Contracts and reports for strata properties

Contracts and other important documents are required and prepared prior to your property being activated on the market. A report’s availability increases the number of interested parties and the competition.

Required documents are:

An agency agreement must be executed by the Vendor and the Agent before any marketing or inspections can commence. It does two things – (1) it allows the Agent to represent you and (2) documents how much they get paid. It is a legally binding contract and it is important that you read and understand it. Attached to the agency agreement is an agreed marketing schedule.

Residential property cannot be advertised for sale until a Contract of Sale has been prepared. The contract must contain a copy of the title documents, drainage diagram and the Zoning Certificate (section 149) issued by the local Council.

STRATA REPORT (provided by the Vendor)
• Seen as Independent, reliable and fair by the potential buyer
• The owner is seen as fair, open and responsive
• The agent is informed and prepared for questions
• There is no delay in the negotiation
• Later buyers can instantly catch up
• Avoid buyers lowering negotiated price or pulling out
• Reduces risk – perceived risk always reduces price

It’s valuable to include a current property improvement quote if required. We arrange for a qualified renovation company to quote for any improvements that could be expected and this will be readily available to any prospective purchasers. This inputs some sanity into a cost of renovation speculation.

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