First home buyer mistakes in Victoria that can cost thousands
Purchasing your first home in Victoria is one of the most significant financial commitments you will ever make. However, the excitement of entering the property market can often lead to first home buyer mistakes in Victoria that result in long-term legal and financial distress. Understanding the specific first home buyer risks in Victoria is essential […]
Buying an apartment in Melbourne: conveyancing and owners corporation risks explained
When you are buying an apartment in Melbourne, conveyancing involves much more than just checking the title to a single unit. Unlike a standalone house, an apartment purchase means you’re investing in an entire building and joining a collective legal entity. Understanding owner’s corporation risks is essential to ensure your dream home doesn’t become a […]
Buying property at auction in Victoria: Legal risks buyers need to know
Purchasing a home at auction in Victoria can be fast-paced and competitive, but it is also a public sale governed by strict legal rules. Unlike a private sale, which allows for more controlled and less public negotiations, an auction creates a high-pressure environment where decisions must be made swiftly. Because of the transparency and competitive […]
What happens if settlement is delayed in Victoria?
Buying or selling a property is a major financial undertaking, and while exciting, it can become stressful if the process does not proceed as scheduled. Delays in the conveyancing process are quite common, and understanding the risks and legal consequences is essential when dealing with a delayed settlement in Victoria. Ensure you understand the various […]
What happens after signing a contract of sale in Victoria?
Congratulations! Signing a contract of sale marks a major milestone in the property buying process in Victoria. While the negotiations are complete, the period between signing and settlement, often several months, is crucial and requires careful action to ensure a smooth transfer of ownership. Understanding what happens after signing a contract of sale in Victoria […]
How long does settlement take in Victoria? Typical timelines and delays
Buying or selling a property is a significant financial step that can become stressful when timelines are not met. Understanding the standard property settlement timeline in Victoria is essential for minimising stress and avoiding costly setbacks. The first question we generally get asked from buyers or sellers of property is how long does settlement take […]
Loan Mortgage Insurance (LMI): enabling home ownership while protecting the lender
Saving a 20% deposit is often considered the ‘gold standard’ for purchasing a home in Australia. But with rising living costs and rapidly increasing property prices, many buyers struggle to reach that benchmark; often delaying their entry into the market for years. This is where loan mortgage insurance (LMI) comes in, as a key mechanism […]
Australian Government 5% first home buyer deposit scheme: helping Victorians buy sooner
Buying your first home in Victoria has become increasingly difficult – but with the expanded Australian Government 5% first home buyer deposit scheme, more buyers can now enter the market sooner and with far less upfront cost. The first home buyer deposit scheme is a significant federal initiative designed to support eligible home buyers in […]
Unlawful owners corporation fees: a persistent problem in Victoria’s $471 billion sector
Victoria’s strata management industry continues to operate in defiance of clear legal rulings, with companies charging “predatory” owners corporation fees (such as administrative and debt recovery fees) that have been explicitly ruled unlawful by the Victorian Civil and Administrative Tribunal (VCAT). VCAT has recently highlighted “…a number of questionable practices…” by an Owners Corporation Manager […]
Victorian auction laws: cracking down on underquoting
Victorian auction laws are set to undergo significant changes aimed at eliminating underquoting and ensuring transparency through mandatory reserve price disclosure. These reforms promise to level the playing field for homebuyers, particularly first-home buyers struggling in a competitive property market. This Australian-first initiative requires real estate agents to publish the reserve price (which is the […]