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October 2008

Section 32 – what the heck is it? (part 2)

by Chris on October 31, 2008
Section 32 - what the heck is it? (part 2)

All the taxes, rates, body corporate fees and charges of that sort that normally are payable on that property should be listed here. Unfortunately the law allows the vendor to just say “not exceeding …” and give you the highest amount (say, $1800) – without giving you the exact number. Personally, I find that annoying. This section should also list all the sums the vendor still owes and the interest payable on them.

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Section 32 – what the heck is it? (part 1)

by Chris on October 29, 2008
Section 32 - what the heck is it? (part 1)

Short version: One boring, awfully long, barely readable document that you get with the house contract. You can’t sign the contract if you haven’t received Section 32.for the house.

Long version: The real name of this document is Section 32 Vendor’s Statement – but we all call it just Section 32. You better read it and pay attention to the details, because it is the most accurate description of your future home you will ever get.

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Is changing my contract to get FHOG increase a crime?

by Chris on October 27, 2008
Is changing my contract to get FHOG increase a crime?

In one word – YES.

If you have missed on the new increased FHOG (First Home Owners Grant) because your contract was dated a couple of days before they announced the boosted FHOG, it sure is annoying. It may also seem perfectly natural to just change the date on the contract and collect the extra money.

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How to find a great house for a good price by asking the right questions (part 2)

by Chris on October 23, 2008
How to find a great house for a good price by asking the right questions (part 2)

In my previous article for first home buyers I started this list of questions – and reasons to ask them, to make sure you are buying a great house for a good price. As I promised, this is the rest of them: Questions about the house: Ask: What is the size of the block? Why: [...]

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How to find a great house for a good price by asking the right questions (part 1)

by Chris on October 20, 2008
How to find a great house for a good price by asking the right questions (part 1)

Many guides and articles will tell you what questions to ask when you are buying a house. None of them explain WHY you need to ask those questions – and many reasons are not obvious. So here is a list of questions you should ask before buying a house – and the reasons why you should ask them.

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First Home Owners Grant Tripled? Not really!

by Chris on October 17, 2008
First Home Owners Grant Tripled? Not really!

Let’s get one thing straight – First Home Owners Grant didn’t triple. The media got many people thinking that it did, but if you’re going to let this buzz pressure you into buying a house sooner – better get your facts straight.

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How to buy a house – Part 5

by Chris on October 11, 2008
How to buy a house - Part 5

Once you’ve made your offer, it will be either accepted or rejected and it usually takes a couple of days to get the answer. If the offer is rejected you can try and submit a better offer on that house and see what happens. If the offer is accepted – congratulations, you’ve made some serious progress.

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How to buy a house – Part 4

by Chris on October 7, 2008
How to buy a house - Part 4

So once you’ve searched the property listings and chosen houses that look suitable to you, it’s time for action – start calling the estate agents to find out the details about those houses, go and inspect them. Don’t worry about having too many on your list – some will get filtered away by inspection, some might be under contract, some vendors won’t like your offer. It’s important to not “lock on” just one house because once you get emotional – you will be in a weaker negotiating position.

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How to buy a house – Part 3

by Chris on October 3, 2008
How to buy a house - Part 3

In the part two of “How to buy a house” series I covered stages four and five, deciding what kind of house you need and what amenities you’d like to be close by. Coming to the stage six, you should have only one or two suburbs left on your list – those you will be examining very closely.

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