At under $100k, this is a good value for money property. On either side of the entrance hallway there are two bedrooms, following the hallway leads to the large open plan kitchen/dine and lounge room. The new kitchen is a highlight of the property with timber doors, a stainless-steel cooktop, canopy rangehood, under bench oven, and also a new refrigerator. A single size bedroom is located at the rear of the home, along with the bathroom and mud room. The bathroom comprises shower over bath, toilet, and vanity. Heating and cooling are covered with evaporative cooling, gas heating, and a reverse cycle split system. Stepping outside there is a carport, laundry, ample concrete driveway, rear vehicle access and secure fencing. In the laundry there is a second toilet, and plumbing for a second shower. The lovely cottage gardens with native plants and fruit trees, are low maintenance and have a drip irrigation system in place. The home comes with a full inventory of furniture (as per house plan), quality window furnishings, appliances, general household effects, as well as materials to complete (Most of the hard work has been completed) the renovations. Rental appraisal approx $210pw after renovations, council and water rates approx $1,800pa.
Agents Note:
1. It is highly recommended that all purchasers have pre-approved finance before booking inspections. This is a requirement for all inspections.
2. All offers are to be in writing with the terms and conditions of the offer.
3. All properties will stay on the market and all offers will be presented to vendors right up until an exchange of contract.
4. The agent is obliged to submit all offers to a vendor even though there might be an offer and acceptance between buyer and seller. This is known as gazumping and it is legal in NSW.
5. It is the responsibility of the purchaser to efficiently exchange a contract of sale, otherwise gazumping can occur.
Gazumping
Gazumping occurs when you have a verbal agreement with an agent or seller to buy a property at an agreed price but the property is not sold to you in the end. This usually happens when the vendor (the person selling the property) has decided to sell the property to someone else, usually for a higher amount or better sale conditions. The agent is legally obliged to pass on to the vendor any further offers received for the property up until the exchange of contracts.
If you are gazumped, neither the agent nor the vendor is obliged to compensate you for any money you may have spent on legal advice, inspection reports, finance application costs or inquiries.
In NSW, a property sale is generally only binding on the vendor and buyer when contracts are exchanged between the two parties. Exchange occurs when the vendor signs their copy of the sale contract; the purchaser signs their copy, and the two parties exchange' their signed contracts. It is usual at this time for the purchaser to pay a deposit, usually 10% of the purchase price.
https://www.fairtrading.nsw.gov.au/housing-and-property/buying-and-selling-property/buying-a-property/gazumping
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