Property News March 2018
Is it time to get an SMSF Property Audit Assessment?
Locate Negotiate provide fixed price and fast turn-around property assessments for SMSF audit purposes.
Due to the unforgiving nature of the ATO’s audits, it is recommended that assessments be conducted every 3 years.
Locate Negotiate are there to ensure market assessment reports are accurate and credible.
By engaging Locate Negotiate, you can be assured that you have the right market assessment no matter the property type.
To get a regular update on the market worth of a property, take advantage of Locate Negotiate SMSF assessment services. We can help you keep informed of the market worth of the property over a three-year period at a competitive rate. Talk to us today about how we can help you or your clients.
If a formal independent property assessment is in place, then it will be difficult for anyone to dispute the assessment.
Locate Negotiate are now affiliated with Munro Ayres, valuation and property management services.
Something to Think About...
Sydney residential property growth prospects long term.
Over the past 10 years, the population has increased 18.2 percent to over five million people. Forecasts suggest this trend will continue and by 2036, with the city’s population to reach 6.4 million.
Commentary from NSW government has confirmed that 726,000 homes will be required in the next 18 years.
Unlike other Capital cities, Sydney is surrounded by National Parks and water. The impact of this could eventually mean a real chance of a land shortage in the future.
While there have been recent policy changes directed at international buyers, they are by no means unique to Sydney. Many other international cities have introduced similar taxes and so the comparative cost of buying, owning and selling in Australia remains competitive on a global scale.
Sydney vs Melbourne affordability
Why is Melbourne attracting more population growth than Sydney? Melbourne offers what Sydney cannot or will not offer: access to affordable housing on the urban fringe.
We understand there are other factors which have an impact on property growth i.e. economy, jobs, interest rates etc.…but the above can’t be ignored when forming a view of the Sydney market long term.
Inner West Sydney- Exchanged 23rd Feb
Property Purchase: Third party negotiation
We were engaged to assist a client who was interested in purchasing an off-market home in the inner west. Our client had tried for 3 months unsuccessfully to negotiate an agreed price. Locate negotiate were brought in at the 11th hour to try and broker a deal as our client had pretty much given up. Our brief was simple, negotiate a deal with the owner taking into consideration their max budget could not exceed $1,550,000. The owner’s expectation was $1,650,000
We undertook the necessary due-diligence and research and arranged a meeting with the owner. We discussed their motivation for selling and how they justified their $1.65m price tag. In detail, we went through all the relevant sales data with the owner and explained why other houses were selling in the $1.65m price tag. Other properties had superior features, larger land area and generally positioned in better locations.
The owner was hesitant to agree at first, however, after a week of further discussions, we agreed to terms at $1,540,000 on the basis of a 4 month delayed settlement and release of a deposit.
Building trust, asking the right questions, getting the sellers point of view and using our negotiation experience was key to getting the job completed successfully.
We are unique in that we offer a variety of solutions for individuals and business. “No job to big or small”
When people ask, ‘what do you do?” Answer: “Whatever it takes”