Frequently Asked Questions and Tips

As a buyer, making an offer is one of the trickiest parts of the bidding process. It’s a challenge knowing when you can give your highest upfront offer or smallest bid in order to steer the negotiations in your favour. That’s why you should be aware of the pros and cons of each decision.

A seller will only be able to put a property on the market if there is a contract of sale. This contract will serve as your reference as it contains the terms and conditions of the sale.

A contract of exchange is created when the seller commits in buying your property or when you have committed to buying a property for sale. This contract of exchange is prepared by a conveyancer, a solicitor or a settlement agent.

When the contracts are exchanged, you are required to hand 10% of the selling price to the seller’s solicitor or settlement agent and will be placed in a trust account.

In case you want or need to withdraw from the contract, you are free to do so within a certain period of time. The cooling-off period, which during 3 to 5 working days after the contract is exchanged, gives the freedom to buyers to decide of pushing the deal or cancelling it without loss. This cooling-off period does not apply for buyers and sellers in an auction.

The property is considered sold when you have already settled the payment, which includes the property price and other necessary fees, and the title and transfer of documents have been exchanged. Usually, settlement takes place 2 to 6 weeks after contracts have been signed by yourself and the seller.

Stamp duty is a government tax that is worth a percentage of the property’s market value. The state tax is included within the amount to be paid during settlement. However, the amount varies according to territory or state. Ask your real estate agent to know more about this.

The first step in participating in an auction is getting pre-approved. Getting pre-approved allows you to bid within your means since you know how much you can spend.

As a buyer, if you’re interested in a certain property before it goes to auction, you can get a copy of its sales contract from the real estate agent handling the property. With this, you can now start doing small negotiations. But, before proceeding to make negotiations, make sure to get legal advice to ensure the validity of the contract.

Researching different market prices and comparing it with past market values gives you an idea if the property you are eyeing at the auction is well-priced or if you can sell it in the future and get capital growth potential in store for you in 5, 10 or 15 years from now.

Aside from knowing if the property’s neighbourhood fits your requirements, you should also inspect the property. Take note of all the property’s defects you see during the inspection. This will help you see the cracks of the property and if it is worth your money or not.

It is an advantage if you consider the bidding process of the auction as a business deal. This will help you consider your options and come up with a clear investment decision.

If you are finding it hard to control yourself in bidding or easily develop an attachment to material things, ask the help of your family members or close friends to help you think clearly during an auction. They can help you in making a clear and practical decision you will not regret.

We are proud to say that we have a good grasp of the industry’s ins and outs through our years of experience with clients. If you choose the National Brokers Network, you can be sure that our agents will do their best to give you the highest price possible for your property.

The National Brokers Network’s website is a modern-day tool that helps property sellers get a wider exposure and buyers find the best deals for them. The new website, which is dressed with a purple and green colour, offers user-friendly navigation and in-depth information to provide prospective buyers with the information they need with ease.

We always invest with our agents, providing them training on the best selling techniques and the latest in marketing strategies. National Brokers Network firmly believes to become a professional real estate agent is learned.

Listing your property with National Brokers Network allows exposure to local and international clients, unlocking more opportunities in selling your property. We offer clients a direct and cost-effective way of marketing their properties to the world.

Brand recognition

There is an increase in demand for private and rented housing all thanks to the increase in the investment opportunity in the real estate sector. If you want to take advantage of this increase, you can seek the guidance of National Brokers Network.

We have been serving clients for years regarding property management services, making us the practical choice for small portfolios and individual, institutional & large-scale landlords. Aside from this, National Brokers Network also offers accounting services. Currently, we have more than 5,000 clients located within Victoria.

As a client, we respect your specific requirements and National Brokers Network upholds values that trained us to provide a tailored-fit experience for our clients. Our knowledge and experience in IT, performance reporting and full-documentation systems have helped us create cost-effective and hassle-free property management strategies that provide you with maximum results.

National Brokers Network’s residential management team assures clients with professional and easy-to-understand explanations about your investment, thorough inspections to protect your investment, and immediate rental payments to deliver an equally immediate return on your investment.

Need help for all your property management needs? Call National Brokers Network at  9226 9222 for us to assist you with your needs..