Property Sale

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One of the life’s most stressful events is buying or selling your first home – it’s said to be up there with getting married. 
The REIQ offers several tips to first home buyers and sellers that will help you navigate one of life’s trickiest transactions with confidence and with a degree of certainty that you’ll achieve a great outcome, whatever you want that to be.   One of the keys to success is engaging a real estate professional that you can trust to be your guide throughout the process. You need to find that person who you can connect with; that person who is experienced and can help you with the many decisions that you are about to make.    Choosing your agent:
Interview the experts and get their views. Meet with two or three agents and talk to them about what you want to achieve from the transaction. If you’re buying your first home a buyer’s agent is a very good idea and if you’re selling for the first time then speak to a few agents from different offices to get a feel for how they each will approach the sale of your home.   Ask questions:   1. What is your area of expertise? Many people don’t realise that real estate agents can engage in a broad range of activities, including selling residential property, auctioneering, commercial property sales, leasing and management, along with business broking. So you need to choose someone whose background is in the area that you’re seeking guidance in.   2. Feedback: You need an agent who has experience in giving feedback and having tough conversations with clients. Sometimes it can be difficult to give honest feedback to vendors who don’t want to hear that the price they want is unrealistic or the renovations are not a good idea. You want an agent who will be honest and up-front with you, so ask them about their style of feedback for vendors and what they do when they have to have the tough conversations.   3. Do you have professional indemnity insurance? This is not a statutory requirement so not all agents will have it, which is a problem if something goes wrong. All REIQ accredited agency members are required to carry a minimum of $1 million in PI insurance. It gives an added peace of mind. After all, you don’t want to be embarking on one of the biggest transactions of your career without a safety net, do you?   4. What is your dispute resolution process? Nobody wants to think that something will go awry in their property transaction but if it does, what options are available to you? If your agent doesn’t have a simple, accessible dispute resolution policy in place how will you know what to do in the event of a dispute?   5. How do you stay up-to-date with legislative changes? Not all agents maintain their professional knowledge and this can be concerning when you consider that property transactions are very heavily regulated by government legislation. You really need to make sure that the agent you choose keeps their knowledge up to date. All REIQ members are required to maintain their continuing professional development as a requirement of their membership and this gives you peace of mind to know that they are up to date.
ANTONIA MERCORELLA is CEO of the <a href="https://www.reiq.com/" target="_blank">REIQ</a>.
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Property 101: How to take the stress out of property purchasing and selling: Antonia Mercorella

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Indi Madden, whose family owns the Mitre Tavern in the Melbourne CBD, and her husband Bryan Madden – managing director of fund management firm Brookline Partners – have listed their Hawthorn East home.
More than $2.8 million is tipped for 21 Selwood Street which with an understated contemporary style, has city views.
Kay &amp; Burton agent Nicole Gleeson has a scheduled August 22 auction.
It traded at $2.2 million in 2007 when bought from Felicia Leoncelli, the former senior artist with the Australian Ballet Company, and wife of estate agent Andrew Leoncelli.
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Hawthorn East trophy home offer

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A hilltop East Fremantle home has been listed for sale.
The <a href="https://www.realestateview.com.au/Real-Estate/42-alexandra-road-east-fremantle/Property-Details-buy-residential-9409662" target="_blank">2 Alexandra Road</a> property rebuilt in 2010 has been listed with $4 million plus hopes through Jonathan Keys at William Porteous Properties International.
A rooftop garden has wide river and ocean views.
The house is built on a 965 square metre floor area with under vaulted ceilings and travertine floors.
The median price for a house in <a href="https://www.urban.com.au/property-observer" target="_blank">East Fremantle is $1,175,000</a>, according to CoreLogic RP Data.
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Hilltop East Fremantle trophy listed

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Retired swimming golden girl Stephanie Rice has sold her Paddington, Brisbane home.
Place Paddington agents Tim Douglas and Scott MacDonald secured the sale.
Stephanie Rice posted her gratitude on Instagram about the sale of her four-bedroom, three-bathroom property for an undisclosed price.
<a href="https://www.realestate.com.au/property-house-qld-paddington-121662222" target="_blank">Rice purchased the home on Kennedy Terrace </a>in 2010 for $1.265 million.
She used the house for investment purposes renting it out at most recent at $1050 a week.
It’s believed the recent sale was motivated by her move overseas.
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Stephanie Rice sells her Paddington, Brisbane investment property

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Local legends George and Kathleen Collier of the Byron Shire are looking to sell their rural lifestyle home at Mullumbimby.
The home has been a part of Collier family for the past 40 years, being used as a farming estate for the couple.
The property sits on over <a href="https://www.realestate.com.au/property-other-nsw-mullumbimby-7709627" target="_blank">40 hectares of land</a> marketed as making a prime investment for new tourist accommodation.
The price for the estate is disclosed through Paul Prior and Tara Torkkola, Byron Bay First National.
A similar estate in Mullumbimby, being handled by Property Now that also features 40 hectares of land currently has an asking price of $1.3 million.
<a href="https://www.realestate.com.au/property-other-nsw-mullumbimby-7709627" target="_blank"><img src="https://i1.au.reastatic.net/456x342/a1cc4ec708ffbff9871c9239c26131e5c6ea6bfaf5a82b34f0e7114cab9ed78d/main.jpg" width="456" height="342"></a>
 
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Mullumbimby 40 hectare offering

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Chinese retail and supermarket giant Dashang Group's subsidiary, Australia Aulong Auniu Wang (AAAW) has taken a caveatable purchasing interest in the Glenrock Station near Scone in the Hunter Valley.
It was reportedly sold earlier this year for $45 million, with the paperwork not yet formally registered.
Dashang, based in China's northern port city of Dalian, has also purchased the prime 1100-hectare rural property Clear Hills near Captains Flat outside Canberra. 
Dashang's reported intention in Australia is to become the No.1 importer of Australian beef into China.
It also wants to be the first Chinese company to import live cattle from Australia under the recently signed live cattle export deal.
The 30,868-hectare Glenrock Station grazing property neighbours James Packer's Ellerston estate. 
After FIRB approvals, Dashang have maintained the farm team at Glenrock, with the aim of running between 10,000 and 15,000 Angus head on the property.
Glenrock, the Scone district pastoral station, last traded in 2005 when bought by then Babcock &amp; Brown managing director Phil Green and Tricom brokerage firm founder Lance Rosenberg in a syndicate that paid $23 million.
The syndicate purchased Glenrock from Compagnie de l’Occident pour la Finance et l’Industrie, a Luxembourg corporation with interests in financial management, banking, property and ­agriculture.
According to past ASIC filings, Green owned 51% of the property's holding company Glenrock Station Pty Ltd, and its directors include Claymore Capital's Anton Rosenberg (whose wife Sharron is also a shareholder) and former Babcock &amp; Brown's Paul Platus, who now works with Green at advisory firm, Alceon.
The other shareholders are Grace Mutual chief Andrew Tyndale and property developer Alan Cardy, the second largest with 25%.
 
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Dashang buy Glenrock Station, Scone

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The Brighton Golden Mile 1862 trophy mansion property, Bonleigh has been sold, a year after going on the market with an asking price of $6.5 million.
Settlement records show a $6.15 million sale price to the Davies family from Toorak.
The property on Bonleigh Avenue originally had title to the low-water mark, but now comes with bay views.
The property, once used as a boarding house, was renovated by retired banker John Langton-Bunker and his wife, Peta, who have lived in the 150 year old mansion for the past 23 years.
They paid $815,000 in 1992.
It was designed by Alfred L Smith whose design works include Melbourne's Supreme Courts and Library and the Athenaeum Theatre.
The home is believed to have been built for Lawrence Cockburn, the son of Lord Cockburn, solicitor-general of Scotland.
<a href="https://uniqueestates.com.au/listings/residential_sale-278842-brighton/" target="_blank">Unique Estates</a> had the offering since last September. 
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Bonleigh, Brighton sells at $6.15 million

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The private treaty median price for a home in Sydney hovers above $880,000 with Melbourne at $565,000 and Canberra at $560,000, according to CoreLogic RP Data.
Unit median prices in Sydney are $670,000, Darwin $520,000 and Melbourne $460,000.
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Sydney private treaty median house price hovers above $880,000: CoreLogic RP Data

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It took a week of negotiations but celebrity renovator Cherie Barber has secured her desired record Leichhardt residential price.
Her renovated and extended cottage was passed in on a vendor bid of $3.05 million at early September auction - and sold seven days later at $3.06 million late Saturday night.
The Cobden Hayson agency sale bettered the inner west suburb record by $10,000.
Cherie Barber, the founder of the workshop Renovating for Profit, and dubbed as Australia's renovation queen, paid $950,000 in 2008 for the unliveable, double-fronted 1890s house at 93 Hill Street.
She then converted it into a five-bedroom showpiece family home with its Victorian grandeur fused with industrial warehouse style.
Her renovation project would have reportedly secured a $1 million profit if she'd got her overly ambitious $3.2 million hopes for the sizeable 411 square metre property completed with meticulous attention to detail.
The star of Channel Ten’s show, The Living Room had flown back for the auction from filming her Five Day Flip renovation series for US television in Minnesota.
She had knocked back a pre-auction offer of $3,050,000. 
Sydney’s preliminary auction clearance rate was 75% this weekend, the 10th week in a row where Sydney has recorded a result below 80%, according to CoreLogic RP Data.
Sydney’s previous clearance rate was 77%, while one year ago around 78% of homes taken to auction were successfully sold under the hammer.
Early spring volumes are higher at 1,046 listings, up from 1,023 the previous week. One year ago 743 Sydney homes were taken to auction over the week.
The Northern Beaches sub-region had the strongest performance with 84% of the 45 reported results selling over the past week.
Cobden Hayson selling agent Ben Southwell said his Leichhardt price had been expected as it one of the largest homes in the suburb. 
A former Victorian fire station in Leichhardt on a 662 sqm had held the suburb record since sold for $3.05 million in 2014.
The four-bedroom house at 27 Marlborough St was a circa-1890 Victorian fire station that was used as an army drill hall during World War I. It was later converted into a residential home by an owner who had a business importing French furniture with enchanting parterre gardens designed by Annie Wilkes.
It also achieved the highest price for Leichhardt when it last sold for $2.45 million in 2007.
The median house price of Leichhardt is at a record $1,180,000, according to CoreLogic RP Data.
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Cherie Barber secures her Leichhardt residential record

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2GB rugby league Continuous Call Team member Mark "Piggy" Riddell, the goal-kicking hooker, hopes to score when his East Hills home goes to September 19 auction.
The modernised three bedroom, two bathroom 1999 family home with jetty is positioned with bush and water views across the <a href="https://www.daystar.com.au/buy-residential-real-estate/house-614-henry-lawson-drive-east-hills-nsw-11342101136" target="_blank">Georges River from its 600 sqm block</a>.
"For those who love entertaining, or simply enjoy the appeal of outdoor living, the resort style yard will impress," the Daystar First National listing agent Michael Sleiman said.
"Relax with friends on a lazy Sunday afternoon, or enjoy a BBQ on a balmy summer evening."
It was bought during Riddell's last year at the Parramatta Ells, before heading to play for Wigan in 2009 where he won the 2010 Super League Grand Final with them.
Riddell, who Riddell retired in 2011 at the Sydney Roosters, has his eyes on something at Wallacia.
The median house price in <a href="https://www.urban.com.au/property-observer" target="_blank">East Hills</a> is $800,000, according to CoreLogic RP Data.
This article was first published in the Sunday Telegraph
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