Calibre Real Estate Answer Your FAQ’S

Alice Hagen

Looking to buy or sell a property in Ashgrove, Red Hill, Bardon or The Gap? Calibre Real Estate are experts in those suburbs and all over Brisbane’s North West

Here at Calibre Real Estate we’ve asked our team of experts to answer some of our most frequently asked questions.

Whether you’re looking to buy, sell or rent a property, we provide some insights to help you along the way.  

Buyer FAQ’s 

What research should I do before buying a home?

Working out your affordability is the first step. Contact a mortgage advisor to see how much you could lend and then start to whittle down the types of properties and areas within your budget. Carrying out due diligence on the property market will provide you with an important understanding of where and what you can buy and how much it will cost.

What are the costs associated with buying a property?

  • Deposit is usually a minimum of 10% of the homes total value
  • Stamp Duty is a charge applied by state governments and relates to the transfer of land or property. The amount differs depending on state and property value. There are also other factors that are taken into account when stamp duty is calculated, such as whether you’re a first-time buyer, if the property is for investment purposes and how much deposit is available. You should use a stamp duty calculator to get an idea of what it would cost for your purchase
  • Lenders mortgage insurance is likely to be necessary if you borrow more than 80% of the property purchase price and it differs according to the cost of the property
  • Hiring legal help such as a lawyer or conveyancer is not a necessity but is more common than not. They carry out several duties on behalf of the buyer including reviewing the contract of sale. They offer additional services like carrying out title searches on the buyer’s behalf too. Standard conveyancing costs start from $900
  • Council rates ensure the neighbourhood services you depend on are carried out, such as garbage collection and sewage. The rate levy is determined mostly by the value of your home. Strata fees are the commercial equivalent and these cover costs associated with maintaining complex, such as the common areas and general building management
  • Moving costs can differ significantly depending on the number of items that need to be shifted and the distance to the delivery site
  • Building insurance is a really good idea, though it is not a necessity. This can cover a whole host of unforeseeable damages to your new home. Prices vary depending upon the level of cover you choose

What are the different ways to buy a home?

·         Private treaty is when the vendor or homeowner sets the price they would like to achieve for their property and their real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible

·         Auction is a public sale conducted by a licensed auctioneer. Properties are offered up for bid and if the reserve price is reached then the property is sold to the highest bidder

·         Tender and Expression of Interest are both processes whereby the buyer submits a single offer, often accompanied by a deposit, which is then presented to the vendor for consideration

Seller FAQ’s

How long should it take to sell my house? 

It is difficult to estimate how much time it will take to sell your house because it’s dependent upon a number of circumstances.  The biggest factor is achieving a satisfactory price for both buyer and seller.

Can I sell my house by myself?

In short, yes.

However, there are many reasons why people generally engage the services of a realtor.

Aside from the obvious expertise in marketing, negotiation and selling that a real estate professional provides, most sellers also prefer not to deal directly with the buyer.

If buyers know you are not using an agent, they can attempt to capatilise on the situation. This might lead to a lot of work and pressure on your part, without achieving the highest end sale value.

Should I sell via auction or private sale?

Auction generally proves to be effective in selling in the shortest possible timeframe. However, private sale often provides a better return for sellers who aren’t in such a rush to sell up.

  • To find out more about selling your home you can check out [Preparing To Sell Your Home In Brisbane] and [Selling Your Home For Maximum Profit].

Landlord & Investor FAQ’s

Do I need a property manager?

It is not essential to hire a property manager to take care of your investment property. However, the value of their services can be priceless. Quite frankly, a good property manager can play a pivotal role in the success of your investment.

To find out more, you can check out [What To Expect From A Property Manager].

Is landlord insurance necessary?

Landlord insurance protects you from damages and many other unforeseeable circumstances. Though it isn’t a legal requirement, it will help save you if unexpected costs crop up.

How do I switch from my current property manager?

The process to switch to a new property manager is quite simple. Once a decision is made, you must notify your current agent and depending on your agreement with them, you may need to put something in writing. If you decide to switch to Calibre Real Estate, we can arrange all the necessary documentation so that the process is hassle free for you.

We’re here to answer your questions

Whether you’re looking to buy, sell or rent, we can help you.

We proudly cover Brisbane’s North West, including Red Hill, Ashgrove, Bardon & The Gap.

You can reach us on 07 3367 3411 or by checking us out on social media.

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