant flow of qualified
prospective purchasers who are looking
for homes in the price range you establish.
Overpricing may give purchasers the
wrong impression and they may look at
your property with higher expectations.
Others will quickly reject those they
perceive to be overpriced, often not even
bothering to inspect them. While a
prospect might submit a lower bid and
give you a price to at least begin
negotiations, this certainly won’t happen
automatically. Many prospects are
embarrassed to make offers that are
substantially below your asking price.
Buyer/ Seller Psychology
In any buyer/ seller relationship, it’s
normal for the seller to ask him or herself
“I wonder if I could have asked for more?”
On the other hand, the buyer may
question whether he/ she could have paid
less. The professional art of negotiating
for the best price is a skill that your agent
should have mastered. Knowing when
the time is right to stand firm requires
specialized experience. One key to
obtaining a speedy, successful sale, of
course, is starting with a realistic price in
the first place.
Time is money
When it comes to selling your home, time
is money.
Every day a home does not sell because it
is incorrectly priced can mean extra
expenses that the owner has to incur for
repayments of principle, interest, taxes,
insurance and maintenance. A home that
is on the market too long because of an
uncompetitive price sends out signals
that “something must be wrong with it”.
Remember, like you, your agent has a
keen interest in getting the best possible
price for your home. Sound, up-to-the
minute market experience provided by
the agent will help your home to sell.
First National Real Estate agents can
prepare a comparative market analysis of
recent sales and, by comparing your
home with similar properties, give a good
indication of a fair market price.
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To assist the agent, you may like to highlight the points about the property that you feel
are major advantages:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
What’s for sale?
It is important to determine from the
outset what is to be included in the sale of
your home. For instance, fittings and
fixtures that are easily removed without
damage, such as decorative light fittings,
wall units and drapes are not necessarily
included in the contract. It is important to
make sure everyone is clear on what is
included, particularly if it will add value
and appeal, BEFORE your home is put on
the market. Any exclusion needs to be
written into the contract.
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Inside:
Floor Coverings
Curtains/Blinds
Ceiling Fans
Dishwasher
Heaters
Stove
Clothes Dryer
Water Purifier
Portable Air Conditioners
Light fittings
Bar
Bar Fridge
Remote Controls
Alarm System
Heating Cupboard
Ironing Cupboard
Storage Cupboards
Wardrobes
Bedroom 1
Bedroom 2
Bedroom 3
Bedroom 4
Other exclusions
Outside:
Garage/Shed
Fly Screens
Barbecue
Outdoor Furniture
Outside Awnings
Watering System/s
Greenhouse/Fernery
Television Aerial
Satellite Dish
Clothes Line
Mail Box
Birdbath / Fountain
Above Ground Swimming Pool
Pool Heater/Cleaner
Additional Fencing
Outdoor Lighting
Tennis Court/Roller/Net/Umpire Stand
Other exclusions
When is the best time
to sell?
Any time you’re ready!
Spring is often considered the best time to
sell. It’s a time of optimism and with the
weather clearing, more potential buyers
will be out and about. Although,
conveyancing times vary from state to
state, it may represent a marketing
opportunity to be “in by Christmas”.
But, it’s also a time when more sellers
will put their homes on the market so
there will be more competition. Winter
usually presents fewer buyers, but the
buyers are usually more focussed on
purchase and traditionally there will be
fewer homes on the market to choose
from. Of course, the further north, the less
difference in the seasons, and
accordingly, the less variation in selling
conditions.
Would I get more if…?
Your agent can advise you if
improvements could generate a better
price for your home. Generally, while
improvements may make your home
more saleable, perhaps even shortening
the sale time, they will not necessarily
achieve a better price.
Of course, there are exceptions and a small
investment could be worth the outlay,
especially if you don’t intend to sell in the
immediate future. First National Real
Estate agents will be happy to advise
whether you may be over-capitalising,
even if you are just considering an
extension or a renovation.
Marketing for the best
price in the least time
It’s not often that a purchaser for your
home is out there, just waiting for you to
put your home on the market. Timing,
presentation and advertising are all
required to bring buyers and sellers
together for the best result.
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Reaching potential buyers
Selecting the best marketing plan to ensure
your home is exposed to the maximum
number of buyers is important in
achieving the best price. However,
expensive or extensive marketing is not
always the answer; a smaller, well-planned
campaign aimed at the right market can
often bring the right result in a shorter
time, especially if your home has features
which will make it attractive to an
identifiable group. For example, a home
beside a popular golf course could be
advertised to members of the golf club.
Perhaps the value is beyond the reach of
the average person. In such a case, First
National Real Estate offers a specialist Fine
Homes service with agents specially
trained and qualified to handle the sale of
high value and often unique properties. In
all cases, it is important to select the
newspapers, magazines and target areas
which contain the most potential buyers
for your type of property. A good real
estate agent will advise you of the right
advertising mix.
Almost always, the first item on the list will
be a signboard. Research indicates that a
large proportion of homes are sold to
buyers in immediate areas, which is why
the signboard is so important. It not only
identifies your property to those who have
seen the home in the agent’s window
display, but also to someone who may
have admired your home and drives or
walks past every day. And that may be the
person who will buy your home.
Signboards come in a number of shapes
and sizes, and of course, prices. A simple
board may be all that is required, or if the
exterior of your property does not indicate
the quality within, a picture board can be
used to give a glimpse of the interior
features. Where council bylaws permit, a
light mounted on the signboard can be
very effective at dusk.
The next part of the marketing will be the
advertising. Local newspapers usually
form the largest part of the mix. The agent
may use just one newspaper where there is
a choice, having tried them all and found
one more cost-effective than the others.
Real estate magazines are another tool
used by agents. Some will take space in
an existing publication; others may
publish their own. These are sent to
known potential customers as well as
being available from the agent. Your
agent also may suggest a letterbox
campaign with cards or flyers of your
property distributed in areas considered
to contain potential purchasers. “Open for
Inspections” are popular with some
agents and not with others, depending on
their own experience of the marketplace.
An “Open” is where an agent will invite
inspection of properties for a limited
period of time, usually on a weekend.
Anyone interested can look over your
home while it is open.
An increasingly important advertising
medium is the internet. Potential buyers
from anywhere in the country or the
world can look at your property,
sometimes inside and out, and decide
whether it is of interest before contacting
the agent. With a sophisticated referral
network such as that operated by First
National Real Estate, buyers from
interstate or other suburbs and towns can
contact their local agent, and be shown
properties available through offices in
areas they may be interested in. Specific
details of interest can be photographed
and placed on a website or emailed to the
interested agent, where they can be
viewed so buyers can make an informed
decision about your property before even
setting foot on it. Many agents also use a
similar viewing system in their office to
assist buyers to narrow the options. This
means less time wasted with inspections
of houses that may fit the buyers’ criteria
but do not appeal aesthetically. Of course,
one of the most powerful, yet often
underestimated, marketing resources is
the agent’s window display. Your
property needs to be seen in the best
possible way in a powerful, ever-
changing display that attracts buyers.
First impressions are
lasting
From the moment the prospects arrive
they should notice that the gardens and
lawns are well presented. Garden rubbish
should be disposed of and paths and
porches kept clear and clean. Toys and
garden tools should be stored away.
Your home on show
Whether by individual inspections
arranged by your agent or through ‘Open
Homes’ set at predetermined times, here
are some tips on how to maximize their
effectiveness.
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A tidy home says “welcome”
Your home should be kept neat and tidy
during the period of inspections. It should
not necessarily be a “show place” but
appear a comfortable home in which to
live. Fresh flowers or indoor plants always
brighten up a home.
Less is more!
While you’re cleaning, think about each
room and what furniture really needs to be
in it. Rooms look smaller when they’re
crowded with sports equipment, excess
furniture and general clutter. Clear out
anything that’s not needed to create a
feeling of spaciousness. And don’t forget
your cupboards - keep them neat and not
too full, to show that your home has plenty
of storage space.
Repairs can make a big difference
Make sure that all minor repairs are
completed. Sticking doors and windows,
loose door knobs, faulty plumbing, peeling
paint or faulty flywire may affect your sale.
Letting the sun shine in
Let plenty of light into your home. Nothing
improves atmosphere more than
brightness. On a dull day it is advisable to
switch lights on prior to arrival of
prospective purchasers.
Make them comfortable
A warm, comfortably heated home on cold
days, particularly if you have an open fire
place, adds a feeling of cosiness; on a hot
day don’t forget to turn on the air
conditioner or fan (or simply let the breeze
flow through). You may like to set the
dining table and have a coffee percolator
on to give your property a homely
atmosphere.
Inspections: Three’s a crowd
Avoid having too many people present
during inspections. First National Real
Estate agents know the buyer’s requirements
and can better emphasise the features of
your home most important to the purchaser.
Silence is golden
Be courteous but don’t force conversation
with a potential buyer. The prospective
purchaser wants to inspect your home -
not pay a social call. However, should you
be asked questions about the home, the
neighbours or the district, answer them
truthfully and directly.
Keep it peaceful
As a general rule it is advisable to turn off
radio and television sets during
inspections as they can be very distracting.
Keep your pets out of the way (preferably
out of the house). Let the agent and buyer
talk, free of disturbances.
Some more “Don’ts”
• Don’t apologise for the appearance or
condition of your home (this does
nothing but emphasise the faults).
• Don’t discuss the details of the
transaction such as price or terms
(leave this to the professional, your
First National Real Estate agent).
• Don’t allow a prospective purchaser to
inspect your home without your agent
(refer them to the agent or contact the
agent yourself).
Working as a team
You and your agent should always work
as a team. If you feel your agent has
overlooked some important selling
points, feel free to discuss them privately
(perhaps a phone call to the office).
Negotiating and accepting
an offer
Always have the agent handle
negotiations. Should you be approached
directly, it is wise to politely redirect the
prospective purchaser to your agent. The
agent will present any offer in writing, at
which time you have the right to accept
the offer or you can counter the offer at a
price acceptable to you.
You must understand that if the purchaser
does not wish to accept your “counter
offer”, they can withdraw their original offer.
When considering an offer, take the
following into account:
• price
• suitability of the deposit
• terms of finance (either cash or subject
to finance being arranged)
• settlement date
Take advice from your agent when
considering the offer.
You’ve found a buyer -
what now?
Once you have found a buyer and agreed
on the price, the contract that had been
initially drawn up can now be signed, and
normally a 10% deposit will be paid by the
purchaser with the balance due on the
settlement date agreed. In the case of
purchase at auction, there is normally no
cooling off period and the deposit must
be paid and contract signed on the day of
purchase. Cooling off periods for normal
sales apply in a number of states,
however, your agent is the best person to
advise you on the legalities.
The deposit will be held in trust by your
agent.
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The purchaser has the right to organize
any inspection of the home, whether it be
by a pest exterminator or a building
consultant. This will normally be included
in the contract. Once the contract is
exchanged, it is a legally binding
document and the process of transfer can
begin. Some people have the knowledge,
experience and time to handle the transfer
themselves, but this is fairly rare. Normally
a solicitor, a conveyancing company or
settlement agent will handle the transfer.
They are experienced and knowledgeable
of what can be a very complex process.
Should you not have an appropriate
person to handle the transfer, your agent
will assist as they will have local contacts
that they can recommend.
The stamp duty is paid by the purchaser.
Settlement day is the point at which the
keys are handed to the purchaser and the
property becomes their responsibility. It is
important to note that until that date the
property is still legally yours and therefore
such aspects as insurance remain your
responsibility.
It is normal for the agent to deduct the
commission and any advertising costs (if
applicable) from the deposit after settlement.
As part of the transfer process, arrangements
will be made for the balance to be
transferred to your bank account or paid
direct to you.
What about your next home?
While you are selling your current
property, your agent can also be working
on finding your new home. Your agent
will help you by identifying your needs in
relation to your new home and can assist
you in finding a home to suit your family
and your budget. By dealing with a
network like First National Real Estate,
that home could be in the same street or
anywhere in Australia, as well as many
other parts of the world. First National
Real Estate should also be able to help
with a rental property while you look
around. First National Real Estate is one
of Australasia’s largest real estate
networks with offices throughout
Australia and New Zealand. First
National Real Estate also has other
affiliations overseas. Whether it is across
town or across the nation, First National
Real Estate can take the hassle out of
moving.
First National Real Estate can source
information about your new area to help
you relocate with a minimum fuss. Ask
your local First National Real Estate agent
for assistance or call 13 16 66 for
connection to your nearest office.
Arranging your next home
loan
Sometimes it can be hard to get to the
bank to arrange a home loan. Rather than
you having to go to them, First National
Financial Solutions* have a fleet of
relationship lenders out on the road who
can visit you, even after hours. As well as
offering highly competitive rates, our
Lenders can provide all the home loan
help, information and advice you need.
Phone First National Financial Solutions
on 1800 720 363
IMPORTANT NOTICE: First National Financial Solutions is adivision of Suncorp-Metway Ltd ABN 66 010 831 722. Bankingproducts are issued by Suncorp-Metway Ltd. Various productsand services are provided by different entities in the SuncorpGroup. The different entities in the Suncorp Group are notresponsible or liable in respect of products or services providedby other entities in the Suncorp Group.
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READY FOR THE MOVE?
Moving Countdown
Planning and preparing down to the last
few details will make your move easier.
Following a schedule that organises tasks
within a time frame will keep you on track.
8 weeks before the move
If you are using a professional mover,
get estimates from different moving
companies and choose the one that is
best suited to your needs. If you are
moving yourself, get estimates from
truck rental companies. Be sure to
reserve in advance.
Draw a floor plan of your new house.
This will help you decide what furniture
stays and what furniture will go.
Use up things that can’t be moved -
such as the food in your freezer and
flammable household aerosol cleaning
supplies.
Contact the information office or local
council in your future location and
start gathering information about your
new home town.
6 weeks before the move
Discuss costs, packing, loading,
delivery, and the claims procedure
with your mover.
Make inventory of all of your
possessions now determine what can
be sold and what can be donated
to charity.
Get copies of your records from
doctors, dentists, lawyers, accountants,
etc. Make arrangements to transfer
your children’s school records.
Go to the post office and obtain a
change of address kit and start filling
out the cards. Don’t forget about
changing the address on magazine
subscriptions, catalogues, etc.
4 weeks before the move
If you have contracted to have the
mover do all the packing for you,
arrange to have this task completed a
day or two before loading the truck.
If you need it, arrange for storage.
Clean or repair any furniture, curtains,
or carpets that need it.
Hold a garage sale. Use the extra cash
to splurge a little on your new place.
If you are moving yourself, work out
how many boxes you’ll need. (Many
truck rental companies will provide
this service)
Do-it-yourselves should take stock of
non-boxable items. Add 15 percent to
their combined cubic feet (along with
total cubic feet of boxes to be loaded)
to determine the size of truck you’ll
need.
3 weeks before the move
Assemble packing material
Furniture pads
Hand truck
Packing tape
Bubble wrap
Styrofoam “peanuts”
Nylon packing string and rope
Crumpled newspapers
Scissors
Utility knife
Large self-stick labels
Felt-tip markers
Boxes, boxes, boxes
Begin packing items that you won’t
need. Don’t pack too much weight in
an un-reinforced box.
Arrange to cancel utilities and
services at your old home and have
them installed at your new home.
2 weeks before the move
Arrange to transfer all of your bank
accounts to new branch locations.
Make any special arrangements to
move pets, such as purchasing airline
reservations and travelling containers.
Consult your veterinarian about how
to make moving easier for your pet.
Make arrangements for new
telephone service.
Cancel any direct deposit or
automatic payment arrangements on
bank accounts you are closing.
Cancel delivery services.
1 week before the move
Transfer all medical prescriptions to a
pharmacy in your location.
If you will need a babysitter, arrange
for moving day service.
Return library books and videotapes.
2 or 3 days before the move
Defrost your refrigerator and freezer.
Have the movers pack your shipment.
Arrange to have cash, a certified
cheque, or money order ready to pay
the driver on delivery day.
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Set aside valuables and legal documents
to go with you, not on the van.
Pack clothing and toiletries to go with
you; take a day or two’s extra clothes
in case of delay.
Pack your first-day handy items box
(see “Delivery Day”) to go with you.
Moving Day
Do-it-yourself movers should pick up
the truck early.
Make a list of every item and box
loaded onto the truck.
Let the mover know where you can be
reached.
Before you sign your agreement with
the mover, read the conditions.
Keep it in a safe place until your
goods are delivered, charges are paid,
and any claims are settled.
Check your old house to make sure
you’ve turned off water, appliances etc.
Inspect basement, attic, garage.
Be on hand to answer questions and
give directions to the mover.
Delivery Day
Assemble first-day handy items:
Scissors
Utility knife
Coffee cups
Tea kettle
Paper plates
Toilet paper
Instant coffee, tea, soft drinks
Soap
Pencils and paper
Local phone book
Masking tape
Bath towels
Trash bags
Toiletries kit
Shelf liner
Check off all boxes and items as they
come off the truck.
Make sure the utilities are connected.
Unpack kids’ toys.
Be on hand to answer questions, pay
the driver, give direction and examine
your goods.
Things to Do -
Tick When Completed
Here’s a final checklist of contacts to be made:
Financial / Legal (notify in writing)
Bank (inc. children’s accounts)
Building Society (loan and savings accounts)
Credit Union
Age/Invalid/Repatriation Pensions
(Social Security/Repatriation Departments)
Public library
Life insurance company (quote policy no.)
Property insurance company (quote
policy no.)
Car insurance company (quote policy no.)
Any other insurance (children’s accident, etc.)
Hire purchase company
Credit cards (Diners Club, store accounts, etc.)
Car registration
Driver’s license
Electoral Office (address in telephone
directory under Government section)
Local police (if you have any driving
summonses, etc. pending, or if you are to be a
witness in a case, etc.)
Shares & investments
Government bonds
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Personal/Social
Employers
Apprenticeship Commission if one of
the family is apprenticed (quote
apprenticeship number)
Kindergarten
Primary school
Secondary school
Part time, evening and correspondence
courses
Other (when children change school, you
may need an official transfer)
Doctor
Dentist
Hospital (if you are an outpatient, etc.)
Baby health centre
Health fund
Social clubs
Children’s activities (Scouts, Ballet, etc.)
Sporting clubs (whether a player or a member)
Neighbours
Relations
Friends
Other
Housekeeping
Newsagent (with date last paper required)
Electricity department
“off” at old address
“on” at new address
Gas company
“off” at old address
“on” at new address
Telephone (Contact Regional Sales Office)
“off” at old address
“on” at new address
Post office (pay a monthly fee for
redirected mail)
Magazine subscriptions (anything
received by mail) - save wrappers with
reference numbers
Here’s a good idea - make up a “Moving
Notice” and photocopy enough for your
requirements. It will save time writing
letters. Here’s a sample:
WE ARE MOVING!!
John & Mary Brown are leaving
1 Smith Street, Smithtown
and will be at
10 Brown Street
BROWNSVILLE STATE 0000
From 1st November
New Telephone: (00) 0000 0000
Kids and Moving
Moving to a new home can be one of the
biggest changes that a family can face,
especially for young children, so it is
important to take them into
consideration. With sensitive planning
these changes can be put into a positive
framework.
The following are a few points to take
into consideration.
• Prepare your children for the move by
giving them lots of information about
the reasons for moving and letting
them know what they can expect in
their new home.
• Invite children to talk about their
feelings with you.
• Listen to what they have to say and
assure them that you understand.
• Avoid being over optimistic and
insisting everything will be wonderful.
Even if the new home is fantastic, it
may still take time for them to adjust.
• Try not to take it personally if your
child is having trouble adjusting to the
move and blames you for causing it.
• Try to explain that sometimes big
decisions need to be made and some
cannot be avoided.
• Provide emotional support and
understanding.
• Share the feelings that you may have
had during your childhood.
• Don’t forget to share your feelings with
someone - adults sometimes need
support as well.
• Focus on the positive aspects of your
new home, neighbourhood and
community.
Remember, your local First National Real
Estate consultant is part of the
community you’re moving into and can
assist in providing information and
contacts for settling into your new area.
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Understanding technical,
legal and building terms
ADJUSTMENTS - Apportionment of rates,taxes, body corporate, rent, insurances etc.Up to the date of possession or settlement ona sale.
ALLOTMENT - A small area of land sufficientfor building a house. An allotment is alsoreferred to as a building block, lot or block
of land.
AMORTISATION - The process of recovering,over a stated period of time, the capitalinvestment through scheduled, systematicrepayments at regular intervals. Periodiccontribution sot a sinking fund to discharge adebt or make a replacement at a future date.
APPRAISAL - The term commonly used inAmerica to indicate what in Australia istermed a valuation. In Australia the termmeans an opinion or summation of thesaleability of a property without resorting to afull-scale valuation.
ASSETS - Real and personal property inwhich a person has an unencumberedownership or equity and which has value.
AUCTION - The selling of any property, realor personal, in public by a licensedauctioneer, who offers the property for sale,starting at a price possibly much below itsvalue, and endeavours to persuade thosepresent to make successively increased offersuntil it is knocked down to the highest bidder.A reserve price may be placed on theproperty by the owner and no sale can thenbe made below this price.
AUCTION AGENCY AGREEMENT - Anagreement that the vendor must sign when aproperty is listed for auction. Details thereserve price of the house and the costs of theauction, including advertising and the agent'scommission. Usually includes a condition thatone agent will have the exclusive right to sellthe property for a period during and after theauction.
BREACH OF CONTRACT - Breaking theterms of the contract.
BRICK VENEER - A building which has brickface external walls with some other materialbehind, usually fibrous plaster or gyprock ona timber frame.
BRIDGING FINANCE - The need often arisesfor purchasers to effect settlement of a realestate transaction prior to the date that thefinance becomes available. Under thesecircumstances it is necessary to obtainbridging finance (a temporary loan) toprovide for the time gap in order to complywith the terms of the contract in regard tosettlement pending the availability of thelong term finance.
BUILDING REGULATIONS - Laws adoptedand enforced by Local GovernmentAuthorities which specify the method ofconstruction of buildings and the nature andmaterials to be used, below which standardsthe buildings must not fall. They are designedto ensure public safety, health and theminimum acceptable society standards as todesign, construction, alteration, repair andoccupancy. Also referred to as Building By-
Laws and Building Code.
CAVEAT - A caveat can be lodged on theLand Titles Register by anyone with a legalinterest in the property, preventing the saleof the property without their knowledge.
CAVEAT EMPTOR - Let the buyer beware. Inreal estate, in the absence of specificrepresentations by the vendor or his agentas to the conditions of a property or the usesto which it may be put, the buyer takes therisk and must make his own inquiries.
CERTIFICATE OF TITLE - The document oftitle to land held under the Torrens System.It consists of duplicate deeds stating the factand extent of the interest of a person (theregistered proprietor) in land held under theTorrens System. The deeds are numbered.One is kept in the Titles Office and the otheris held by the registered proprietor. Whenthe land is dealt with, a note of the dealing ismade on both copies by the Titles Office.
CHATTELS - Any property other thanfreehold land. Chattels are treated aspersonal property, although they aredivisible into chattels real and chattelspersonal.
CLADDING - A term applied to relativelythin sheets or slabs used to enclose aframework, e.g. imitation bricks, aluminium, etc.
COMMERCIAL PROPERTY - Propertyintended for use by all types of retail andwholesale stores, office buildings, hotels andservice establishments.
COMMISSION - Remuneration of a realestate agent for services rendered, e.g. toeffect the sale of property. The amountbeing a prescribed percentage based on theconsideration of the contract or agreement.
COMMON PROPERTY - (i) Land or a tractof land considered as the property of thepublic in which all persons enjoy equalrights. A property not owned by individualsbut by groups. (ii) In a home (villa) unit orflat development that part of the propertyowned and used in common by all the unitor flat owners or occupiers and which ismaintained by the Body Corporate.
COMPANY TITLE - Rights to occupation inperpetuity of property based on theownership of shares in a company in whichis vested the title to the property. This wasthe common method of home unitownership prior to the introduction of stratatitle ownership.
CONDITIONS OF SALE - The conditionsunder which a purchaser takes propertysold to them.
CONTRACT OF SALE - An agreementrelating to the sale of property, whichexpresses the terms and conditions of sale.
CONVEYANCE - An instrument (iedocument) which transfers property or aright in property from one person to another.
CUL-DE-SAC - An access street with a blindend in the form of a turning space for vehicles.
DATE OF SETTLEMENT - In relation to realestate transactions, it is the day on whichunder the terms of the contract the vendor isrequired to transfer his or her estate orinterest in property to the purchaser.
DEPOSIT - Non-refundable percentage ofpurchase price paid by buyer whencontracts are signed and exchanged. Depositmust be held by estate agency or seller'ssolicitor in a trust account or held jointly in atrust account by seller and buyer.
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DWELLING - A residence. A place of abodeor a structure occupied exclusively for livingpurposes.
EASEMENT - A right which a person has touse land belonging to another in a particularmanner not involving the taking of any partof the natural produce of that land — or of anypart of its soil; or a right to prevent the ownerof that land from using that land in aparticular manner. The most usual easementsare rights of way, easements for light andeasements for the flow of water over andthrough another’s land.
EDWARDIAN RESIDENCE - Architecturalstyle that flourished during 1901 — 1916.Characteristics of the style include: chunkybuilding, solid and compact constructed outof common red bricks with bold horizontallines at floor levels, the cornice and parapetswere plastered in flat planes and painted.Verandahs were discarded and walls carriedup to form parapets to reveal the baldness ofthe building. Cast iron in all forms was not used.
ENCROACHMENT - An unlawful gainingupon the possession of a neighbour. Anencroachment is usually in the form of afence, or portion of a building, erected by oneperson upon land of an adjoining neighbour;or a structure overhanging the land of aneighbour. An encroachment may similarlyoccur upon a street.
EXCLUSIVE AGENCY AGREEMENT - Anagreement which entitles one agent only tosell the property.
FITTINGS - Those things installed by a tenantfor the purpose of trade, ornament ordomestic use which may be removed without
causing irreparable damage to the demisedpremises or land. (Fittings may, of course, beinstalled by the owner or landlord of property).
FIXED FLOOR COVERINGS - Wall to wallcarpet, kitchen linoleum, vinyl tiles, etc. Thisterm does not cover loose rugs.
FREEHOLD - The highest form of estate inland, and the nearest the law allows a realproperty owner to approach completeownership. A freehold estate is one which isof unlimited duration, that is to say, it cannotbe said of an estate of freehold at the time ofits creation when it will come to an end.
GAZUMPING - Where the vendor agrees tosell a property, but then sells it to someoneelse or raises the price.
GENERAL LAW TITLE - There are twosystems of providing title to land. One is theTorrens Title System which uses government- recorded certificates of title. The other is thevery much older system under which title isproved by showing what is known as a good
root of title, that is a series of documentsshowing the whole of the history of the landover a prescribed period and showing by thathistory who is currently the lawful proprietorof the land. Also referred to as; common law
title, and old systems title.
GEORGIAN ARCHITECTURE - A formalcolonial style adapted from English design ofthe eighteenth century; characterised bysimple lines, balanced window openings,doors and chimneys.
GRACE PERIOD - A period when a mortgagepayment or other debt becomes past due, andbefore it goes into default. Most mortgagesprovide for a specified period of time when itcan be paid without penalty or default.
HOLDING DEPOSIT - An amount given bya buyer to the estate agent acting for theseller. It shows the buyer's serious commitmentto the property, but is not compulsory and isrefundable if the offer is rejected.
INSULATION - A heat-retarding materialapplied in outside walls, top-flooring ceilingor in roof to prevent passage of heat or coldinto or out of the house. Also, the process ofinsulating a house.
INVESTMENT - Monies placed in aproperty with the expectation of producinga profit, assuming a reasonable degree ofsafety and ultimate recover of principle;especially for permanent use, as opposed tospeculation.
INVESTMENT PROPERTY - That real estateproperty which a person would invest in toget a return on money.
JOINT TENANTS and TENANTS INCOMMON - Property, whether real orperson, may be owned under joint tenancyor tenancy in common. Joint tenancy isownership in equal undivided shares, stateto have the technical requisites of unity of
possession, interest, title and time. The mostimportant feature of joint tenancy is knownas survivorship; on the death of one jointtenant, that person’s share passes to thesurvivors so that they remain joint tenants ofthe whole. Joint tenants are regardedcollectively as a single person in respect oftheir dealings with others. In the case oftenancy in common, although each has anundivided share, such share is distinct andseparate. The interests need not be equal;thus ‘A’ may have one undivided third share,and ‘B’ two undivided third shares of the
same property. The most important featureis that the share of a tenant-in-common maybe separately disposed of during a person’slifetime, or by will. On death it passes, not tothe other tenants-in-common, but by will, orby the laws of intestacy.
LAND TAX - An annual tax paid to the stategovernment, calculated according to thevalue of the property.
LAND USAGE - The use being made of landor the uses permitted under zoningordinances. Zoning ordinances act to controlland usage in a community by establishingbuilding codes and set back requirements.Proper land usage attempts to assign thehighest and best use to each parcel.
LEASE - Possession but not ownership of aproperty for a set period of time. The termsand conditions are set out in a documentsigned by both tenant and owner.
LESSEE - One who possess the right to useor occupy a property under a leaseagreement.
LESSOR - Property owner who rents it out.
LIMITED TITLE - The Torrens Title thatapplies before a property has beensurveyed.
LISTING - The recording of properties asbeing available for sale.
LONG-TERM LEASE - Generally consideredto be a lease agreement extending for 10years or more. Under such leases the tenantmay desire, or be required, to do extensiveremodelling: or if the property leased island, to construct a building or otherimprovements.
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MARKET PRICE - The price actually paid, orto be paid, for a property.
MEZZANINE - A low-storey between twofloors of a building, especially the first twofloors; an intermediary floor. In a theatre, ashallow balcony between the main floor andthe first balcony.
MORTGAGE - A written contract giving thelender certain rights over the specificproperty for example, the house being boughtby the borrower, as security for the loan.
MORTGAGEE - The source of funds for amortgage loan and in whose favour theproperty serving as security is mortgaged, i.e.the person who lends money on the mortgageagainst some security normally real propertyor goods.
MORTGAGOR - The owner of property whoborrows money and mortgages the propertyas security for the loan.
MULTIPLE LISTING - A method ofexchanging exclusive entries for the sale ofproperties between real estate agents who aremembers of the same organisation.
NEGATIVE GEARING - When the incomereceived from an investment property is lessthan the cost of the investment, you candeduct this amount from your taxableincome, reducing your total tax bill.
OCCUPANCY - Having possession ofproperty. Physically taking and holding it andresiding thereon as a tenant or owner.
ON SITE AUCTION - Auction sale held onpremises being offered for sale or chattelsbeing offered at the owners residence asdistinct from an auction held at the premisesof the auctioneer or auction rooms.
OPEN AGENCY AGREEMENT - When any
number of agents may market the vendor's
property for sale.
OPTION - A right given for a consideration to
purchase property on or before a fixed date,
on terms previously agreed upon.
OWNERSHIP - The right to possess and use
property to the exclusion of others.
PASSED-IN - If a property is not sold at
auction because the owner’s reserve price has
not been reached, it is passed in. The highest
bidder has first option to purchase at the
reserve price. It is then possible to negotiate
for the purchase, either on the same day or
afterwards. Properties so passed in are mostly
sold shortly afterwards at a price close to the
passed-in figure.
PENTHOUSE – An apartment build on a
portion of the roof or top floor of a building.
Typically, such units are larger and more
luxurious than most apartments.
PREFERRED LISTINGS – Entrusting the sale
at least in the first instance to one agent only.
PRIVATE SALE – An owner sells a property
without using an estate agent.
PRIVATE TREATY SALES – An owner sells a
property using an estate agent who deals
directly with the buyer/s. The property is not
offered for auction.
PURCHASE PRICE – The price paid; the
amount for which a property is sold.
PURCHASER – The buyer. The one who
acquires title to a property or an interest
therein.
QUALIFIED TITLE – An Old System Titlethat has been updated to the Torrens system,but which may not have beencomprehensively investigated to find out allthe enduring legal interests in the property.
QUANTITY SURVEYOR – A person whoundertakes the preparation of a statement ofthe quantities of material involved in thecarrying out of constructional work.
RANCH HOUSE – A one-storey rambling-style home, usually having a low-pitchedgable or roof line.
RATEABLE PROPERTY – Real estateproperty in respect of which there is powerto impose rates.
RATEABLE VALUE – The value of propertyon which rates are assessed.
REDEVELOPMENT – The development orimprovement of cleared or undevelopedland in an urban renewal area.
REDEVELOPMENT ZONE – An area of landdesignated by a planning scheme as an areain which the existing development is to bereplaced by a new development of the kindspecified in the planning scheme.
RESERVE PRICE – The minimum price atwhich the owner of a property is prepared tosell a property at auction.
RESTORATION – Remodelling a building toits original form; contrasted withrehabilitation.
ROW HOUSING – A group of one or two-storey dwellings separated by fire ratedparty walls; more often known as a terraceof housing.
SALEABLE PROPERTY – Property that canbe readily sold; marketable because oflocation, demand, price or some otherdesirable factor.
SEMI-DETACHED – Party detached. A pairof homes joined together and forming ablock by themselves.
SETTLEMENT – This is the final stage of thesale when the purchaser completes thepayment of the contract price to the vendorand takes legal possession of the property.
SOLE AGENT – An agent appointed upontheir own for the sale of, or other dealingswith a property. An exclusive listing.
STAMP DUTY – State governments imposea stamp duty, or tax, on the purchase ofproperty. The amount of tax payable iscalculated as a percentage of the property’spurchase price. Only buyers pay stampduty.
STRATA TITLE – A building is subdividedand each part or unit in the building isowned separately.
SUB-DIVISION – Literally a division intoparts. The term is generally used in thesense of dividing land into building lots.Before the land can be sold, it must beapproved by the council, other statutoryauthorities and the Titles Office, asappropriate.
SURVEY – The measurement of a propertyto confirm where its boundaries are, andwhat improvements have been made to it.
SURVEYOR – A person qualified andlicensed to practice land surveying.
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TERRACE – A row of houses in one block
with shared dividing walls. The houses are
usually all built to a uniform style.
TITLE – The ownership of property, or the
documents constituting the evidence of such
ownership.
TITLE DEEDS – Documents evidencing the
ownership of property that are transferred to
the new owner when the property is sold.
TORRENS TITLE – This term derives its name
from the late Sir Robert Torrens of South
Australia, who was mainly responsible for
originating this form of title more than 100
years ago, although he was not the author of
the scheme but the one who was able to put
the scheme into effect. Under the Torrens
system dealings and ownership of land are
managed by registration with the Titles Office.
TOWN HOUSE – The term is used to describe
those residential developments which permit
single-family construction on high cost land
by use of row houses.
UNENCUMBERED PROPERTY – Property
free and clear of mortgages, restrictive
covenants, leases, and assessments of any
kind.
UNIT – Each subdivided area registered
within a strata title building.
VALUATION – A written assessment of how
much a property is worth, by a registered
valuer.
VENDOR – One who sells anything. In real
estate transactions it is the person selling the
property.
VILLA – A term widely used in Victoria,elsewhere known as a cottage. The populardefinition is a detached single-storey house.
VISIBLE IMPROVEMENTS – Thoseimprovements which are apparent oninspection such as buildings, fences,orchards, etc.
WATER CLOSET – A room equipped withtoilet fixtures and facilities.
WATERFRONT PROPERTY – Any propertythat has frontage on an ocean, river or otherwatercourse.
WATER RIGHTS – A right to a definite or
conditional flow of water, usually for use at
stated times and in stated quantities for
irrigation or for hydroelectric power
development.
WEATHERBOARDING – External wall
sheeting formed with overlapping or
rebated boards.
WITHOUT RESERVE – An auction term
signifying that the goods offered will be
sold to the highest bidder, whatever that
bid may be.
ZONING – Local planning authorities
control the present and future
development of land, including residential,
business and industrial uses.
Acknowledgment: Information provided by the Real EstateInstitute of Australia (REIA), the national professionalassociation for the real estate industry in Australia. For moreinformation, see: www.reia.com.au
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www.nfn.com.au
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