Private Sale $500,000 to $550,000
IDEALLY POSITIONED AND GREAT POTENTIAL - 40 Middleborough Road, Burwood East

Attractive 3 bedroom plus study home located in most sought after area with Deakin University just a short tram ride away and walking distance to Burwood Heights Shopping Centre and bus and tram on Burwood Highway.

Don’t miss this opportunity to secure this lovely home with lots of potential to improve and which is on a generous block of approx 582m2 of land. The property has been updated making it a very comfortable home comprising 3 bedrooms (2 with BIRs), and a study. The modern kitchen/meals area includes a gas cooktop and Stainless Steel underbench oven. Formal lounge, central bathroom with shower, laundry.
Also features gas ducted heating, polished floor boards throughout, gas hot water, security door, garden shed and single garage with roller door.
Is currently leased at $370pw.

Mel Ref: 61 F7
Private Sale: $500,00 to $550,000
Inspect: By Appointment
Contact: Michael Grinholz 0418 323 389

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Renting Tips
27-Jun-2009

The REIV’s latest statistical release on the residential rental market showed that vacancies are still at the lowest point for many years.

In what can be described as the tightest residential rental market for a long time, competition can be intense. Following are a few tips that may help you find and secure yourself the right property in this type of market.

Firstly you must consider your search criteria. Factors include location, features of the property, and price. If you can’t find exactly the property you want then look in the neighbouring suburb or for a slightly different type of property. There are various property portals which can help, such as ww.realestateview.com.au.

If you are interested in a property, you should then make sure that you have all the information that you need to apply for the property. You will need your personal identification, referees and details about prior rentals. Written references, with contact details from previous estate agencies may assist in speeding up the process.

It is important that you complete the application form in full. If a landlord has a number of applications they will pay more attention to the complete one.

In this market don’t be afraid to apply for more than one property. However if you are accepted for a property, be sure to immediately withdraw your application for the other properties. Visiting agencies in the area you want to live in and introducing yourself is a good way to make you stand out from the crowd when you actually apply. Finally, you should also obtain a copy of ‘Renting a home. A guide for Tenants and Landlords’ it is available in a number of different languages and can be downloaded by visiting www.consumer.vic.gov.au.
Source: REIV

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What happens when a property is passed in at auction?
21-Jun-2009

In recent weeks, auction clearance rates have been at levels not seen since the spring of 2007, so it is timely to offer some tips about the auction process.

Arrive in sufficient time beforehand for a final walk-through of the property and to allow you to check the contract, vendor’s statement, information about auctions and the auction rules, which will all be on display.

Pay particular attention to the rules. They tell you how the auction will be conducted. One rule of which it is especially important to be aware: if the reserve is not met and the property is passed in.

If the auctioneer passes in the property below the reserve price, the owner will first negotiate with the highest bidder. If you have participated in the bidding, or have been sitting back watching how it is progressing, and the auctioneer announces the property is going to be passed in, it is a good strategy at this point to bid up to obtain the right to first negotiate with the owner.

Securing the right to negotiate first does not cost anything and you have created a contract between yourself and the owner entitling you to negotiate before anyone else.

Your contract comes into existence the moment the auctioneer concludes the auction by passing in the property. Once the property’s passed in, it is too late to shout out a bid in an attempt to get to the front of the negotiating queue. The auction is over.

You have missed out on securing the right to negotiate first. The auctioneer can’t re-open the auction to accommodate your late bid and override the right someone else has secured ahead of you.
Source: REIV

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