FAQ

The initial step in purchasing any property involves conducting a thorough assessment of your finances. This includes understanding your budget, potential loan amount, and any additional costs such as stamp duty and inspection fees. Obtaining a qualified pre-approval from a registered lender is highly recommended, as it provides a clear idea of what you can afford and strengthens your position as a buyer. You should also consider the type of property you’re interested in and the preferred locations, keeping future needs and property resale value in mind.

Searching for a property is an exciting journey and TWIG real estate are here to assist you in your search for the perfect property.

Start by browsing our listings online real estate listings, or for the more personal approach feel free to contact our exceptional team of Sales Executives on (03) 9863 8260 or hello@twigrealestate.com.au TWIG RE can provide personalised recommendations based on your preferences and alert you to every new listings before they go to the broader market place. Due to our deep reach into the Melbourne real estate market, we always have an incredible selection of property available for you to view.

When buying your new property, it’s crucial to budget for costs beyond the purchase price. These include stamp duty, legal and conveyancing fees; loan application fees; and building and pest inspection costs. Ongoing expenses such as property insurance, council rates, and maintenance should also be considered to ensure you’re well prepared for the experience of homeownership.

General stamp duty rates in VIC

The property buying process involves several key steps. After finding a property you like, you can make an offer or participate in an auction. Upon acceptance of your offer or winning an auction, you’ll sign a legally binding contract and pay a deposit, typically 10% of the purchase price. The period that follows is the settlement phase, usually lasting 30-90 days, during which legal and financial preparations are made for the transfer of ownership. TWIG real estate can guide you from first step to last step during the process, we are here to make your buying experience world class.

When selling your property, consider the timing of the sale, the target market, and how your property will be presented. Analyze market conditions to choose the best time to sell and set a realistic price based on comparable sales in the area. Preparing your home for sale might include renovations, repairs and staging, all of which can significantly impact buyer interest and the final sale price. However, don’t be put off if you don’t want to do these makeovers yourself, we have many buyers who specifically ask for property they can add their own personal touch to.

Having an experienced and professional real estate agent is crucial; at TWIG real estate we provide market insights, promotional expertise, and the best negotiation skills to ensure you get the best possible price for your property when you decide to sell.

Setting the right price for your property is a balance between attracting buyers and achieving the best possible price. TWIG real estate provides thorough market research and analysis for you to appreciate the current market conditions and property values in your area. Our highly experienced team know your marketplace inside and out as we live, eat and work in the Melbourne CBD everyday, we are your eyes and ears on the ground for Melbourne property. TWIG real estate offer a range of strategies designed to give our sellers the best possible price in the best possible time frame.

TWIG real estate plays a multifaceted role in the sale of your property. We provide a market insight, develop a bespoke sales and advertising strategy for your property. TWIG real estate handles all the inquiries and client viewings. TWIG real estate love to showcase your property with our exclusive professional photography and marketing packages . Our team are all professional negotiators, we deal everyday with potential buyers to achieve the best possible price and the best terms for your property. TWIG real estate also ensure compliance with legal and regulatory requirements, facilitate the sale process, and provide guidance and support throughout.

The settlement period is a crucial final phase in the property buying process, usually lasting between 30 to 90 days. During this time, legal and financial preparations are completed for the transfer of property ownership. This includes finalizing the mortgage arrangement, conducting legal checks, preparing transfer documents, and ensuring all conditions of the sale are met. On settlement day, funds are transferred, and the buyer receives the keys to the property. It’s essential to conduct a final inspection before settlement to ensure the property’s condition is as per the contract agreement.

A rental reference is a recommendation provided by a previous residential rental provider (RRP) or property manager. It attests to your reliability and suitability as a tenant. This reference often includes details about your promptness in paying rent, care for the property, and adherence to lease terms.

A residential tenancy agreement is a legally binding agreement between a renter and a residential rental provider. It outlines the terms and conditions of renting a residential property, such as the but not limited to, the duration of the lease, rental amount, and rights and responsibilities of both parties inside the agreement.

A condition report documents the state of the property at the start of the tenancy. It includes detailed information about the property’s condition, including existing damages or issues. The renter has the opportunity to review, sign and/or dispute this report which validates and serves as reference for the property’s condition at the time the renter enters into the agreement.

Prior to lease commencement, you’ll typically receive the residential tenancy agreement (RTA), a condition report, an information booklet about your rights and responsibilities as a tenant, and emergency contact details. You may also receive building rules, if applicable.

A routine inspection is a regular review of the condition of the property performed by the residential rental provider or property manager to ensure the property is well-maintained and to identify any repair needs. These inspections usually occur every six to twelve months and are not meant to invade your privacy but to safeguard the property’s condition.

At the end of a lease, you can either renew the lease for another term, continue renting the property on a month-to-month basis (known as a ‘periodic tenancy’), or vacate the property (subject to the terms and conditions of the lease agreement). Your residential rental provider or property manager will usually contact you in advance to discuss these options.

The RRP or property manager can enter the property for specific reasons like routine inspections, repairs, or to show prospective tenants or buyers. They must provide notice as required by law, typically 24 hours to 7 days, depending on the reason for entry.

The National Tenant Database (NTD) is a collection of tenant records used by residential rental providers and property managers in Australia to screen potential tenants. It includes information on tenant history, such as past rental breaches or evictions, to help make informed decisions about rental applications.

Whether you can have a pet depends on the property’s pet policy. You must seek written permission from your residential rental provider or property manager prior to bringing a pet into the property.

If something needs repair, notify your residential rental provider or property manager promptly. They are responsible for maintaining the property and conducting necessary repairs. Emergency repairs require immediate action, while non-urgent repairs should be addressed in a reasonable timeframe.

Vacating before the end of your lease is considered breaking the lease. This may involve financial penalties or obligations, such as continuing to pay rent until a new tenant is found or covering advertising and reletting fees. It’s best to discuss this situation with your residential rental provider or property manager to understand your options and responsibilities.

At Twig Real Estate we are committed to providing the best service, information and quality properties for our owners, tenants and purchasers at all times. If you have a question we haven’t answered here, or you just want to discuss your real estate needs with a dedicated real estate professional simply call our team on (03) 9863 8260 or email hello@twigrealestate.com.au. No matter whether you are looking to buy, sell, lease, rent or negotiate Real Estate in any way, TWIG Real Estate are your dedicated Melbourne property specialists.