Last year we posted a blog about the new swimming pool requirements that were to become effective on 29 April 2015.
The NSW Office of Local Government has recently announced that they will again extend this date by 12 months.
As of 29 April 2016, you will be unable to sell or lease a property with a swimming pool without a valid Certificate of Compliance evidencing that your swimming pool complies with all the compulsory safety requirements.
You can obtain a Swimming Pool Certificate of Compliance from your local council or from an accredited certifier under the Building Professional Act. An application form can usually be found on your local councils website.
Your Swimming Pool Certificate of Compliance is valid for three years from the date of issue.
If you are intending to sell or lease your property in 2016 you may wish to obtain a Certificate of Compliance sooner rather than later. Remember, you may not receive your certificate on the first inspection. The Council may require you to undertake further work to make your pool compliant. If this is left until the last minute it may delay any sale or lease until you have complete the work required, organised another inspection and received your certificate.
Finally, a reminder that your pool should be registered on the NSW Swimming Pool Register located at http://www.swimmingpoolregister.nsw.gov.au/ The requirement for registration is already in effect, if you have not already done so do not delay and register today!
When you buy a property at auction it is important to know about the rules and the processes of an auction. Once you are the highest bidder and ‘buy’ the property you must pay a ten percent deposit and there is NO cooling off period. (no time to change your mind and pull out of the purchase).
To make the process a little easier we have outlined some general steps to follow:
Step One: Go to auctions to familiarise yourself with the process
It is a good idea to attend auctions where you are not bidding so you have some idea of what is going on.
Talk to real estate agents before you bid so you have a real indication of the value of the property you are bidding for.
However, be aware that some agents under-quote on properties so you should add at least ten percent onto the quoted price to have a realistic idea of how much the property you are hoping for is actually worth.
Step Two: Be prepared to buy
Make sure all your finances are all ready to go before the auction day. Make sure a Solicitor checks the contract beforehand and all the relevant checks, such as pest and building reports are carried out on the property. Anderson Boemi Lawyers can help you with all of these pre-purchase checks.
Decide on your maximum bidding amount and stick to it!
Step Three: Bidding
Don’t rush in with a first bid. Sometimes real estate agents and other bidders will use “dummy bidders”, which are fake bids aimed to push the price of bids up. This occurs during the ‘first phase’ of the auction.
After the ‘first phase’, the property is then declared “on the market” and you should start bidding now. Bid firmly and confidently. You can try to slow the increase if the auction by bidding in small amounts.
But remember, once you reach your limit stop bidding!
For more information on the do’s and dont’s, and the general auction process, contact our office on (02) 9653 9466 to arrange to meet with one of our team.
STAMP DUTY CHANGES TO THE 2012 STATE
The 2012 NSW State Budget resulted in numerous changes being made to property grants, from 1 July 2012:
1. First Home – New Home: Stamp Duty implications
- If you are buying a new home and it is your first home, you will be exempt from paying stamp duty for homes valued up to $550,000.
- If you are buying a new home valued between $550,000 – $650,000 you will be entitled to stamp duty concessions.
- If you are buying vacant land you will be exempt from paying stamp duty for land valued up to $350,000.
- If you are buying vacant land valued between $350,000 – $450,000 you will be entitled to stamp duty concessions.
2. First Home Owner Grant (New Homes) Scheme
- If you are a first home buyer and purchase or build a new home (house and land) valued up to $650,000 from now until 30 September 2012 you will still be entitled to a $7,000 grant. From 1 October 2012 until 31 December 2013 you will be entitled to a $15,000 grant. This will be reduced to a $10,000 grant from 1 January 2014.
- Eligible transactions include:
- Contracts made on or after 1 October 2012 for the purchase of a new home in NSW.
- Comprehensive home building contracts made on or after 1 October 2012 by the owner of the land in NSW or a person who will, on completion of the contract be the owner of land in NSW, to have a home built on it.
- The building of a new home in NSW by the owner builder if the building work commences on or after 1 October 2012.
3. New Home Grant Scheme
- This is aimed at non-first home buyers and includes investors and owner occupiers.
- If you are buying a new home (off the plan or newly built) valued up to $650,000, you will be entitled to a $5,000 grant. You can elect to either reduce the stamp duty payable by $5,000 or receive a payment of $5,000.
- If you are buying vacant land valued up to $450,000, intending to build a new home you will be entitled to a $5,000 grant. You can elect to either reduce the stamp duty payable by $5,000 or receive a payment of $5,000.
- If you are buying vacant land you must commence laying the foundations within 26 weeks of completion of the purchase, however, there is no time limit on how long it takes to complete building the home.
- Eligible transfers are:
- New home purchases (including substantially renovated home).
- Off the plan purchases.
- A vacant land purchase (intended to be used as the site of a new home which is not an off the plan purchase).
What is intestacy?
Intestacy occurs when the deceased fails to effectively dispose of property by a valid gift by will. To alleviate this problem, Chapter 4 of the (NSW) Succession Act 2006 sets out the rules as to how the intestate estate is distributed for a person with no will.
There can be no distribution to a person unless they survive the intestate. Survive is defined as:
- Born before the intestate’s death and live at least 30 days thereafter; or
- Born after the intestate’s death where gestation in the uterus commenced before death and live at least 30 days after the intestate’s death.
Order of Succession:
If there is no Will then distribution of an Estate is more complicated. An administrator (usually the next of kin) will be appointed instead of an executor.
The deceased’s assets will be distributed in the following order:
- Spouse or defacto spouse
- Brothers and sisters
- Uncles and Aunts
The rules for intestate succession are as follows:
|Spouse and No Children
||Under section 111 of the Succession Act, the spouse takes the whole estate.
|Spouse and Children
||Under section 112 of the Succession Act, where all the children are of the intestate and the surviving spouse, the spouse takes the whole estate. However, where not all the children are of the interstate and the spouse, as per section 113 of the Succession Act the spouse will take the following:Personal effects; Statutory legacy; and Half remainder of the estate.
|Children and No Spouse
||Under section 127 of the Succession Act, the children will take the whole estate. If there is more than one child then the estate is distributed in equal shares between the children. Where a child has died before the interstate leaving issue who survive the interstate, the grandchildren will take in equal shares the presumptive share the deceased child would have taken.
|No Issue and No Spouse
||Under section 128 of the Succession Act, the whole estate passes to the interstate’s parents in equal shares.
|No Issue, No Spouse and No Parents
||Under section 129 of the Succession Act, brothers and sisters will take in equal shares the estate provided they survive the interstate.If a brother or sister does not survive the interstate but leaves issue, then a presumptive share passes to the children of the deceased brother or sister.
|No Issue, No Spouse, No Parents and No Brothers or Sisters or issue of any deceased Brother or Sister
||Under section 130 of the Succession Act, grandparents will take the whole estate in equal shares if there is more than one surviving otherwise the surviving grandparent will take the whole estate.
|No Issue, No Spouse, No Parents, No Brothers or Sisters or issue of any deceased Brother or Sister and No Grandparents
||Under section 131 of the Succession Act, the Aunts and Uncles will take the whole estate in equal shares if there is more than one surviving.If an Aunt or Uncle fails to survive the intestate leaving a child who survives the intestate that child (i.e. a first cousin) may take their deceased parent’s presumptive share.
|Bona Vacantia (circumstances where none of the above apply)
||Under section 136 of the Succession Act, in default of all of the above the Crown (referred to as the State) takes the whole of the estate.
Spouse’s preferential right to acquire property from the estate:
The spouse is given the right to acquire any property from the estate in lieu of receiving in whole or part a cash distribution. The right applies where the intestate leaves one spouse only and the Personal Representative gives notice to the spouse of right to elect within 1 month of grant of Letters of Administration.
There are new obligations regarding proof of your identity when dealing with land transactions that came into effect as of 1 November 2011.
This is partly due to an increase of identity fraud in land transactions. The changes are designed to minimise the risk of illegal or improper dealings with regard to land transactions and particularly give greater protection to you.
To satisfy the requirements, when signing documents you will have to provide photo identification (either your driver’s licence or passport). In the event that you do not have this type of photo identification you will require two forms of non photographic identification such as your birth certificate and medicare card. A comprehensive list of the acceptable forms of identification can be found by clicking on the link below.
Moving House Checklist
Below is a complete moving guide checklist. The list covers every aspect of your move in detail.
- Book your removal company.
- Dispose of any items no longer needed. Remember charities, friends and family may appreciate your pre-loved goods. You don’t want to pay to move those items.
- Remember to sort through garage / garden shed etc.
- Make a note of any precious items that may need special care to move.
- Measure the spaces in your new home to ensure your furniture fits.
- In the kitchen, use up all opened packets and throw out goods past their use-by date.
- Check any moving instructions for your washing machine with manufacturer.
- Gas cylinders and air bottles should be empty with valves open, flammable liquids safely disposed of.
- Start using up food in freezer.
- Create a folder for all your moving documents.
- Organise schooling, preschool transfers.
- If travelling, remember passports, tickets, visas etc.
If packing yourself
- Purchase cartons and packing material
- Use clean white paper, not newspaper as it soils items.
- Label every carton clearly as to contents and its room destination
- Dismantle furniture that comes apart – remember to tape screws etc in an obvious location or label and place in an “ESSENTIALS” carton.
- Prepare an inventory list of each carton.
- Pack lighter items in large cartons, heavier items in small cartons.
- Contact all relevant authorities to notify of your new address.
- Return library books, videos, DVD’s etc.
- Arrange for family, friends to mind children and pets on moving day.
- Arrange transfer of bank accounts.
- Organise telephone, internet, gas, electricity, Foxtel connections.
- Arrange move of boat / trailer.
- Ensure new home will be thoroughly cleaned before your move and also arrange cleaning of your original home after your move.
- Set aside bed linens, towels to be used on the first night so beds can be made up as soon as possible on moving day.
- Draw up a plan of each room in your new home with furniture placement for your removal company supervisor.
- Have car checked if travelling long distances.
- Indoor plants should be lightly watered and packed into plastic lined boxes.
- Cancel newspaper, milk and other deliveries.
- Drain lawn mower, remove batteries from battery powered items.
- If you have purchased a new home, ensure you have a final inspection the day before settlement to ensure the home is as you bought it and the fittings and fixtures outlined in the contract remain.
- Redirect mail through local Post Office.
- Advise services, eg. babysitter, gardener, cleaner.
- Prepare an ‘Essentials’ carton that contains important items such as remote controls, shelf supports, bed legs, keys, telephone charger, telephone handset, furniture assembly instructions
- Remember your ‘SURVIVAL’ box. Include important medications, first-aid kit, childrens’ favourite toys (especially bedtime friends), toiletries, tea, coffee, kettle, milk, snacks, baby needs, children’s sleep wear and school needs, work clothes and essentials for the following day. Don’t forget the dog’s lead, pet food and bowls.
- Collect dry cleaning.
- Arrange parking and access for removalist van/vans.
- Make sure removalist has clear instructions as to your new address and mobile phone numbers.
- Ascertain access details and key collection for your new home.
- If scheduled, professional packers will arrive to pack up your household. Make sure you leave out essential items for that evening and the following morning.
- Defrost, empty, dry out and air your refrigerator.
- Leave a welcoming note with all relevant information for the new resident. Remember to include your new address and telephone numbers.
- Prepare bags / cartons with all items that you wish to transport yourselves.
- Try to keep visitors to your new home to a minimum.
- Transport perishable food items in a cooler box.
- Have plan at hand for furniture placement in new home.
- Have at hand your “SURVIVAL” box.
- If renting, arrange for key collection.
- Collect all car and house keys, ensure gas and electricity meters have been read and telephone disconnected.
- If your possessions are being stored or you are moving overseas or interstate, remember to check and sign the inventory.
- Continue to check house / property for forgotten items as van is being loaded.
- Check tops of cupboards.
- Turn off power.
- Lock house, remember to leave keys as specified.
- If leasing, document condition of property and furnishings for the appropriate agent.
- Try to stand at the removalist’s entry point and give clear directions as to furniture placement.
- Check all utilities are connected, hot water service on.
- At completion of unloading, check all is to your satisfaction.
- If move is from storage, interstate or overseas, check and sign the inventory.
- Check that you have all keys and relevant instructions to your new residence.
- Have security checked and locks changed if concerned.
- Contact your new local council for garbage collection information and new resident’s folders.
- Smile and say hello to your new neighbours.