EXPLORE all the trends – from styling to sell, the importance of art, the latest design trends, the iconic feature wall and many other ideas including what’s the latest out there…. This section will help you dress your home, throw new ideas at you and inspire you to experiment with “tried and tested” guidelines that I’m sure will arm you with the best advice to sell your property and enjoy life.
Real estate terms – Do you really know what they mean? |
02.02.16 |
Every industry has its own vernacular, a language that is specific for their needs. Often, we become so accustomed to seeing a word, we assume we know the meaning. Other times, we might be too embarrassed to ask. Well, let me help clear up those real estate terms that you might have seen hundreds of times, but possibly a little unsure of the full meaning.
If real estate is not your profession, understanding the terminology can be tricky. But, don’t feel disheartened, you aren’t expected to know it all! Conveyancers and property lawyers usually take care of all the paperwork, but if you want to know more, just ask. I believe in full transparency and would prefer my clients were comfortable with asking me all the questions they need when making property decisions.
For those who think they’re a wiz at real estate terms, why not test yourself and see if you can blitz the real estate glossary test?
N.B This is only an abridged list of the most common terms used.
A lot or block subdivided from a larger portion of land.
The number of years it will take to repay a home loan completely. Maximum amortisation period is usually 25 years.
A short-term loan, usually at a higher rate of interest, taken out by those who have bought a house while waiting for theirs to be sold, or when a normal mortgage and their savings fall below the asking price.
Represents a property buyer in negotiations with a vendor or his/her agent. The buyer’s agent is paid by the buyer. Buyer’s agents should be licensed and certified to act as a buyer’s agent.
Is the tax based on the difference between the purchase and selling price, less inflation, applied upon the sale of an investment property.
Is a document any person with a legal interest in a property can lodge with the Titles Office to ensure the property is not sold without their knowledge.
Latin for ‘Let the Buyer Beware.’ This puts the burden onto the buyer to be satisfied with the item before purchasing a property.
A document stating who owns the property, the size of the land and whether there are any limitations on the title such as mortgages, easements or encumbrances.
Chattels are personal property. There are two types. Real chattels are buildings and fixtures. Personal chattels are clothes, furniture, etc.
Each Cluster Title holder has a Certificate of Title which specifies ownership in terms of a particular area for which the owner is responsible and defines the common property. Unlike a Strata Title, it does not subdivide ‘airspace.’
The first document signed on buying a house is sometimes a Contract Note, instead of a Contract of Sale. This document when signed by both parties is a legally binding as a Contract of Sale and the buyer and seller should treat it with the same importance. It must be accompanied by a Vendor Statement.
A period of time during which a buyer can withdraw from the sale of a home (if not purchased at auction). Duration varies from state to state. The duration must be outlined in the Agreement of Sale.
Conditions affecting the use of land or property written into the title.
Charges payable to solicitors or conveyancers such as postage, phone calls, stamp duty, registration fees and government charges.
A right held by someone to use land belonging to someone else for a specific purpose. Mains, drains and water pipes are usually covered by an easement.
An easement, mortgage, or other liability on a property which impedes its use or transfer.
An owner’s interest in land where the property and the land on which it stands both belong to their owner indefinitely.
If someone has agreed to sell you a property and then sells it to someone else for a higher price, you have been gazumped!
Old, complicated form of land ownership in form of chain of documents. Can be more than 100 years old and of historic interest.
Form or Torrens Title that applies to a property before it has been adequately surveyed.
The last day of the term of the home loan agreement. The home loan must then be paid in full or the home loan agreement renewed.
Is the income on your property less certain expenses such as rates, insurance, maintenance and body corporate levies.
Usually 1% of price, is payable and forfeited if buyer does not go through with the transaction.
Applies to some Old System Titles converted to Torrens Title that may not have been fully investigated.
A seller’s minimum sale price for property sale. It may be recorded on the authority to sell.
This clause would be contained in a building contract. It provides for an upward or downward contract price dependant on movement of prices, wages or other factors specified.
Applies to more than one property on a single piece of land, such as an apartment block. Each unit will have a separate strata title, organised under a ‘strata plan’.
Property free of covenants or other restrictions.
The permissible uses of an area of land as defined by a council.
Local Events – Things To Do |
22.01.16 |
There are many things I love about Sydney – the weather, the history, the architecture and the people. But there is one thing about this glorious city that I love and it’s just how alive it is!
Year round, there are so many events around the city. Festivals, shows, cultural events, live music, theatre, food markets, art and museum exhibitions. The list is almost endless.
Being based in the Eastern Suburbs is an absolute boon. Due to its proximity to the hub of Sydney, it doesn’t take much travelling time to attend an event or a festival. It’s just another wonderful reason to live in the Eastern Suburbs!
Sydney and the Eastern Suburbs seem to explode during the summer months, especially with the number of outdoor events that are organised. Here’s a list of some of what you can find around Sydney if you decided to head out to explore the town.
An annual tradition and now in its 40th year, the Sydney Festival runs from Jan 7 – 26 and showcases an absolutely exciting melange of events. All bases are covered: music, theatre, dance, opera, circus, art and many others genres. What’s great about the Sydney Festival is that there’s something for everyone. And many events are free! Check out the website – there is so much to see and do. It’s also a great way to discover new talent and maybe see parts of Sydney you would not normally visit.
Everyone knows Bondi Beach, but when’s the last time you went for a snorkel at Gordons Bay, Coogee? Locals are spoilt with some of the best swimming spots in Australia, but often the most secluded spots are right little treasures. Parsley Bay in Vaucluse is great for a swim, a bushwalk and a great spot to get away from the crowds. Nielsen Park is also a beautiful place to have a relaxing day – and there’s plenty of shade. If you’re not keen for a swim but still want to feel the sand between your toes, Tamarama is perfect for a picnic or a play day with the kids. Have you been to McIvers between Coogee Beach and Wylies Baths? It is the last remaining women and children’s only pool in Australia and a perfect place to unwind.
If you’re a history buff, there are many places to unearth around the Eastern Suburbs. Vaucluse House at Watsons Bay is one Sydney’s only 19th century harbourside estates still standing. Bare Island Fort was built to protect “Sydney’s back door” – Botany Bay in 1885 and is a picturesque spot to examine the past. Centennial Stables in Centennial Parklands is an ideal place to experience the best the Eastern Suburbs have on offer. If a visit to the flicks is on the menu, forget the mega cinema complexes and watch a movie in style at the Ritz Cinema in Randwick.
Break out of the mould and discover something new about your area. Open the local paper, visit the community centre, go to the opening of an art exhibition or even attend a council meeting! Whatever you do, get out and enjoy your town. Life is for living!
WE’D LOVE TO KNOW YOUR FAVOURITE THINGS TO DO IN THE EASTERN SUBURBS. LEAVE A COMMENT AND SHARE THE INFO!
Surry Hills: Live, Love, Sell |
14.01.16 |
Less than 1.5km from the CBD, Surry Hills is home to many creative agencies and enterprises, renowned design stores and some top restaurants.
Once the centre of Sydney’s garment trade, the Surry Hills of today is a trendy and essentially gentrified inner city address with a distinct arty edge. There are still some factory outlets closer to Central Station on the northern side of the suburb, although many of the warehouses have been reclaimed for conversion, given the high demand for residential accommodation throughout the area.
The main thoroughfare of Crown Street has been completely reinvented as a cosmopolitan restaurant and entertainment hub, with its eclectic eateries and revamped pubs such as The Clock, The White Horse and The Dolphin.
Increasingly a fashion mecca, Surry Hills has great vintage stores, especially at the Oxford Street end of Crown Street. The first Saturday of every month sees Sydney’s young and fashionable head to the Surry Hills markets, held in Shannon Reserve on Crown Street.
The area’s many galleries exhibit young local artists, but perhaps the most famous would have to be the Brett Whiteley Gallery on Raper Street, with its iconic oversized burnt matchsticks framing the entryway.
Cleveland Street, which separates the more upmarket eastern side of Surry Hills from the west, is renowned for its affordable ethnic cuisine. The Eastern Distributor road works gave the area a massive boost, blocking off the formerly high-traffic Bourke Street and transforming it to a quieter, leafy enclave lined with large Victorian terraces, groovy cafes and interesting specialty stores.
What’s in a name? Why street names can spell disaster |
04.12.15 |
Juliet lamented that: “A rose by any other name wouldn’t smell as sweet”. However, if you live on Sewage Street, the pong of a name may permeate through the whole neighbourhood.
It’s not an easy task to find out how many streets there are in Sydney (due to evolution of suburbs and redevelopment), but it’s estimated there are over 9,000 streets. Now, the fair majority are ordinary, run-of-the mill names. But every so often (and I’m sure every suburb has at least ONE odd sounding street name) you’ll stumble across one that’s very unique.
Now, if it gives you a chuckle, say like Butt Place in WA, it can be amusing and a bit of a talking point. But, when you’re trying to sell a house on Bogan Place (in Ku-ring-gai) then it can be detrimental.
On the flip side, though, an unusual street (or suburb name) can be a marketing boom! If a street name helps your property stand out (in a good way) among the plethora of properties on the market, then that’s a good thing, right? Take for instance a property that recently sold prior to auction in Sydney’s Surry Hills. The house, on Batman Lane, probably didn’t fetch more because of the superhero status, but the real estate agent did agree the property did get more attention – and the new owners can now enjoy full bragging rights!
A friend of mine grew up on Bongalong Street in the quiet lower north shore suburb of Naremburn. As you can imagine, her street name was often ridiculed. It also attracted a lot of unwarranted attention, especially from young males who would pose at the street sign at odd hours of the day. These ‘dudes’ thought it was hilarious, but it became a nuisance – especially since many street signs mysteriously disappeared over the years!
There have been cases where residents have petitioned their local council to have a street name changed, but these pleas usually don’t get anywhere. According to Des Mooney of Land and Property Information, which oversees the NSW Geographical Names Board, established street names rarely get changed.
At the end of the day, buying a property involves many factors; price, location, suitability etc. Street names are probably down further in the list of priorities. But, if you really can’t see yourself living on Gross Avenue (and spelling out your street names to banks, for online shopping and the local school – repeatedly) then maybe you shouldn’t move there!
SELLING homes is not just a career; it is an art form – one that is carefully honed over years of life experience and knowledge. And, I can proudly say, that I still absolutely love what I do – day in, day out.
For over 30 years, I have immersed myself in real estate and have built an untarnished reputation in the eastern suburbs of Sydney, among my peers and with my clients – many of who are my friends. People say I exude positivity, and I accept this as the highest compliment.
