Background

Family Home R2 Low Density: Time to Relocate

Our clients from Eleventh Avenue were referred to us by their family solicitor. The family had lived in the Austral area for many years and had taken great pride in maintaining their 3 acre property. Our clients had enjoyed making a home in Austral and raising a family however, given the rezoning that had occurred and the development taking place within the area, they had decided that it would be a good time to consider the sale of their property. Our clients were elderly and the changes within Austral no longer suited their lifestyle requirements. The family had also been approached by several developers directly prior to engaging Create to assist them.

Land Size
3 Acres
Status
Purchased by Crownland Development
Outcomes
DA in Process: 27 Lot Subdivision
Key Stakeholders
Vendor and Vendor's Family
Solicitor
Planning Consultant
Neighbouring Developer
Potential Purchasers
Services Rendered
Vendor's Agency
Property Research & Advisory

Process

The location of this property in relation to wastewater services meant that there was uncertainty in development timeframe. Our clients wanted to downsize due to their age and stage of life, so negotiation on the terms of the sale was essential to meet their the desired outcomes.

During our first meeting with the family, they explained to us that that one of their primary motivations for considering the sale of the property, was so to downsize. They also felt that the development that was underway in Austral was making the suburb increasingly busy and they felt that it no longer met their lifestyle requirements. They also explained some of their more specific requirements for their relocation including potential suburbs that they would like to move to as well as the style of property that they would be seeking. This specific requirement meant that our clients would need a larger released deposit in order to meet their relocation needs.

We ran an on-market selling campaign for this property. During our negotiations with potential purchasers, our clients requirements for a larger released deposit were clearly conveyed.

During the selling process we also required to liaise with a planning consultant on behalf of the family in relation a request from a neighbouring owner. The developer of the neighbouring property needed consent from our client to complete shared works along the boundary of the two properties in order to progress development of his site. We assisted in managing this process by liaising with a planning consultant, the family solicitor, the son of the vendor who was experienced and very involved in the sale process and the neighbouring developer in order to manage the consent process.

Key Considerations

Vendor Relocation Requirements
Deposit Terms
Consent Requests from neighbouring developer
Settlement Timeframe

Results

We were able to achieve a large released deposit for our clients which enabled them to begin the purchase process for a new home.

The results and outcomes achieved for our clients included the following:

Large released and staged deposit to facilitate purchase of a new home.
Property Advisory and research of a new property for family relocation.
Excellent settlement timeframe negotiated despite large released deposit terms.
Support and assistance throughout the process to reduce potential stress associated with the sale.

Case Studies

25 Eleventh Avenue, Austral 2179