EXCEEDING expectations
It all starts with a vision. Whether you are seeking to acquire the ideal site for development, planning to purchase or sell a property, or aiming to expand your investment portfolio, achieving your real estate goals requires strategic guidance and expertise. Whatever your real estate goals, how you navigate the market can make all the difference. We're here to help turn that vision into reality, guiding you every step of the way.
REVE PROPERTY GROUP: Gold Coast's premier real estate authority, dedicated to excellence in service and results through unwavering honesty and collaboration.
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FAQs SELERS
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Choosing the best method of sale hinges on various factors, including location, recent local sales, buyer activity, supply and demand, your personal circumstances, and current market conditions. Here are the main methods of sale, each with its own merits:
Auction
An auction campaign usually runs for four weeks, using intensive marketing to build interest and momentum leading up to the auction. This method creates urgency by giving buyers a defined timeframe to act. Auctions eliminate the risk of over-pricing or under-selling as there are no price limitations. The direct market feedback provided during an auction campaign is valuable for decision-making, and the seller has full control over setting a reserve price. The transparent bidding process benefits both buyers and sellers, and a sale made under the hammer is unconditional, providing the seller with finality.
Expressions of Interest (EOI)
This public sale method invites prospective buyers to submit their highest and best offer in writing by a specified closing date, usually within four to six weeks. All offers are confidential and must be submitted on a Contract of Sale, including the terms of the offer. Once the EOI period closes, all offers are presented to the seller for consideration. This method helps sellers gauge the potential sale price of their property, especially when there are no recent sales comparisons available.
Private Treaty
In a private treaty sale, the seller sets the desired price for their property based on comparable recent sales and advice from their agent. Setting a realistic price is crucial for a successful sale – properties priced correctly will attract offers early in the campaign. The agent negotiates with buyers on price and terms until a suitable offer is reached. Private treaty is preferred by homeowners with no urgency to sell and those who prefer to set a clear price.
Off Market
Sellers opting for an off-market sale usually seek a quick or private transaction. The property is not publicly advertised, with the agency relying on its network to solicit acceptable offers. Reve Property Group’s Off Market portal provides clients the opportunity to secure a private sale with minimal fuss.
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When appraising the value of your property, an experienced agent from Reve Property Group considers a complex combination of factors:
Recent Sales: Sales in your local area provide a guide to what buyers are paying for comparable properties.
Location: Your suburb, street, and desirable features such as beach or river frontage, or a leafy outlook are key factors.
Land Credentials: Overall block size, aspect, and view lines significantly influence the appraisal.
Property Features: For houses or apartments, factors such as the age of the residence, quality of finishes and fixtures, and amenities like pools, tennis courts, and pontoons are considered.
Market Conditions: The current state of the market, including stock levels in your local area and buyer demand, impacts the appraisal. Broader economic factors, such as lending restrictions, interest rates, elections, and inflation, also affect what buyers are willing to pay.
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Reve Property Group understands that clear and regular communication helps alleviate the potential anxiety and questions that can arise when selling your home. From the outset, your agent and their team will establish a timeline with touchpoints and the best methods of communication. Regular reporting is integrated into each campaign to keep you informed at every stage of the selling process, right through to settlement.
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The decision to sell a property is often prompted by significant life events, such as a divorce, death, debt, a growing family, or a new job, which can dictate the timing. Unlike many markets that follow seasonal trends, the Gold Coast experiences a more constant demand due to its appealing winter weather, attracting interstate and overseas visitors or migrants in search of real estate. Even during the Christmas-New Year holiday period, when many markets slow down, the Gold Coast remains active with property shoppers who have the time and relaxation to inspect homes. At Reve Property Group, we have the skills, expertise, and strategies to position your property for a premium price in any market conditions.
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Reve Property Group serves a global network of clients based in Queensland, interstate, and internationally. With advanced technology at our disposal, buying and selling property from abroad has become a seamless process. For international sellers, Reve Property Group agents and their team handle everything, from preparing the property for sale and completing due diligence (such as building and pest reports), to arranging all marketing assets and advertising, conducting open inspections, and completing settlement.
FAQs Buyers
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In Queensland, buyers are not required to have pre-approved finance before inspecting a property or making an offer. However, Reve Property Group recommends speaking to a finance professional before submitting an offer or attending an auction to ensure you have a clear understanding of your borrowing capacity and limitations. It’s important to note that a lender can still decline a pre-approved finance application if circumstances change before the purchase.
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Reve Property Group recommends that vendors complete a building and pest report before listing a property to facilitate a smooth buying process. If a vendor has not provided this report, buyers should arrange their own inspection. While building and pest inspections are not mandatory in Queensland, it is highly recommended that buyers conduct one before entering into an unconditional contract.
For properties with a pool, the seller is responsible for providing a current pool safety certificate before settlement. If the seller does not have a valid pool safety certificate, they must sign and supply a Form 36 notice of no pool safety certificate prior to entering a contract of sale.
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When you're ready to make an offer, the selling agent will provide you with a ‘Letter of Offer’ form. This form allows you to outline your full offer, including the purchase price, initial deposit, special conditions, and settlement period.
The vendor may modify the ‘Letter of Offer’ and return it to you for review. This negotiation process can continue back and forth until both parties agree on the final terms. Once the final offer is signed by both parties, it becomes a legally binding document.
If the contract is conditional on finance, building and pest inspections, or other special conditions, a time frame (often 14 days, but this can vary) will be specified in the contract to meet these conditions.
As the buyer, you are responsible for completing due diligence, scheduling any necessary inspections, and coordinating with your financer. If you are satisfied with the outcomes of the conditions outlined in the contract, your solicitor should notify the seller’s solicitor that the contract can become unconditional.
Once the contract is unconditional, the balance deposit specified in the contract will become payable. The buyer’s conveyancer will conduct final searches and make necessary arrangements for settlement. Your bank will coordinate with the conveyancer to transfer funds on settlement day.
It is recommended that buyers conduct a pre-settlement inspection on the morning of settlement to ensure the property is empty and in the same condition as when it was initially inspected. Any issues should be raised prior to settlement.
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When an offer is accepted with special conditions, the buyer has a specified timeframe to confirm all conditions are satisfied. Once this timeframe has passed and confirmation has been received that special conditions have been met, the contract becomes unconditional.
An unconditional contract does not have conditional clauses attached to it. This means that outside of the buyer’s rights under legislation, settlement must proceed regardless of finance approval and the physical condition of the property.
Properties purchased at auction are unconditional in nature, so it is important that buyers complete their due diligence prior to bidding.
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Queensland legislation prohibits agents or sellers from providing a price guide for properties being sold by auction. This restriction helps prevent any potential influence on the eventual sale price and avoids misleading consumers if the final price ends up being significantly higher or lower than the guide.
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In this method of public sale, prospective buyers are invited to submit their highest and best offer in writing by a specified closing date and time, typically within four to six weeks. Offers are confidential and must be submitted to the agent using a Contract of Sale, detailing the terms of the offer. After the EOI period concludes, all submitted offers are presented to the seller for review. This approach enables sellers to assess the potential price their property might achieve, especially when there are no recent sales comparisons available.
