When buying real estate, particularly for the first time, you sometimes come across some unfamiliar terms, one of them being ‘easement’; we get frequently asked about easements and what they mean.
The legal definition of an easement is “the right to cross or otherwise use a portion of someone else’s land”. Sometimes the easement is perhaps land that contains essential services; buyers can usually find the necessary information on the location … Read the full post »
When that pivotal moment arrives and it is time to sign the contract, as a seller you need to be aware of the failure to disclose a statutory or unregistered encumbrance on the contract, can lead to lawful termination of the contract by the buyer.
Many contracts for the sale of land in Queensland place upon the seller of the land an onus to disclose to the buyer not just any … Read the full post »
Following on from last week, here is Property Terminology Part II, aiming to provide a simple and clear definition of property terms you may come across from time to time.
Strata Title: The formal ownership of a property within a strata plan where the property is defined within horizontal and vertical boundaries, and proprietors have joint rights over the land and common areas.
Company Title: The building and land are owned by … Read the full post »
As property professionals we regularly use specific terminology in our communications, often without spelling out what these terms mean, coming from a place of assumption that people just ‘know’. However, feedback indicates this is not always the case, so over the next two newsletters we have outlined a simple breakdown of some of the most common terms used in the context of real estate.
Appraisal: An estimate of a property’s market … Read the full post »
In the past few week’s newsletters we have reported on price changes in the Mount Coolum area (and surrounds) over time periods, and this data always refers to the median price. What does this mean, and how does it affect the value of your property?
Defined: The median sale price is the middle sales price in a list of sales, over a given period, in a given area, arranged in order … Read the full post »