A Slice of Sydney’s Property Market for Less than $100?
Natalee VenegasApril 27th, 2017
Sydney’s property market is notoriously difficult to get into. Just ask anyone around my age who hopes to purchase a property one day – it’s quickly becoming a fantasy. In fact, with news this week that the median Sydney house price in Sydney has surpassed $1.15 million and 78 Sydney suburbs have surpassed the $2 million […]
What to look out for before buying a property
Savina YangFebruary 27th, 2017
If you are entering the property market for the first time as a home-owner, congratulations. This is going to be one of the biggest financial decisions you will ever make in your lifetime, especially in Sydney where property prices are labelled as “crazy”. So don’t throw caution to the wind, we are here to guide […]
New off the plan provisions tested for the first time
Bianca BarryMarch 31st, 2016
In November I wrote about the Conveyancing Amendment (Sunset Clauses) Bill 2015 (“Sunset Clauses Bill”) which rid the Conveyancing Act 1919 (“Act”) of the sunset clause loophole. The new section 66ZL of the Act provides that a developer may rescind an off the plan contract under a sunset clause in circumstances where: The buyer consents […]
What sleepovers can do to your first home owner grant
Savina YangMarch 31st, 2016
On 22 December 2009, Vanessa Falvo purchased a three-bedroom property in Collaroy for $600,000 from a company owned by her parents. This was Vanessa’s first property and, as an added bonus, she was successful in receiving a $14,000 grant under the First Home Owner Grant and First Home Owner Boost from the government. Unfortunately, […]
The crackdown on underquoting
Savina YangJanuary 28th, 2016
There is a common expression in the real estate industry “quote it low watch it go, quote it high watch it die”. Underquoting, whereby a real estate agent lists a property well below its expected sale price, has been a relatively common and frustrating practice amongst real estate agents throughout NSW. However with the introduction […]
Buying off the plan – part 3
Bianca BarryNovember 29th, 2015
In September I wrote about the risks of buying off the plan. Last month I reported on the case of Wang v Kaymet Corporation, in which a group of off the plan buyers was caught out by a sunset clause. This month, the Parliament of New South Wales passed the Conveyancing Amendment (Sunset Clauses) Bill 2015 to rid […]
What do you know about caveats?
Savina YangNovember 29th, 2015
What is a caveat? The word ‘caveat’ means a warning or caution. A caveat operates as a form of statutory injunction, preventing the Registrar-General from registering any dealing (subject to some exceptions) in relation to the land prohibited by the caveat without the caveator’s consent. The caveator is the person who lodges the caveat. The […]
What is a prescriptive easement?
Hallie WarnockOctober 30th, 2015
Hallie is currently enrolled in the Juris Doctor post-graduate law program at the University of Sydney. This semester one of her classes is Real Property and for this article she is sharing one of her law school lessons on a topic that she found particularly interesting – prescriptive easements. Back in Texas, my neighbour’s […]
Developer wins in “off the plan” case
Bianca BarryOctober 29th, 2015
Last month I wrote about the risks associated with buying strata units off the plan. One particular risk is that the developer may be entitled to rescind the contract and resell the unit once a certain date has passed. This date is known as the “sunset date”. On 6 October 2015 judgment was handed […]
What is the difference between company title and strata title?
Savina YangMarch 17th, 2015
It is difficult to imagine that almost 55 years ago strata title was a non-existent concept. Before the introduction of the NSW strata title legislation in 1961, the most prevalent way of regulating the ownership of ‘common property’ in NSW was the concept of company title. What is Company Title? Company title involves a company […]