When buying a property, especially a vacant site, a very important question to consider is 'can I build a dwelling house on the land?' - not all rural land has a legal right to have a dwelling erected upon the land. You may have seen or heard this referred to as a dwelling entitlement or as a building entitlement.
Where there is a relationship between the two parties (such as a sale between parents to children or brother to sister or vice versa) , then often the sale is deemed to be not at arm’s length.
Then we can help by providing a property valuation for Stamp Duty purposes.
The valuation will provide the correct figure on which the duty will be assessed.
The median sales price for houses in Ballina, NSW in the last year was $560,000 based on 91 home sales. Compared to the same period five years ago, the median house sales price for houses increased 47.4% which equates to a compound annual growth rate of 8.1%. Sourced from:
It is important for homeowners to ensure that they have property protection by insuring their property for current reinstatement value. This can be done by getting a valuer to undertake an Insurance Assessment.
Another advantage of obtaining an Insurance Assessment from an independent Registered Valuer is to avoid paying too much for insurance premiums. For strata titled properties such as units and townhouses, this is now a legal requirement.
We can provide you with an Insurance Assessment. Simply call 0431 245460 to arrange an inspection.