Who should I notify about my change of address?

So you’ve bought or sold a property, but who do you need to notify about your change of address?

There are a myriad of government departments, businesses and services that you’ll need to notify when you have a change of address.  It  can be overwhelming when you think about where to even start!
First off, when you use Bliss Conveyancing we’ll take care of your local council and the Water Corporation.  Cross those off your list!

Let’s start with Australia Post!

The easiest way to ensure that you don’t miss any important mail during your move, is to set up a mail redirection with Australia Post.  You can choose to redirect you mail from your old address to your new address for one, three, six or twelve months.  At time of publishing this blog, mail redirection starts from as little as $33.25

We recommend going with the twelve month option, just in case you miss updating your details on any bills that only come annually.

To get started, head to the Australia Post website at least one week before you plan to move house, and fill in the simple form.

Next, lets get your essential services set up!

Think about the utilities and service connections you’ll need as soon as you’ve moved in.

Around 10 days out from your moving date, start making arrangements with the following:

• Gas– give your current gas company a call and let them know you’re moving house. You don’t necessarily need to stay with them at your new property. Check out their prices, and compare to the other gas companies available in your area.
• Electricity– give your provider a call or jump on their website to notify them of your moving date. They’ll arrange it so that your new account is all set up and ready to go when you arrive at your new home.
• Telephone & internet– if you have a landline, you may find that depending on the distance you’re moving, that you may not get to keep your existing number. Again, you can give your current provider a call or go on their website and notify them of your change of address. They’ll transfer your account over to your new property, and if need be, allocate you a new number or service, depending on availability in the new suburb.

There are a few government agencies that you can’t forget to notify!

Since you’ve got your mail redirection set up, don’t stress if you don’t quite get to notifying these agencies until a week or two after you’ve moved.

Many of these agencies offer online portals where you can login and change your details quickly & easily without a need to call. We’ve linked to many of them to help you out!

• Australian Electoral Commission
• Australian Taxation Office
• Centrelink
• Medicare
• Child Support Agency
• Service NSWfor both Drivers Licences and car registration
• Local Council – just for any pet or home business registrations, as we’ve already taken care of the rates for you
• Seniors Card
• School, TAFE & University for you and your children
• Veteran’s Affairs

Next, we’ll look at your banks and other important private organisations!

Again, many of these will give you the ability to notify of your change of address via their website. Check with your preferred providers directly.

• Accountant & Financial Advisor – they may also be able to assist you with changing your address with some insurers and financial institutions
• Banks – think about all your transaction accounts, savings accounts, term deposits, home loans, credit cards, personal loans & car loans.You may find you need to advise multiple banks or financial institutions of your change of address.
• Charities you donate to regularly
• Childcare & after-school care services
• Dentist & orthodontist
• Doctor (including any specialists that you deal with)
• Other health providers including physiotherapists, podiatrists, optometrists and naturopaths
• Employers
• Gym & sports clubs for you & your children
• Insurance companies – think about all your insurances, including car, home building, contents, health, life, income protection as you’ll probably find that there are a few insurers that you need to notify.
• Local libraries
• Loyalty programs such as frequent flyers, FlyBuys, Woolworths Rewards, Myer One etc
• Newspaper & magazine subscriptions
• Security systems, including transferring monitoring to your new property, if needed
• Superannuation funds
• Unions
• The family Vet, who should also be able to assist you with changing your pet’s microchip registration to reflect your new address
• Any clubs or associations that you’re affiliated with

Congratulations – you’ve now completed your change of address!

Last but not least, don’t forget to let your friends and family know your new address so they can send you a housewarming card!

Relax, and know that if there’s the odd business you’ve forgotten to notify, your mail redirection will remind you. Any mail that gets redirected will be clearly marked for you so that you can then contact the sender to update their records.

Bliss Conveyancing is your local conveyancer. We will keep you informed at every step of the settlement process, so you won’t have to worry about getting enough notice to advise all of these agencies & businesses. Give our friendly conveyancers a call today and see how simple and stress free we can make your moving house experience!

Handy apps when buying or selling your home

If you’re looking to buy or sell property, why not use technology to make your life a little easier?  Bliss Conveyancing has compiled a list of handy mobile apps that allow you to search ‘for sale’ listings, assist you in decoding real estate terms and help you to find the best deal for your home finance.

CommBank Property Guide

Price: Free

This CommBank app compiles key features such as property listings, affordability calculators and market insights to give you a complete picture of your property search.

Sellers can use the app to compare listings in their suburb and surrounding areas and ensure that their price expectations are realistic.

Buyers can arm themselves with information about the estimated market value, suburb trends and deposit requirements, so that they can enter price negotiations confidently.

 

realestate.com.au & homely.com.au

Price: Free

Realestate.com.au’s app allows buyers to input your ideal property requirements (such as location, number of bedrooms, price) and return a list of properties currently on the market.

You have the ability to save your searches, as well as individual properties for future reference, and view a schedule of upcoming home opens.

To further help you organise your property search, you can turn on notifications to be alerted when a new property is listed or an inspection is scheduled.

Another similar app, Homely allows you to compile listed properties into ‘collections’ and share them with friends & family.

Stamp Duty AU

Price: Free

Stamp Duty AU is a calculator app that allows you to input the property’s purchase price and particulars, such as the property usage, whether you’re a first home owner and the type of property, to accurately calculate the Transfer Duty (previously known as Stamp Duty).

This app also calculates the government registration fees, payable to Land Register Office, to give buyers a complete picture of the regulatory costs associated with their property purchase.

Mortgage Choice Loan Helper

Price: Free

The Mortgage Choice Loan Helper app allows buyers to take control of their finances, and ensure that the property they purchase is within their means.
The app allows buyers to input their income & expenses, to then calculate their borrowing power.

Buyers can also input a loan amount to calculate their repayments and ensure that the proposed loan fits within their budget.

 

We know that looking to buy or sell your home can be stressful. But with these apps you can make the experience simpler and less hectic. And once you’ve found your perfect property, Bliss Conveyancing will take care of the legal side of things.

 

Article contributed by Joshua Devitt – Herron Todd White

Property valuers are instructed by Legal Professionals to complete a range of valuations for legal purposes. Valuations for legal purposes include, but are not limited to, Probate and Estate matters, Litigation support, Family law and partnership dispute settlements, stamp duty and family transfers valuations.

A valuation, as defined by the Australian Property Institute (API), is an “evidence based process for assessing the monetary value of an asset at a specified date, that is legally defensible and undertaken by a qualified professional valuer…”

Value may have various definitions such as market value, fair value, indemnity value, market value in accordance with statutory requirements or assumptions. However, the one most often quoted and used for real estate purposes in Australia is Market Value. Market Value is defined by the International Valuation Standards Committee (IVSC) and has    been adopted by the Australian Property Institute (API) Inc. as:

“The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arms length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.”

 

Often confused are the different meanings for the terms ‘value’ and ‘price’. While ‘value’ is what a typical person would pay for something, ‘price’ is what someone actually paid. The market value of the subject property needs to be supported by comparable sales evidence within the valuation report.

The Direct Comparison Approach is considered the most appropriate methodology for valuers to assess the market value for a single use residential property. In this approach the property to be valued is directly compared to recent sales of similar properties and takes into account the effect that individual features have on the overall property value. The valuer analyses comparable sales for similarities and differences with the subject property and makes the necessary adjustments based on their knowledge and experience.

Factors such as location, land area, size and age of dwelling, views, topography and ancillary items are all taken into account in analysing comparable sales with the subject property. Some of these factors for comparison can be seen as either objective (IE: land area, zoning) or subjective (IE: location, view, street appeal). In establishing market value all valuations value have an element of subjectiveness to them as, generally speaking, no two properties are identical.  The practise of valuation is regarded as an art and not a science.

 

 

Searching for a moving company can be a difficult task, as there are dozens of them. They all claim to be the best and they all claim that they have what it takes in order to make your move into a new home a much easier process than you imagined. However, how can you be sure that you choose the right company? Searching the internet for good movers can help through finding positive reviews on review sites. Most removalists will post reviews on their website, but you can also find independent review websites for an aggregate rating to guide you on choosing the right removalist. Remember one negative review should not outweigh all the positive ones. The upset reviewer may have even had their complaint fixed and the complaint not even relevant anymore.

Also, further clues can be found on the reviews like how long the removalist has been operating by date of reviews. The longer a company has been operating generally means they have more experience and customer trust. Usually, a mover’s website will also say the number of years they have been in operation. It should be a source of pride and advertised as such. Always be wary of removalists that have changed names for no particular reason, as they may be trying to distance themselves from bad reviews or negative associations.

 

CHOOSING THE RIGHT MOVER AND PACKER

Once you have narrowed your search for a good removalist you can find one to suit your needs. For instance, you may want a removalist that just offers the simplest of moving services or one who offers many different packages.

• Full packing service – some moving companies provide packing teams that come to your home and pack all your belongings. And can even unpack and set up your home or office.
• Moving Box System – do you want to have boxes dropped off and collected? Are you providing your own boxes? Some removalists even have eco-friendly packing boxes that stack to make moving easier. Look at the options on offer to help select the right removalist for you.
• Removalists Teams – What will suit you best, one or two removalists or would you like more to speed up the moving process. Ask the removalists the number of people they send and if they offer extra personnel if required.
• Packing System  – Ask the movers if they have a system to move your possessions. Do they label the rooms or boxes to keep organised or do they require you to label and organise boxes for moving? This will be telling in how experienced the movers are – good removalists always have a moving system!
• Reviews and Testimonials – Does the moving team you are hiring have a number of positive (or negative) online reviews. These shouldn’t just be on their own website but a number of local review websites, including Google and Facebook 

 

Experienced Movers Make the Best Moves  

There are a lot of questions that require answers from you and from the company that you are planning to hire. This is the reason why before actually hiring a moving company, you need to have all the answers to these questions. Choose a company who puts experienced packers at your disposal; you need to make sure that all your belongings are packed in an organized way. Unpacking and arranging everything in the new home is going to take a very long time if you can’t find a lot of things because you have no idea in which boxes they are.

Experienced packers will know how to avoid such a situation, so choose a company that has excellent recommendations. Asking for recommendations from a friend is very important, as this is the way in which you make sure that you don’t make a mistake when you hire a moving company. If a friend or someone in your family can strongly recommend a moving company, then call them up and ask more questions to back up the positive reviews.  The right company that will help you save money and time by sending you experienced movers who know everything about packing, transporting the belongings, unpacking them and arranging them in a new home.

 

DON’T MAKE THESE MISTAKES WHEN MOVING

Not getting quotes from three removalists – It is worth it to get at least three quotes to help you select the best mover for you. Compare price and how well they completed the quote process. It’s not necessarily the cheapest removalist that is going to be the best. Did the company ask thorough questions to provide an accurate quote? Was there an estimator to gauge the size and logistics of the movie? All of this will show you the experience and reliability of the removalist.

Be unsure of you will be charged hidden or extra fees – Ask the movers about any extra costs not included in your quote. Ask them to clarify any special charges or clauses listed on the quote. This may be in reference to you being charged for not being packed on time or the boxes not packed properly. Or even charging for off-street parking for the truck or the number of flights of stairs to your apartment.

Not Asking Questions – You are not the expert in moving, so make sure you ask the experts!  A good, reliable mover should give you all the information you need – they are the experts. But not every move is the same and there may be information the mover doesn’t provide that you need to know. Ask the following questions for more clarification.

• Do they use subcontractors?
• Ask what insurance or liability they provide?
• Ask for referrals or recommendations of previous clients
• Ask if they provide extra services and what is included in a standard move service

All of these questions should help paint a clear picture of the removalists experience and reliability. For example, if they answered yes to subcontractors this can tell you they don’t really manage your move closely and not take responsibility for any issues. And if can’t clearly state insurance or liability covered/offered by their business – steer clear!!

 

 

In the 1850’s Robert Richard Torrens a South Australian statesman devised a system to simplify the cumbersome Land Title registration procedure, which was based on the old British system. This “Old System” consisted of a chain of documents/deeds detailing the lands past and present ownership and mortgage history. This bundle of documents could be quite bulky and was usually tied together with pink cotton ribbon. It is thought this is where we get the term “Red Tape”.  

3 Steps to Purchasing Property

No matter if you are a first time buyer or an experienced property investor. Purchasing property is without doubt one of the biggest things you will do in life. Establishing a reliable specialised network of professionals will be extremely beneficial to you as a purchaser.

Such professionals to include in your network include:

• Licensed Conveyancer
• Real Estate Agent/Buyer’s Agent
• Pest & Building Inspectors
• Mortgage Broker
• Now you are prepared to begin searching for your ideal property.

Step 1: Pre-purchase Due Diligence

Once you have identified a property that meets your criteria and before an offer is submitted to the Vendor’s Agent, it is extremely important that the appropriate due diligence is carried out. Ask your Conveyancer to review the Contract of Sale (Bliss Conveyancing will review any contract at no charge). Reviewing the Contract of Sale will enable changes to clauses within the Contract i.e. the deposit amount, the settlement period or negotiate with the Vendor’s Conveyancer to have clauses added/removed.

It is a significant advantage to have unconditional loan approval from your financial lender. This is a result of meeting the lending criteria established by the lending institution and will identify amount of money the lender is prepared to lend you.

A pest inspection report will identify any previous pest activity that occurred within the property. A building report will highlight any structural issues the property may have or may arise in the near future. At Bliss Conveyancing we encourage all of our clients to ensure the plumbing and electrical resources also be inspected as these areas are generally not included in the building report.

If it is a strata property being considered for purchase, a strata report should also be obtained. This will recognise the owner’s corporation financial and operational issues including; quarterly levies, any special levies (if applicable), minutes from previous owner’s corporation meetings and ongoing maintenance activity.

Step 2: Exchange of Contracts, Stamp Duty & the Cooling-Off Period

If the Vendor accepts your offer, contracts will be signed and the deposit will be required (generally 10 % of the purchase price). Bank cheque, Electronic Transfers of cash or deposit bonds are common methods used to pay the deposit. After this, contracts will be exchanged and the cooling off period begins.

In NSW, a cooling-off period of 5 business days typically applies. During this time, you can withdraw your offer and opt out of the transaction. If you do however, you must pay the vendor 0.25% of the purchase price (or $250 for every $100,000).

Be especially aware that some contracts may include a Section 66W Certificate. This means the Certificate, once signed by your Conveyancer, will waive the cooling off period. There is also no cooling off period if a residential property is purchased at auction. This is why you need knowledgeable professionals in your corner. Your Conveyancer will inform you and review any Contracts of Sale.

Stamp Duty is also payable. This will be required before settlement or within 3 months of exchange of contracts, whichever occurs first. Your Conveyancer will ensure this happens.  The Revenue NSW website has a Stamp Duty Calculator if it interests you.

Step 3: Settlement

This is the conclusion of the purchasing process where the title of the property is officially transferred to the new owner and the keys are finally handed over with the outstanding balance on the purchase price to be paid at this time too. You are not required to attend the settlement, the Purchaser and Vendor’s Conveyancers will be in attendance as well as the discharging and incoming of mortgages.

An exciting new aspect for settlement is the electronic settlement process which will become mandatory for all conveyancing matters on the 1 July 2019.

Contact us today for a no-obligation complimentary initial consultation.

 

 

 

Before proceeding with any transaction, it is important to know exactly what it is going to cost, selling a property is no different. We have come up with the standard costs associated with selling a house.

• Fees and charges payable to discharge any loan
• Real Estate Agent’s commission and charges for advertising etc.
• Rates and taxes adjustment for the period you own the property
• Moving costs
• The balance of loan repayments
• Conveyancing costs and disbursements (typically)

o    Bliss Conveyancing Professional costs

o    Title search

o    Zoning certificate from the council

o    Drainage diagram

o    The fee to arrange discharge of mortgage, when necessary

o    Swimming pool inspection certificate

There are also voluntary costs which sometimes are called “hidden costs” They’re costs you don’t think about when you put your house on the market. However, they’re costs that can actually pay big dividends. So, what are these voluntary or “hidden costs”?

• House cleaning – from $50/hr – is a pre-sale must for every home
• Repair anything that needs repairing
• Does your interior or exterior need painting?
• Renovations, such as bathroom or kitchen upgrades, can pay more than their cost when you sell your home – but be careful not to overcapitalise
• Garden maintenance: your street view is important and your backyard should be tidy
• Home staging is an increasingly popular option
• Removalist

Recent changes in the property market have created an opportunity for First Home Buyers to get into the market. Especially those with deposits ready.

According to Domain’s Property Price Forecast, property prices are expected to remain relatively flat in capital cities for 2019, this gives purchasers a little breathing room – something they have not had in many years.

First-timers are also facing less competition from investors as they leave the market due to tightened lending restrictions and reduced opportunity for short-term capital growth. 

I sat down with Bliss Conveyancing’s Principal, Judy Bliss to ask her advice to first-home buyers looking to get their foot in the door in 2019.

Tip #1 Seek and understand your borrowing power before going too far into your search. Keep in mind recent changes to the lending means what you could have borrowed six months ago is not what you’re going to be able to borrow today.

Tip # 2 Be clear on the price of property in the area you want to buy

Tip # 3 Ensure the property has the best prospects for growth – It’s really important that your first property selection right, remember this is the property that is going to help you up the property ladder. When selecting a property Judy recommends it should be open planned, have good natural light and outdoor space and when looking for a suburb, it should be close to schools and transport. If you’re looking at purchasing an apartment it is important to make sure it is well located in terms of amenities and public transport. A car space is also important whether you need it or not. Remember this is a feature a future buyer would for and therefore affects the resale value.

Tip # 4 Your first property doesn’t have to be your home for life, buy something you can afford. You most likely will not be able to tick off all your wish list items on your first property. However, Judy recommends considering how long you will live in the property and looking at what your needs will be for the next five to seven years, as upgrading frequently can come with significant costs.

Tip #5 A risk in the down market is that buyers do not have the same level of choice and there are fewer properties at auction. Buyers need to avoid paying more than the property is worth.

Tip #6 Keep Saving!! You’re better off getting a lower loan ratio and smaller debt.

 

 

Gazumping sounds like something that might happen during a board game, but in reality, it can be extremely distressing for buyers in the property market.

Gazump

VERB – WITH OBJECT

1. Make a higher offer for a house than (someone whose offer has already been accepted by the seller) and thus succeed in acquiring the property.

‘the trio are fuming after they were gazumped by a property speculator’

‘gazumping has returned, as there is a shortage of good properties’

2. Swindle (someone)

‘I gazumped a friend of mine with complete success last night’

ORIGIN 

1920s (in gazump (sense 2)): from Yiddish gezumph ‘overcharge’. gazump (sense 1) dates from the 1970s.

Gazumping is a term used in Australia when a seller (especially of property) accepts a verbal offer of the asking price from one potential buyer, but then accepts a high offer from someone else. It can also refer to seller raising the asking price at the last minute, after previously verbally agreeing to a lower one.

Remember though your offer has been accepted it is not yet time to celebrate just yet.

Neither party is legally bound until contracts have been exchanged.  Gazumping can be heartbreaking and also expensive if you do not have all your ducks in a row. Unfortunately, the only thing you can do is be prepared to move quickly to exchange by:

• Selecting your conveyancer as part of your purchasing research
• Requesting a copy of the sale contract as soon as possible.
• Having your conveyancer review the contact
• Have your finance conditionally approved.

Contracts have been Exchanged now what!!!

Now it’s a waiting game.

Sit back, take a deep breath and relax, you’ve earned it.

The pace slows a little now as your licensed Conveyancer does some tyre-kicking. For roughly the next six weeks or the settlement date, we will make after exchange enquiries about the property. Government and local authorities will be written to, heritage orders will be inspected if applicant, and council checks will be performed. In other words, the work is usually out of your hands. This is the time when buyers and sellers usually get an attack of the jitters. Buyers keep their fingers crossed that everything about the property will be fine and will run according to schedule, and the vendor is praying that the sale goes ahead and they can get their hands on cash.

You are entitled to a final inspection of the property before you take possession, we advise this is best conducted a day before the settlement to allow time to sort out any problems. This allows you to confirm that the inclusions are still there and that nothing has been damaged or changed, beyond normal wear and tear, since you agreed to buy the property.

Settlement at last

Settlement day is when you pay the balance of the purchase price, take possession of the property and the keys and title deeds are handed over. If you pay cash, you get to keep the title deeds, if not they go to the financier who will return them to you when your home loan is repaid. We will notify Government departments need to be notified of the change in ownership.

Enjoy the feeling!

You are now the proud owner of your new home and you’re ‘in the property market.’ Buying your first home is a major achievement and it involves time and effort

Congratulations!!