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FREQUENTLY ASKED QUESTIONS

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Selling

There is no such thing as ‘buyer beware’. The agent needs to be informed about all information that you know about the property. If you know that something does not work e.g a bathroom exhaust fan, or an improvement to the property that does not have council approval then inform the agent.

The agent will have an obligation to relay all relevant information onto prospective buyers prior to them entering into a contract.

The agent will include relevant information in the contract so that there can be no misunderstandings e.g. the dishwasher is not included in the sale of the property.

70 points    Birth Certificate or extract, Citizenship certificate, Current Passport (or not exceeding expiry by 2 years)

40 points    License or Permit issued under law of Commowealth, a State or Territory, current tertiary student ID

35 points    Rates or utility bills with name and address, Land titles office record,

25 points    reference to latest telepone directory as referenced by Telstra, marriage certificate, credit card statement, council rates, telephone account, medicare card

Generally, the most commonly used forms of ID are current Passport, Drivers License, Credit card, Medicare card, water rates and council rates. A 100 point total is required to satisfy security processes and proceedures at Mallison Real Estate.

Don’t just look at cleaning and tiding your home, if the neighbours lawn needs a mow then make the offer to do it for them. Pack anything that is not used on a daily basis and put in in storage; or become friends with Gumtree. The buyer must be able to visualise their own furniture in your house so the less clutter means the more likely they are to be able to do this.

Any time because people are continually on the move in todays society.

When it comes to estimating the market value of property the building and its design features are the main variables. By contrast land value is relatively easy to estimate.
 
The old adage that “there’s a buyer for every property”, is true, but it depends on price. Some properties, however, contain popular building and design features making the estimation easier.
 
As a general guide, here’s an explanation of contemporary attitudes to WA homes and how they contribute to property values.
 
Bedrooms: the number of bedrooms remains the most common way to describe a property. Over the last 50 years the number of bedrooms in the typical home has grown from two to four but the average household size has decreased.
 
Many homes today are occupied only by one or two people.
 
Regardless of this shrinking household size the desire for larger homes remains strong and the market tends to put higher values on four bedroom houses and three bedroom apartments. Extra bedrooms offer flexible lifestyle options such as a home office or guest room.
 
Bathroom: the number of bathrooms and toilets is second only to the number of bedrooms when it comes to buyer interest. The market values a second bathroom and toilet or ensuites very highly due to the convenience and privacy they offer. Particularly where a home is shared with adult children or leased to sharing tenants.
 
Storage: this is an underrated influence on value. We are living in smaller households but accumulating more possessions. Homes with plenty of storage space are likely to be more valued. Spare bedrooms can also be regarded as storage space.
 
Theatre room: the common ‘games room’ of the 1970’s and 80’s has given way to home theatre. Flat screen TV’s with surround sound units and comfy chairs demand their own space, although I wonder if the trend towards watching entertainment online either at a PC or with mobile tablets may change this trend in future?
 
Car space: secure car accommodation is important but doesn’t rate as highly as living areas.
 
Kitchen: popular TV shows about cooking illustrate Australia’s love of entertaining at home or just preparing sumptuous meals. A well designed, functional and spacious kitchen with quality draws and cupboards, bench tops and appliances is an increasing priority for home buyers.
 
Al fresco area: our climate is ideal for covered and protected areas that open to a courtyard or garden. Whether it’s a simple social space with a modest outdoor setting or a classy BBQ area with a cedar paneled patio, a functional and sheltered setting in the outdoors which expands the living area of the home and utilises the garden can be a great bonus.
 
Together, these factors add the most value and ‘wow’ factor to a home. 

Source: reiwa.com.au

All marketing funds must be paid upfront, you will receive an invoice from our office with the full amount to be paid. The money paid at the time of listing will be transferred to a Trust Account and only used as needed. Upon settlement you will receive full invoicing for marketing conducted and any money not spent will be refunded to you. 

It seems there is no clear answer to this because it really depends on a range of factors.
 
Some people will say that a pool is a lifestyle preference not shared by all potential buyers of your property, and so it won’t really add value. Others might even see it as inconvenient because of the  ongoing servicing. For other people it might be exactly what they want and they’re prepared to pay for the luxury.
 
Owning a pool requires annual pool inspection fees, ongoing costs with pumping, cleaning and chlorinating and possibly occasional structural maintenance on older pools.
 
As water becomes more precious, it seems likely that the future costs of owning and filling a pool will be greater. For some home buyers these outlays and responsibilities are unwanted and homes with pools will be avoided.
 
However, this should not diminish the general value of a pool, or more precisely the entertainment features of a home sought after by other buyers.
 
Perth enjoys a Mediterranean climate ideally suited to outdoor living. It’s hardly surprising that the external appearance and features of a WA home do affect its value and generally provides greater ease in selling.
 
In deciding if a pool really does add value, it’s important to consider design features and quality of construction. REIWA agents tend to find that if pool is part of a well designed outdoor living area and complements the house by creating a better aspect to the property, then it adds some value to the home.
 
Important design features for a pool include things like safety concerns, access to other open areas on the property and compatibility with the look of the house.
 
Legislation is in place which ensures that all enclosures for pools built between 1989 (the first year of mandatory fencing), and 1992 need to comply with the Building Amendment Regulations Swimming Pool Safety Laws.
 
So, owners and buyers of properties with older pools need to be aware of these legal changes to fencing and should contact their local Council or Shire for clarity.
 
Installing a new pool should be approached in a similar way to building an extension. In most cases an extension is made to accommodate a growing family or to provide for a lifestyle improvement.
 
The better extensions are those which are well designed and constructed. This will add value to a property for the right buyer who’s specifically looking for what you might have to offer.

Source: reiwa.com.au

 If you simply require a copy of title for your own records, the certificate of title may be obtained from your local settlement agent or you can apply for one from Landgate.

http://www.landgate.wa.gov.au/corporate.nsf/web/How+to+do+a+Search

In accordance to legislation, any real estate agent who intends to list a property for sale, must obtain a certificate of title in order to verify the true and correct ownership of the property.

The best feedback you can get is from potential buyers, they will give you the best indication of why a property is not selling. Mallison Real Estate will follow up with every home open attendee and provide our sellers with a comprehensive report outlinging all feedback obtained. The reason a property isn't selling will vary but some of the most common issues are to do with pricing, presentation, location, Encumbrances or Caveats on Titles.

Buying

Strata titles are often used in developments of home units and townhouses, which require a facility to incorporate a common driveway in the development and may have commomn property involved (eg common wall or communal use of a courtyard). It is also notable that any alteration to the property may need to be approved by all persons incorporated into the adjoining strata titles.

 Survey strata plans differ to a conventional strata plan in that buildings are never defined on the survey strata plan. This plan is basically for the land only and as such, any buildings (and or facilities) incorporated upon it are of common use unless otherwise stated on the title deed.

 Green Title is another popular form of stata in which sole ownership of the land and house are seperate to the adjoining properties. Any alteration to the property (interior and exterior) require no approval from other owners in the adjoining titles within the strata.

Both sellers and buyers should be made aware of the type of strata as various fees may be associated such as a strata levy. Investors or home owners should note that to alter any strata type would require approval from adjoining strata titles and possibly a strata management committee. A strata management committee (or strata corporation/ body corporate) is required by law to be formed when there are 5 or more properties on the title.

http://www.landgate.wa.gov.au/corporate.nsf/web/Survey+Plan+or+Strata+Plan+-+FAQs

http://reiwa.com.au/Faq/Pages/Words.aspx?Letter=S

Auction

Auction is a process which allows interested parties to make competitive bids which establishes the current market value of the property in an open, transparent and public forum utilising the skills of an experienced Auctioneer.

Real Estate Auctions have become one of the most popular methods of buying and selling property in Australia with substantial benefits for both Vendors and Purchasers. Auction is used as the preferred method of sale by Beneficiaries, Governments, Banks, Administrators, Executors & Trust Companies, Corporations and Private Vendors and has been proven to be the best method of establishing true market value. Committed Sellers sell their property by Auction.

There are a number of advantages for using Auction to sell your property, follow this link for a list:

http://www.mallison.com.au/advantages-of-auction

Renting

When a viewing has been scheduled for a property you will need to click on book inspection under the property address and the time will come up which you will need to register for. Should there be no home open available you can register your details and we will contact you when a viewing becomes available. 

All rental home opens are for 15 minutes from the advertised commencement time. This will give you an opportunity to have a good look at the property and ask any questions. 

Make sure you submit one completed and signed application form for each adult. You must also provide with each application a 100 points of identification this can include:

  • Passport
  • Driver’s license
  • Student card
  • Bank card
  • Medicare card
  • Government issued cards

The SMS you have received is computer generated, if the rent money hasn’t been processed from your account to ours (which can take a few days) you will receive the message. To avoid these messages you may pay your rent a few days ahead of when it is due.

Water bill payments can be made the same way you pay your rent. If you pay your rent via BPay we ask you to pay your water bill in a separate transaction so we can recognize the payment is for your water bill not rent. You can also pay your water bill by EFT (debit or credit).

At Mallison Real Estate we have two dedicated Trust Accountants, our investment property owners are able to make a telephone appointment or arrange a face to face meeting with one of our Trust Account Managers and they will go through the statement ensuring all questions are answered.