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Property adversely affected

24/8/2017

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In some rare circumstances, if a property is affected as at the contract date because:

a) its present use is not lawful;

b) the land or common property (if the property is within a community titles scheme) is affected by a proposal of a competent                   authority, for example, transport infrastructure;

c) access or any services to the land or common property (if the property is within a community titles scheme) passes unlawfully               through other land;

d) an authority has issued a current notice to treat, or notice of intention to resume the land or common property (if the property is           within a community titles scheme) ;

e) the property is affected by the Queensland Heritage Act 1992 or is included in the World Heritage List;

f) the property is declared acquisition land under the Queensland Reconstruction Authority Act 2011;

g) there is a charge against the land under the Foreign Acquisitions and Takeovers Act 1975;

​and this is not disclosed in the contract by the seller, the proposed buyer may be able to terminate the contract up until settlement. If the proposed buyer does not terminate in accordance with the contract, then the proposed buyer will be treated as having accepted the property subject to these issues.

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Are you thinking to rent out your own house?

18/8/2017

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 When it comes time to move out of home or change rental accommodation, one of the biggest considerations is to whether to live alone or to share with housemates. Strong arguments can be made for both and it comes down to the lifestyle you want to have. Here are some points to keep in mind:
  • Privacy or company - In a share-house, the only privacy you will get is your own room. The rest of areas are shared with other tenants. If you do not concern a chat while making dinner sounds enjoyable and sharing a clothesline, then having housemates might be a good option. On the other hand, if hosting your own dinner parties and having a private bathroom sounds more appealing, renting a property on your own might be more suitable.
  • Saving or spending - If saving money is the goal, a share house generally presents as the better option. Usually rent per room is cheaper than rent for a one bedroom or even a studio apartment. Savings also filter down to bills because three people don’t use three times as much electricity as one person and unlimited internet costs the same for one person as it does for four people.
  • Long term or short term - If thinking to move interstate or overseas is on the cards, a share house would be the simpler option. Subleasing a room can be a fantastic shorter-term alternative to signing a one-year lease. Obviously giving notice is still required but it is typically easier to come and go from a sublease situation in a share house than it is to break a lease. 
  • Early bird or night owl - If going to bed at 3am and sleeping in until 12pm is your weekend schedule, that may be hard to keep up if other housemates wake up at 7am and use a blender for their pre-workout protein shake. It might not sound significant but if schedules between housemates vary significantly, it can lead to issues on both sides.

Source: ​Realestate.com.au 

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Seller’s Warranties

11/8/2017

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Seller may not be aware that a contract for the sale and purchase of real estate property usually requires the seller to provide some forms of warranty to the proposed buyers.


These warranties usually involved various things that could affect the property such as correctness of title, capacity to complete, no judgments, orders or writs affecting the property, no unregistered dealings, no notices of body corporate meetings (if the property is within a community titles scheme) and no obligation to give a notice required by the Environment Protection Act 1994.


The seller should be aware that if the seller breaches any of these warranties, the proposed buyer generally may either:


(a)      terminate the contract by no later than 2 days before settlement; or
(b)      elect to claim compensation against the seller before settlement and proceed to completion.
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