Port Douglas Real Estate

Buying

Buying Real Estate in Port Douglas is a gratifying lifestyle choice for investors and owner- occupiers alike.

Purchasing a property in Port Douglas and its surrounds requires a great deal of research and familiarity due to the high level of market activity in the area. For example the Real Estate Institute of Queensland statistics show that Properties for sale in Far North Queensland average only 57 days on the market as at the 25th October, 2004.

With the Port Douglas Real Estate market undergoing such a high level of activity it is vital that the buyer is armed with the right resources, information and experience. Century 21 At Port (Port Douglas) can assist you firstly by understanding your buying needs and secondly by working with you professionally until your needs are fulfilled.

The changing nature of the property market in Australia means that Port Douglas is more often in the limelight as a place to live and invest. With the annual migration to Queensland in 2003 reaching over 65,500 people it is no wonder that buying Real Estate in Port Douglas has become a preference and priority for an increasing number of Australians and Overseas Investors.

Port Douglas without a doubt was once a sleepy fishing village. Today however, the town is a thriving, cosmopolitan tourist Mecca for both Australians and overseas visitors. In a recent issue of the local “Gazette” newspaper the headline read “BOOM TIMES”. This article highlighted a quarterly report - compiled by the Cairns based 20/20 market research group, showing that the Douglas Shire has a total of $573 million in projects underway and a further $250 million well advanced in the planning stages. The total value of development in the Shire has almost trebled from the same time last year when the total was assessed at $327 million.

Facts like the above mentioned, makes it easy to see why the Port Douglas Real Estate market is still growing.

Port Douglas is a tropical peninsula in Far North Queensland, known to be at the closest proximity to the Great Barrier Reef. A truly magical place where the Daintree Rainforest meets the reef making for easy access to the only place on earth where two world listed heritage sites live side by side. “Port” as it is affectionately known to locals, can be divided up into several different areas, and depending on your budget and requirements has many styles of residential properties, villas, apartments, townhouses, units and rural properties on offer.

Buying property in Port Douglas whether it be your first home or one of several investment properties is bound to be an exciting and satisfying time and we at Century 21 At Port firmly believe the most satisfied and happy home buyers and owners are those who have the most information available to them and who use it to their advantage.

Our top 5 tips to remember when buying Real Estate in Port Douglas:

  1. Be aware of the whole process.
  2. Do your financial preparation first. Know your budget and if possible have pre financial approval.

  3. List your requirements. Your needs, likes and dislikes will help narrow down the process.

  4. Take advantage of our local knowledge and experience. Ask as many questions as possible as our sales staff are experts in Real Estate in Port Douglas, and what they do not know they will make it their business to find out for you.

  5. Legal Advice. If you are not confident in making a decision to purchase, then there are numerous solicitors who can offer appropriate advice to you, prior to signing a contract.

The basic real estate buying procedure generally follows:

  1. Contract / Offer – Basically once you have put an offer in writing the real estate agent selling the property has a legal obligation to present all offers to the Vendor/Seller. A standard contract for the conveyancing (the term used to describe the transfer of ownership of property from seller to buyer. The Land Title Act 1994 is the main legislation governing the conveyancing of houses in Queensland).

  2. Acceptance of Offer - The Seller may accept your “offer” or may change the price or conditions and initial such changes. The agent will advise about these procedures and what the outcomes are.

  3. Solicitors –You may wish to have your appointed solicitor peruse the contract prior to your signing.

  4. On Signing - Even after signing, you as the buyer have 5 working days to “cool off”. This allows you to be sure about your decision.

  5. Conditions – Most contract tend to have a “finance clause” which generally gives you the buyer 14-21 days to have your finance approved. Some people require building and pest inspections to be carried out. The agent can offer sound advice re: special conditions, but if necessary, your solicitors advice may be required.

  6. Processing & Settlement - The solicitors who act for each party will liaise and communicate with you and each other to ensure that when all conditions are met, the contract will proceed to settlement .
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