28th February 2015
REAL ESTATE TERMS DEFINED Important real estate terms can sometimes be difficult to interpret. The Real Estate Institute of Australia (REIV) provides a comprehensive list of industry vocabulary on their website. Below are some of the more popular terms and their definitions. APPRAISAL - The term commonly used in America to indicate what is termed in Australia as a Valuation. In Australia, the term means an opinion of the potential saleability of a residential property by a licensed Real Estate Agent. MEDIAN VALUE is the middle price in a series of sales where half the sales are of lower value and half are of a higher value. For example, if 15 sales are recorded in a suburb and arranged in order from lowest to highest value, the eighth-placed is the median price. Medians are used rather than average prices because they are unaffected by a few unusually high or low prices, making them a more accurate indicator of true market activity. CHATTELS - Any fixed asset other than freehold land. Items such as machinery, implements, tools, furnishings, fittings, which may be associated with land use, but which are not fixed to the land or premises or, if fixed, may be removed without causing structural damage to a building. Legally known as personality.
Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
EASEMENT - A right to use the land of another (not involving the taking of any part of the natural produce of that land, or any part of its soil) or a right to prevent the owner of that land from using that land in a particular manner. Most commonly used where Government authorities have the right to run, for example, electrical mains or drainage through private property. Some form of compensation may be payable. OWNERS CORPORATION is a relatively new term in Victoria and replaces the term “body corporate”. An owners corporation commonly exists in units, apartments and medium-density housing when there is shared property, such as a driveway, stairs or car park. It can have as few as two members and there are rules governing how owners corporations operate and their roles.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
Jas H Stephens Pty Ltd (Jas Stephens) is bound by and adheres to the Australian Privacy Principals (“Principals”) contained in the Privacy Act 1988. Those Principals regulate most of our activities with respect to personal information collected, stored, used and disclosed by is. Our full privacy policy can be found at www.jasstephens.com.au. The purpose for which we may collect, hold, use and disclose your personal information are:-for security reasons- to keep a record of who has attended open inspections; to contact you in respect of the property and other properties we believe may be of interest to you; to provide you with a contract of sale and other documents you may request; to update you generally through the course of the campaign. We may also use your personal information to market other properties which we think may be of interest to you and to send you marketing material from our agency. You can always “opt out” if you do not wish to receive marketing material. By providing your personal information you consent to us using your personal information as described above. If you choose not to give us your information, we may not be able to provide an effective service to you. Your personal information is stored in a combination of computer facilities and paper based files and other records, which are located on site at our office and off site at secured premises. If you would like to discuss how we manage your personal information or complain if you think we have breached the Principals or to update/correct the information we are holding please call 9316-9000 or email privacyofficer@jasstephens.com.au We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
MEET THE TEAM
REECE GOSSTRAY Project Sales Manager / Banbury Village Sales Manager 0418 378 276 rgosstray@jasstephens.com.au
HELEN CORALLO Personal Assistant to Tate & Branko 0438 591 785 hcorallo@jasstephens.com.au
ALEX TEEUWSEN Personal Assistant to George Alexander 0487 648 159 ateeuwsen@jasstephens.com.au
EMILY NELSON Personal Assistant to Anna Grech 0402 397 473 enelson@jasstephens.com.au
MAX WALLER Managing Director – Provincial Home Loans & Property Advocacy 0438 430 436 maxwaller@provincialgroup.comau
DENE MACDONALD Marketing Manager 9316 9012 dmacdonald@jasstephens.com.au
LILLIAN KEATING Corporate Marketing Projects 9316 9062 lkeating@jasstephens.com.au
MAREE CECCHIN Sales Trust Administrator 9316 9025 mcecchin@jasstephens.com.au
ROSA CHETCUTI Company Accountant 9316 9014 rchetcuti@jasstephens.com.au
SUE STEVENS Finance Adviser & Property Advocate 0432 705 815 suestevens@provincialgroup.com.au
DARIA BECK Rental Department Manager 9316 9007 dbeck@jasstephens.com.au
LACHLAN MCCRAW Rental Business Development Manager 0400 335 498 lmccraw@jasstephens.com.au
NICOLE SMITH Rental Business Development Officer 0431 177 048 nsmith@jasstephens.com.au
JAMES HICKEY Leasing Consultant 9316 9066 jhickey@jasstephens.com.au
DANNIELLE JACKSON Finance Adviser 0432 705 600 danniellejackson@provincialgroup.com.au