Norfolk Island Real Estate has the professional expertise to carefully and correctly appraise a property’s value in the real estate market, taking into account all features of the property, both land and any improvements, and providing a realistic value according to current market conditions.
Our opinion or estimate of the current market value of a property is based on our extensive experience and local knowledge, also on analysis of the current market generally. Comparable sales or listings can be quite misleading and erroneous. Results achieved in a particular market may or may not be as strong as they were in prior times. Please note that any market appraisal price we provide is not a suggested market or advertised price, as vendor requirements and expectations do come into consideration.
We do not ‘buy’ listings with unrealistic market appraisals, which is not in the best interests of the vendor with the property remaining on the market and not selling due to an inflated price. We do act in the best interests of the vendor in assisting in the determination of a suitable listing price that will solicit genuine inquiry and lead to an eventual sale.
Clients should be aware that our market appraisals are not formal valuations. They are only estimates or opinions therefore cannot be totally relied upon, as we are not Registered Valuers. Our appraisals are for the use of the party to whom they are addressed and for no other purposes. No responsibility is accepted to any third party who may use or rely on the whole or any part of the content of any market appraisal.
If you are thinking of selling, please contact us for a free, no-obligation market appraisal of your property. We will provide expert, confidential opinion and helpful advice.
SELLING YOUR PROPERTY
If you are thinking of selling your property, Norfolk Island Real Estate can provide professional help in assessing the value of the property and provide clear advice about the best way to sell it.
We provide a no-obligation market appraisal indicating our estimate or opinion about the property’s value in the current market and sufficient information about how we would approach marketing and selling the property to obtain the required exposure, both locally and offshore.
When appointed as Agents to sell property, we require an Agency Agreement to be signed and agreed with you. This document is required before we market or promote the property, and it sets out –
- Your instructions regarding the asking or list price
- The type of agency or method of sale which could be:
- ‘Open listing’ – where you appoint us Agents but retain the right to appoint other Agents as well. The agent/s appointment can be ceased by you or the Agent at any time.
- ‘Sole agency’ or ‘Exclusive agency’ – You appoint us as Agent for a specified time frame, with the term being negotiable but usually a minimum of 3 months after which we can be re-appointed for a further term.
- Agreed agent’s commission. (GST is not payable on Norfolk Island)
- Recommended method of advertising to achieve the best outcome
We can advise on the best method to sell your property – either by Private Treaty, Tender or Auction. In all cases we are obliged to submit any offers to you as vendor.
Our aim is always to exceed vendor expectations in the level of service we provide and the results we achieve.
TENDER OR AUCTION
Selling by private treaty is the most common where a property is listed for a pre-determined figure, the property is placed on the market and promoted to attract interest and a buyer. A sale by private treaty is effected upon agreement between the vendor and the purchaser. The vendor is at liberty to accept or refuse any offer. Another similar method is where the property may be offered for sale by negotiation, where there is no advertised price.
A Contract for Sale may stipulate that a property be offered for sale by Auction or Tender, and these methods can also be appropriate to the requirements of the vendor. Both those methods are conducted by the Agent under exclusive agency.
SALE BY AUCTION
An auction sale invites people to compete for the purchase of a property. In a pre-arranged auction venue, prospective purchasers make increasing offers until the property is ‘knocked down’ to the highest bidder. A bid at auction is an oral offer to purchase. On the fall of the hammer, the highest bidder is deemed to have made an oral contract for purchase. The purchaser then proceeds to sign and exchange the Contract of Sale. For all practical purposes, the vendor has a sale. There are advantages and disadvantages with the auction method and Norfolk Island Real Estate is best placed to advise you.
SALE BY TENDER
This method is often used for commercial real estate or unique properties under exclusive agency. As Agents, we advertise the property and invite intending purchasers to submit an offer or ‘tender’. At a specified time, tenders close and the vendor considers all tenders received by the Agent. Tenders are usually submitted on a tender form which is placed in a sealed envelope and lodged in a tender box located at Norfolk Island Real Estate or submitted by email, post of facsimile to be received before tender closing time. A tender security amount (nominal amount) is lodged with the documentation as consideration for the tender and this is refundable in full if the tender is unsuccessful. The vendor has no obligation to accept the highest or indeed any tender.
Norfolk Island Real Estate has an extensive range of properties for lease at any one time.
We have an active rent roll and receive regular inquiry from persons living and working on the island, or intending to come to the island to work, who seek suitable accommodation. As an indication only, rental figures for properties can range from:
- 1 bedroom from $150 per week
- 2 bedroom from $190 per week
- 3 bedroom from $250 per week
- 4 bedroom from $300 per week
Usually all properties are fully or partly furnished. Rates shown above are for indicative purposes and can vary according to supply and demand and according to various factors e.g. location, type and condition of property. Rental arrangements can include or exclude maintenance of lawns and gardens, and may have other special conditions.
We arrange for a Residential Tenancy Agreement to be signed between the Landlord/agent and the Tenant/s with such agreements not transferable to other parties, and Tenant/s cannot sub-let. A bond of 4 (four) weeks rent is required to be paid prior to the Tenant occupying the premises.