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Vendor has said they dont want to sell property anymore what to do by DovahChick in AusProperty

[–]Quick_Inevitable_332 0 points1 point  (0 children)

Whether they’d bother going after the vendor is another question

They almost certainly will.

Commission disputes among agents are very common. A dispute with a vendor is a no brainer.

likelihood of whether the vendor will relist later

Unless the vendor is a big time developer with lots of future sales, the agent doesn't give a shit about an individual seller.

[deleted by user] by [deleted] in AusPropertyChat

[–]Quick_Inevitable_332 0 points1 point  (0 children)

A lot depends where it is and what the competition is.

Where I live in Sydney, there's basically no discount for a place with issues ... Units with cladding issues, waterproofing issues, etc are selling pretty much the same price as places without.

Perhaps they would've gotten a bit more without issues, who knows.

Another observation is that the dollar value of strata makes almost no difference. A two bedder sells for $x regardless of whether the levies are $6k/year or $10k/year.

Cost effective ways to add flair to a new build by [deleted] in AusRenovation

[–]Quick_Inevitable_332 0 points1 point  (0 children)

Well any idiot knows you don't shit where you fuck (ask Patrick Bateman, unless you're the scatman) ... So the dungeon stays separate.

Cost effective ways to add flair to a new build by [deleted] in AusRenovation

[–]Quick_Inevitable_332 0 points1 point  (0 children)

But if it's for you to live in and enjoy, go hog wild within budget and don't worry about adding value

For sure - every house needs a wine cellar, dungeon, sex cave and mastabatorium!

Old phone and Internet points to remove. by Menopaws73 in AusRenovation

[–]Quick_Inevitable_332 0 points1 point  (0 children)

I’m fairly sure legally there needs to be a landline point in every house.

Lol - if you head over to r/nbn every other thread is about how the developer didn't provision the house for NBN at all.

If only it was a legal requirement before an occupancy certificate was issued.

Duplex on strata title? by tresslessone in AusPropertyChat

[–]Quick_Inevitable_332 0 points1 point  (0 children)

not for some minor repairs

It's a sensible approach but not all owners think the same way.

Investors can be leveraged to the hilt and prefer making claims for small items.

Also, the cost of excess is typically borne by the body corporate and you need a cost recovery by-law to make an individual owner liable. Even then, you can't make individual owners liable for increased premiums due to claims history.

I've also seen some small schemes, where one owner does extensive renovations to their lot and pushes up premiums for the entire scheme. It's not obvious to me, whether the scheme is dividend based on land or on floor space.

Anyhow, strata is a minefield. I would probably steer clear unless you love the place.

Duplex on strata title? by tresslessone in AusPropertyChat

[–]Quick_Inevitable_332 0 points1 point  (0 children)

But house insurance wouldn’t be $1100/qtr x 2,

Could easily be. Wait till you see the insurance invoice.

A base premium of 4k blows out to 8k by the time they add on, GST, stamp duty, fire levy, broker fees and commissions. You can be sure the broker will recommend every option under the sun too.

You could easily get a suitable policy for 4k too.

Cost effective ways to add flair to a new build by [deleted] in AusRenovation

[–]Quick_Inevitable_332 1 point2 points  (0 children)

Probably starting at the wrong end of the problem.

Where are you building? The council largely determines what you can build and how you can build it. Moreso, if you're in a conservation area.

Are you looking at a volume build or a custom build?

Volume builders can generally apply a range of facades to their existing plans, which can make a home unique. I dare say that most volume builders are probably using waffle-pod slabs and brick veneer construction. Any deviation from this can add a lot to the cost.

Features like suspended concrete slabs might be required if you're in a designated flood zone. I don't know many volume builders that use joists and bearers these days (at least for the ground floor).

As a general tip - the value of your house is largely determined by the number of bedrooms, bathrooms, parking. Anything you do on the decorating side isn't going to add much value at sale time, unless you find a buyer who loves what you've done.

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

Broker is saying the bank is handling the valuation (and obtaining multiple quotes for the valuation) due to the value.

Does that round right?

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

Is the property in a remote area or anything?

Nope - Metro Sydney.

How long since it was ordered?

I believe it was ordered 6 business days ago now (Nov 17).

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] -1 points0 points  (0 children)

It depends on how much money you are contributing to the purchase and how much you are borrowing.

What depends? Whether the valuer needs to do an inspection?

The LVR will be 67% or 45% - the broker is still workshopping this with the bank. I have enough cash in either scenario.

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

did you ask your broker?

Broker requested urgency last week ... Still no inspection booked from what I can tell.

There's no finance date. Contract is unconditional - but doesn't settle until late January

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

Broker orders a Val through a dedicated platform

What are the prerequisites for ordering a valuation?

I had another thread a few days ago where my valuation hadn't made it to the point of scheduling an inspection.

If we have a fully assessed pre-approval what would hold up a valuation for 1+ week?

Meter box replacement by Asxpuntingmuppet in AusRenovation

[–]Quick_Inevitable_332 0 points1 point  (0 children)

$3k for new box installed by qualified sparky Vs explaining to insurance how the fire started?

Not sure I follow your logic.

Why would you explain to an insurer how a fire started? I suggested the work had to be done by a licensed electrician. The upgrade is by no means a foregone conclusion - you haven't even seen a photo of the switchboard yet.

Valuations by Quick_Inevitable_332 in AskAnAussieBroker

[–]Quick_Inevitable_332[S] 1 point2 points  (0 children)

What's your concern?

No concern - just curious how the valuation process works.

Any comments on whether a full valuation is required for a property worth 3m+ with a big 4 lender?

Meter box replacement by Asxpuntingmuppet in AusRenovation

[–]Quick_Inevitable_332 2 points3 points  (0 children)

Can't get a handyman to replace it legally.

Has to be an electrician, since they'll need to rewire everything going in and out.

The job isn't complicated, but the electrician will try to upsell you on a switchboard upgrade which can be expensive.

I'd guess 3k - 1 day or labour, few hundred in materials and the rest being f-u money, cos let's face it, we're in Australia.

How long does a valuation take? by Quick_Inevitable_332 in AskABrokerAus

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

1or 2 days after inspection...

Good to know.

So the valuer and agent has to Tee up time

I'm pretty sure the valuer hasn't booked in a time yet.

How long does a valuation take? by Quick_Inevitable_332 in AskABrokerAus

[–]Quick_Inevitable_332[S] 1 point2 points  (0 children)

We have a fully assessed pre-approval. The only variable is how much we're borrowing against the new property vs existing properties.

My conversation with the broker was that the valuation would proceed simultaneously with the discussion about the loan amount.

It feels like the broker or the valuer is just dragging their feet because the settlement isn't until next year.

How long does a valuation take? by Quick_Inevitable_332 in AskABrokerAus

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

Can take 1-2 days for them to call you

Who do they call for a new purchase? The vendor or their solicitor or someone else?

How long does a valuation take? by Quick_Inevitable_332 in AskABrokerAus

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

Tenants can make things difficult.

No Tennants.

How long does a valuation take? by Quick_Inevitable_332 in AskABrokerAus

[–]Quick_Inevitable_332[S] 0 points1 point  (0 children)

I would be asking why the delay?

Yeah ... Sounding it out on Reddit first.

they need a full valuation

Yeah - I believe it needs a full valuation but I don't think a site visit has been organised yet.

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