Buyer and Seller Information

Buyer & Seller Information

Buyer Information

Preparing To Buy

  • Decide what you would like to purchase in terms of size, location and price.
  • Register your name and requirements with estate agents and ask them to let you know when suitable properties become available.
  • Attend auctions and private sale properties open for inspection.
  • Check The Age or Herald Sun each weekend for sales and auction results.

Regularly check local and daily newspapers plus the following web sites:

Inspecting A Property

  • Consider having the property inspected by a builder or architect to assess whether there are any defects that might affect your decision.
  • Look at the location and style of the property in relation to your requirements i.e. size of the property, proximity to schools, access to public transport etc.
  • Once you have found a property, ensure you view the home during the week as well as on the weekend.

Organising Finance

  • It is vital that you organise your finance before making an offer or bidding at an auction.
  • Make arrangements to cover the deposit prior to making an offer to purchase or prior to bidding.
  • Arrange to have the appropriate mortgage funds available for settlement.
  • Confirm with your financial institution or bank the amount they are willing to lend you and calculate this with your capacity to repay.
  • Home loan interest rates can move up and down, so you need to allow some leeway in case this should happen.

Vendors Statement (Section 32 Certificate)

  • Section 32 of the Sale of Land Act requires the vendor to provide a statement about the financial, legal and planning details of the property, before a contract of sale or contract note is signed.
  • The vendor and purchaser must sign the section 32 before the contract is signed.

Making An Offer

  • The agent is duty bound to submit all offers to the vendor.
  • The property remains on the market while the vendor considers all offers. If your offer is the first one submitted it doesn’t necessarily mean that it will be accepted.
  • You can make an offer that may include a date by which it will lapse if the vendor does not accept it.
  • An offer may be made subject to a finance clause i.e bank approval, sale of an existing property or another condition such as a builder’s inspection.
  • You can make your offer conditional on certain items being included or excluded from the contract. Any special conditions such as these must be written into the contract.
  • An offer is not legally binding on both parties until the buyer and seller have signed a contract of sale or contract note.
  • A contract of sale or a contract note must contain details of the property, the price, the deposit and settlement terms.
  • The agent is not obliged to give you another opportunity to increase your offer.
  • It may be worthwhile making an offer for the property before it goes to auction as this gives you an opportunity to negotiate through the agent and perhaps to stipulate any particular conditions you require in the sale.

Cooling-Off Period

  • You are entitled to a cooling off period of three business days. This means you are legally allowed to withdraw from the contract if you change your mind during this time.

Exceptions To Three Day Cooling Off Period

  • The property exceeds 20 hectares in size and is used mainly for farming.
  • The property is used mainly for industrial or commercial purposes.
  • You received independent advice from a solicitor before signing the contract.
  • You previously signed a similar contract for the same property.
  • You bought the property at or within 3 clear business days before or after a publicly advertised auction.
  • You are an estate agent or a corporate body.

Cancelling The Contract Within The Cooling Off Period

  • Should you cancel the contract you will be required to provide written notice to the vendor or the vendor’s agent within the cooling off period.
  • The Purchaser is entitled to a full refund of all money paid, except for $100.00 or 0.2% of the purchase price - whichever is greater.

Costs Associated With Buying A Property

  • Legal/conveyancing fees.
  • Government stamp duty on the transfer of property.
  • Stamp duty on the mortgage.
  • A loan application fee.
  • Property insurance.
  • Adjustments such as council rates and water rates.


Please note this is general information only. You may wish to contact your solicitor for specific advice prior to buying.

If you would like to provide your requirements and contact details we will advise you when a suitable property becomes available.

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Seller Information

After gaining extensive real estate experience of some 13 years at various large real estate agencies in the Eastern suburbs of Melbourne, Karen decided to open her own real estate office. The business commenced in 1993 with an objective to provide the highest standard of professional, personalised and accountable real estate service in the Eastern Suburbs of Melbourne.

Karen Gornalle & Associates take enormous pride in offering a unique VIP service to each client. The company’s outstanding work in the industry has been acknowledged for their unrivalled success in marketing and selling property and their sophisticated property management services. Recognition has been received by several sales and property management awards from the Real Estate Institute of Victoria.

REIV Awards Received By Karen Gornalle & Associates

  • 4 Best Residential Marketing Awards
  • 1 Property Management Award

These awards are highly sought after by many agents in Victoria and judged on the agencies overall marketing strategies, free editorial content, budgeted advertising, descriptive text, quality photography and finally the price achieved. Our personal attention to every detail assures our clients of successful, award winning advertising.

The company offers a balance of skills lead by a husband and wife team - Michael & Karen Gornalle. All staff at Karen Gornalle & Associates are highly trained and experienced and takes great pride in keeping fully informed of changing legislative amendments. Over the years Karen has held various board positions at the Real Estate Institute of Victoria and currently holds a board position at the State Governments Justice Department.

Sensational Sales Results

Karen Gornalle & Associates are most pro active when engaged to market property listed for sale or auction. We have an unrivalled sales success rate in selling all properties listed with our agency. The sales team’s extensive experience, personal service, attention to detail and negotiation skills all contribute to the company’s achievements and great success for our clients.

One On One Inspections

We maintain a large databank of qualified prospects keen to purchase a property, this is updated daily. We initially offer your property to our prospects at the arranged quote price and organise a personal one on one inspection. We always make ourselves available to assist each client.

Open For Inspections

On the other hand, most people today seem to be time poor and prefer to inspect properties without the inconvenience of having to book an appointment with an agent. Therefore, we also conduct scheduled open for inspection times. We recommend the open for inspection time should be scheduled at the same time each week on Thursdays and Saturdays. It is important to schedule the time to best show off your property's assets allowing for sunlight, traffic, noise etc. This is generally carried out by two experienced estate agents from our agency.

Names and telephone numbers of all people entering your property are recorded for security reasons and also to follow up potential buyers to receive buyer feedback, offers etc.

Auction Or Private Sale

We specialise in selling property by either auction or private sale to suit each particular vendor, the property and their circumstances. There are pros and cons for both methods of sale. However, research has shown that more than 90% of buyers prefer to purchase by private sale.

Where Do Purchasers Look To Purchase Property

Today with the advent of the internet in excess of 90% of prospective purchasers will search for a property to purchase via one of the following sites:

As a faster moving agency, our technology ensures your property is displayed on the internet literally the minute your photography has been completed. This technology ensures prospective purchasers the ability to view your property from anywhere in the world.

Advertising

We are constantly developing new strategies for marketing incorporating innovative advertising with creative style therefore ensuring all properties marketed by Karen Gornalle & Associates stand "head and shoulders" above the rest. Our award winning advertising is prepared by our most experienced staff ensuring each advertisement is correctly written to target the right marketplace.

Whether you decide to sell by auction or private sale, we prepare a specialised marketing schedule within a set budget to suit each property. This incorporates all promotional content including the board, brochures, local paper, The Age newspaper and internet advertising. We have great expertise in maintaining advertising budgets to an absolute minimum cost to all vendors without jeopardizing the final sales result.

Free Editorial Coverage

We generally receive one free editorial per property and have even obtained as many as seven free editorials for certain property. Upon listing your property for sale, we would forward several colour photographs and editorial text to the following newspapers requesting a free editorial feature.

  • The Age
  • The Sunday Age
  • The Domain
  • Herald Sun
  • The Financial Review
  • Herald & Weekly New Home Magazine
  • The Weekend Australian
  • Leader Newspaper
  • Melbourne Weekly

Presentation

A well presented home says "welcome" and should reflect the lifestyle buyers often dream about. It does not have to be a "show place" but it should appear clean and comfortable and smell fresh and free of any odours. First impressions count and will contribute to the number of prospects wishing to view your property and will result in the final price achieved. Experience shows that vendors who make the extra effort in presentation usually achieve a quicker sale. As an added service, at no extra cost, we would be pleased to inspect your property and advise you on correct property presentation to maximise the sale price.

The Outside

  • Look at your home as if you were a buyer. First impressions are lasting impressions.
  • Remove any junk mail from your letterbox.
  • Have all minor repairs done. Sticking doors and windows, loose door knobs, faulty plumbing, peeling paint etc. may affect your sale. Make sure all gates open easily.
  • Arrange outdoor furniture so that it looks inviting.
  • Tidy flower pots and have plants looking healthy and watered. Trim shrubs, mow lawns, weed flowerbeds, sweep leaves etc.
  • Put instant colour into your garden by planting annuals.
  • Clean out the gutters, wash windows, doors and awnings.
  • Spread gravel on unsealed driveways and lay pine bark on unsightly surfaces.
  • Sweep (pressure clean if necessary) driveways and patios. Remove any washing from the clothes line.
  • If you have a pool, make sure it is sparkling clean.
  • If you have a dog, take it for a walk during inspections.

The Inside

  • Healthy indoor plants in various rooms or freshly cut flowers can be an added attraction.
  • Oil squeaking doors, ensure the front doorbell works and all doormats are clean and in position.
  • Repair dripping taps, fix loose or broken tiles and ensure all tiles, showers, hand basins and baths are clean and free of mould.
  • Open all curtains and blinds to allow as much light in as possible. This will make your rooms appear more spacious.
  • De-clutter and remove any unwanted furniture.
  • Spring clean your house internally including inside all kitchen cupboards and built in robes in the bedrooms.
  • Ensure the kitchen sink and kitchen bench tops are free of unwashed dishes.
  • Touch up paintwork, walls should be free of marks, blue tack, etc.
  • Vacuum carpets throughout and steam clean if necessary.
  • Remove kitty litter trays and any cat or dog food bowls.
  • Present your bedrooms with your best bed covers and place cushions or soft toys on the childrens beds.
  • Lock valuables and personal items away.
  • Arrange a fruit bowl of fresh fruit on the kitchen bench.
  • Internally your house should be gleaming and should smell clean and look inviting.

Remember

  • Turn on some classical music, open the blinds and curtains, turn on lights or lamps and leave the house during open for inspection times.
  • Be prepared to allow your agent to show prospective purchasers through your home at all reasonable times.

Fees

Fees have now become deregulated and are negotiable at the time of signing the authority. You will be surprised at how little the right service and advice can cost.

Vendors Statement (Section 32 Certificate)

Section 32 of the Sale of Land Act requires the vendor to provide a statement about the financial, legal and planning details of the property, before a contract of sale or contract note is signed. The vendor and purchaser must sign the section 32 before the contract is signed. It is recommended that you arrange for your solicitor to prepare the section 32 prior to commencing the marketing.

Market Trends

Our extensive research into current and future market trends is enhanced by our utilisation of the comprehensive resources at the Real Estate Institute of Victoria (REIV) who are known for their research.

The REIV data is also forwarded to the Reserve Bank, the ABS, the Commonwealth Department of Treasury and most major banks who rely on the information for their publications and reports.

We also monitor forecasts from BIS Shrapnel regarding market fluctuations in median house prices.

By analysing recent sales results, median house price surveys, market patterns and independent economic advice we are able to formulate effective sales and marketing strategies personally tailored to suit each individual property.

For superior results and a free market appraisal please contact
Karen Gornalle 0418 330 808 or Michael Gornalle 0417 568 806.

 

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