Important information about Wills

Today the ABC's law report ran a very informative story on wills. If you are thinking about udating your will, or even more importamntly, if you haven't got a will you should take the time to listen to this story.

"Wills
Wills: they tell the world how the dead want their assets carved up, but do they always get carried out in an efficient way?"

You can access the Law Report here.

This specific article is available for download for a month (after a month you can contact the ABC and they will dig it up for you.)

Property tips for buyers

When buying property make sure you know what you are getting. Always arrange an independent Pest and Building report. You may also want to arrange a valuation.

Valuations

While real estate agents usually have a good understanding of the local market they are biased in their views on what a property is worth. Agents are going to be paid if and when the property is sold, so their estimation is always coloured by this incentive.

You can get a valuation from two main sources; professional valuers and database estimates. The benefits of independent provider sis that you get a complete and accurate report that has been created specifically for you, and not for a real estate agent or a vendor.

Statistical Estimates

A Google search for property statistical estimates will help you locate providers of this service. Statistical estimates have strengths and weaknesses.

I am of the belief that the statistical estimates are useful in two main ways; the first is in general research into a suburb, and the second is to help assess the value of the average house on the average street in a particular suburb or market.

Beyond these scenarios people still need to hire a valuer to go and inspect the property, along with the building and pest inspectors. The very nature of statistical estimation means that if a particular house or property is in any way unusual that uniqueness is not identified, and so the estimate could be too high or too low.

Physical inspections by qualified professionals

For a more precise estimate of the value of a property it is best to contact a qualified valuer. We recommend you use www.evaluator.com.au to arrange your valuation, but you could also search Google or the white pages for alternate providers.

Pest and Building reports

You really do want to know of there are problems with the property before you agree to buy it. The cost of repairs is often greater than $20,000 for things such as subsidence or termite damage, and the bill can often top $100,000.

The couple of hundred dollars that you spend on these reports has the potential to save you many times that amount in the long run.

We also recommend www.evaluator.com.au for you to order your pest and building reports.

Think of these reports as a cost of buying like stamp duty or insurance, or even better as an investment into avoiding costly repairs.

If you have any questions you would like to ask about buying property you are welcome to call us on 02 4365 6556 or email us.

Customer Satisfaction at Erina Legal

Customer satisfaction is one of the core values of Erina Legal. We know we are here to serve our clients. As a result of this, we work hard to understand your needs and to listen to you, the client.

Our team are highly competent in their field, but these days we recognise that is not enough. You want someone who understands you and who cares about you and your legal matter.

You also want someone who clearly communicates what is going on, what the next steps in your legal matter are and what we are doing about them. So we talk to you as well as listen.

If you have any problems with our service we want to know about them so that we can address them. Any problems you may have can be discussed with Wayne Brown and if he is not able to assist, you can speak to Denise King, our principal lawyer.

Problems are often based on unfounded misunderstandings or assumptions. Usually the best results are achieved from a discussion about the issue.

We always do our best to address your issues to ensure that we can continue to work together. So far we have a good track record with our clients and we welcome you to become part of that success.