Buying property? Then this blog is for you!!

This blog helps the property buying community to more easily share strategies, stories and helpful tips. It is an open blog. Anyone can join, contribute and invite others to join.

If you would like to talk property, please contact us:
Office: 1300 911 576
Martyn Fleming: 0400 000 822
Guy Clarke: 0409 055 128
E: enquiries@morpheusproperty.com.au
W: www.morpheusproperty.com.au
_________________________________________________________________

02 March 2011

The role of a Migration Agent

As a Buyers Agent, we often work in partnership with Migration Agents. Despite the fact that both of us provide help to migrants, our roles are completely different.

When talking to people migrating to Australia, we are often asked about migration policy. Although we can talk about life in Australia and help potential migrants with property-related issues, any migration advice should come from a registered Migration Agent. Approx 27% of Migration Agents hold legal practising certificates, due to the nature of migration advice the role of a Migration Agent.

Despite this service becoming more popular (see table below), approximately half of all visa applicants choose to do it themselves or rely on advice from websites, family and friends.

Number of registered migration agents over the last 2 years
Source: www.immi.gov.au

Recently, I was asked how many people use a Migration Agent and for which categories of visa. Department of Immigration and Citizenship publish quarterly reports and I've included the last available report from www.immi.gov.au to illustrate which categories tend to rely on the services of a Migration Agent.

Proportion of applications lodged by registered migration agents
Source: www.immi.gov.au

For a more detailed breakdown of the July - Sept 2010 quarter figures (by individual categories of visa subclass), follow this link.

If you know of someone struggling to find a good Migration Agent, we'd be only too happy to help. Picking a credible Migration Agent is tricky and an important decision. It's often useful to get a recommendation from someone who can attest to an agent's performance and offer greater confidence they will perform well.

Contact us by email and we'll be only too happy to talk you through your options - enquiries@morpheusproperty.com.au or call 1300 911 576.

24 January 2011

Queensland Floods and Property

Morpheus Property would like to extend our thoughts to everyone feeling the impact of our recent floods in Queensland.

We know these are tough and tragic times for families all over Queensland. After getting muddy with home owners in the Brisbane area, you couldn't help but be encouraged to see so many Queenslanders chipping in and getting their hands dirty.

We'd like to also applaud the efforts of all the behind-the-scenes volunteers who helped with the clean up. We saw mums baking cakes, plenty of donations (money and essential goods), people sharing their gardening tools and equipment, shop owners spreading food and refreshments to the home owners and volunteers and a generally giving attitude from so many people. It makes you proud to be a Queenslander!!

In the aftermath, we have fielded a variety of property related questions, ranging from flood relief packages, insurance, tenant v landlord responsibilities, the impact on prices in both flood-affected areas, as well as neighbouring suburbs.

For those directly affected, I recommend contacting Centrelink first on Ph: 180 22 66 and they can help process your initial relief claim, as well as point you in the right direction for the Premier's Flood Relief Package.

We are able to report that none of our clients were affected by the recent flooding and this is not by accident, but by design and diligent processes. There are some simple methods you can use to ensure you're investment has reduced risk of damage by flooding or overland flow.

We have also fielded some questions about the buying process and how to best protect yourself in case your conveyancing efforts discover the property you're buying is flood. We'll write a separate article on this soon. However, if this (or anything else) is an immediate concern to you, please feel free to call us on 1300 911 576.

02 January 2011

Australian House Market Strongest in the World


Below is a recent article from the Courier Mail. It's one of many recent articles describing Australia's strengthening economy, currency and housing market.

This particular article gives another modest prediction for interest rate rises in 2011 at 75 basis points - compared to earlier predictions, this is good news for current home owners and investors.

Also encouraging are the other 'good news' stories of individual economic recoveries around the world, showing signs that we're well and truly starting to shake the GFC!

AUSTRALIA experienced one of the strongest housing markets in the world during 2010, new research shows.

But likely interest rate hikes will slow the market in 2011, the Global Real Estate Trends report predicts.

The report, released by Canada's Scotiabank, tracked the housing markets in 12 advanced economies throughout 2010.

Home prices increased in Australia, Canada, France, Sweden, Switzerland and the United Kingdom.

They remained flat in Germany and the United States, and fell in Ireland, Italy, Japan and Spain.

Australia led the pack, thanks to relatively low unemployment and tight housing supply.

But interest rate hikes and a cut to the first homeowners grant slowed a "red-hot" property market in 2010 to some degree, the report said.

Economist Adrienne Warren anticipates the Reserve Bank of Australia will lift interest rates by an additional 75 basis points in 2011.

Australia's close trade ties with Asia and resource wealth would continue to underpin a solid pace of domestic activity.

"Higher interest rates will worsen already strained affordability," Ms Warren said in a statement.

Canada's market also fared well, but was "one of the most volatile" expected to be tempered by more moderate employment and income growth in 2011.

The UK property market staged a strong early-year recovery while Germany's decade-long housing slump also came to an end.

But it was a different story in Spain, Ireland and Italy, where the market continues to fall.

Japan's two-decade long property slump continued in 2010, and is expected to slump further in 2011 on the back of a weaker economy.

The surprise result came from the US where the housing market stabilised.

That trend is expected to continue, with the report predicting the US Federal Reserve to maintain its record-low 0.25 per cent rate through the end of 2011. Link to article>>



24 December 2010

Merry Christmas from Morpheus Property

Morpheus Property would like to wish you and your family a....

Merry Christmas
....and we hope you enjoy the New Year celebrations!

2010 saw many developments in Morpheus Property. For the last 5 years, we have focused on promoting our core 'Residential Buyers Agency' service. Most of our efforts were about helping the industry become more aware of what we do and why people would use our services. However, word is spreading and people are getting the message. This has allowed us to turn our attention to some of our other services.

At the beginning of 2010, we started to more actively promote our 'Divestment Service' and 'Commercial Buyers Agency' services and we were encouraged by the market's reaction. Although we've delivered both of these since we opened our doors, we haven't actively pushed the message until recently.

We also introduced an upgrade to our Customer Relationship Management (CRM) software package, which is streamlining our processes and improving the results we're achieving for our clients. We are in the process of developing three new websites, which will make it easier for our clients to understand what we do. Once complete, the websites will focus on four key areas:
  • Morpheus Property (residential buyer's agency services)
  • Morpehus Commercial (commercial buyer's agency services)
  • Morpehus Development (helping anyone involved in value-add work - small to large)
  • Morpheus Divestment (giving people guidance and advice with selling property)
In 2010, Morpheus Property hosted many property investment seminars and we were guest speakers for many more. We also kicked off the concept of 'Workplace Seminars' (property seminars during lunch breaks for busy professionals), which is gearing up to be one of our major activities for 2011.

Toward the end of 2010, we saw the commercial market start to wake up (after a dormant period) and we snaffled many bargains in the residential market. Although these were mostly investors, there were also a healthy number of home owners (mostly migrants or people moving due to work). In 2011, we are poised to take advantage of the buyers market and help our clients achieve some healthy capital gains in the years to come.

As we watch the year come to a close, we'd like to extend a big 'thank you' to all our professional colleagues and network referral partners, who supported us and our Morpheus clients! It's also, a good time of the year to thank our partners, friends and family for their ongoing support.

18 December 2010

Morpheus Property

Check out this SlideShare Presentation. It covers a basic summary of what we do at Morpheus Property, including:
- What Morpheus Property does
- How we do it
- How to identify a Morpheus Property client
- Benefits
- Our fees
- The Morpheus Property Solution

06 December 2010

INTEREST rates could stay on hold until April... Tim Blue From: The Australian December 06, 2010

INTEREST rates could stay on hold until April as the Reserve Bank considers soft economic indicators and listens to nervous retailers.
The bank meets tomorrow to decide on its next interest rate move, with no change expected.

"RBA governor Glenn Stevens has clearly indicated that the current level of interest rates is appropriate for the 'period ahead', given the additional increases in bank lending rates last month and the strong Australian dollar," AMP Capital chief economist Shane Oliver said yesterday.

"We don't anticipate the next tightening to come until April at the earliest.

"The soft patch in the economy shown in recent data also supports the case for interest rates staying where they are for now."

Economists claim to see "clear signals" from the RBA that rates will not be moving for some time.

Tim Blue From: The Australian December 06, 2010 12:00AM


CLICK ON THE LINK FOR THE COMPLETE ARTICLE
Yours in Property

02 December 2010

Go Green and Save Money

In delivering property solutions, many of our clients are starting to think and act 'green', especially our commercial clients. Colette Quelhurst and her team can help business owners improve bottom-line results by adopting a green focus, which is appealing to an ever growing number of environmentally discerning clients.

Below is a recent article explaining their services in a little more detail. If you would like more information, contact Colette on 0431 699 771 or 3203 8232. Their website is packed full of interesting facts and information - http://www.greenbizcheck.com/

Pictured: Peter Sobchuk from Goodlife Accounting with Colette Quelhurst from GreenBizCheck.

MOST businesses can make changes to become more environmentally responsible. And GreenBizCheck franchisee Colette Quelhurst says a green credentials assessment can also help cut costs.

The Scarborough resident has been running the North Brisbane branch for the past few months and said the audit process was recognised globally.

‘‘Businesses having a certain level of sustainability will become mandatory in a couple of years so we are getting them ahead of legislation,’’ Ms Quelhurst said. ‘‘I am finding that at this stage many people don’t understand what the process is but I am here to talk them through the benefits of an assessment.’’

GreenBizCheck provides businesses with a 260-point online assessment, with immediate reporting and action planning. The process was designed to help businesses reduce their impact on the environment, by reducing waste, energy and water use.

Ms Quelhurst said apart from the obvious benefits of pollution reduction and cost saving, other benefits for organisations to go green included saving money, motivating staff, attracting ecosavvy customers and utilising green credentials for marketing and PR.

‘‘We offer a 100 per cent moneyback guarantee if clients do not save at least the cost of certification,’’ she said.

01 December 2010

New Queensland Pool Safety Laws start 1st December 2010 - Today

The Queensland Government has introduced new pool safety laws aimed at reducing the numbers of children drowning in Queensland swimming pools. These laws affect new and existing pools.

Stage 2 of the new laws commence on 1 December 2010.

There is a vast range of information and resources available on the Queensland Governments Department of Infrastructure and Planning Website.

From 1 December 2010, pool safety certificates are required when selling or leasing a property with a pool. Pool safety certificates must be obtained from a licensed pool safety inspector. Information for pool owners, pool safety inspectors and pool safety inspector course providers is available on the Department of Infrastructure and Planning website: http://www.dip.qld.gov.au/poolsafety.

Find a Licenced Inspector here:
https://www.smarteda.qld.gov.au/pools/inspectors/inspectorSearch.action%3bjsessionid=3D199030FF5A5A8BCE9907E0F40C5FD3

Pool Safety Fact Sheets: If you are Selling or Leasing a property these facts sheets contain some very valuable information:
http://www.dip.qld.gov.au/fact-sheets/pool-safety.html

New Pool safety Flyer
http://www.dip.qld.gov.au/resources/poolfencing/pool-safety-brochure.pdf

New Pool Safety Guidleines
http://www.dip.qld.gov.au/guidelines/pool-fencing-guidelines.html

New Pool Safety Forms
http://www.dip.qld.gov.au/forms-templates/pool-safety-forms.html

All properties with regulated pools need to be included in the state-based pool safety register by May 2011. Initially Local Governments are including details of pools on the register. Pool owners will need to check the register to ensure their pool is registered.

Free public information sessions have been held across the state and there are two more of these sessions left. These information sessions are an opportunity for you to hear more about the new pool safety laws and what they mean for industry, business and pool owners.

Tuesday, 7 December 2010 2.30 pm - 6 pm Brisbane North Arana Leagues Club, 274 Dawson Parade, Keperra.

Monday, 13 December 2010 2.30 pm - 6 pm Ipswich Ipswich Golf Club, 1A Samford Road, Leichhardt.

For more imformation about these sessions contact:

Building Codes Queensland
Telephone: +61 7 3239 6369
Fax: +61 7 3237 1248
Email: buildingcodes@dip.qld.gov.au
Location: Level 5, 63 George Street, Brisbane, Queensland
Postal address: PO Box 15009 City East, Queensland 4002



If you have any questions contact Morpheus Property on 1300 911 576 or send us an email - enquiries@morpheusproperty.com.au. We can direct you to a licenced expert in your area.

Yours in property
Morpheus Property

22 November 2010

Market Research

If you're after a property market update and forecast, feel free to give us a call.

At Morpheus Property, we access and interpret a wide variety of news and research publications to help ensure we give our clients competent advice.

For the typical investor, researching the market comes from plenty of reading. However, not everyone's singing off the same hymn sheet. Some will sound like the end of the world is near and others will be quite optimistic.

First step is to identify the more credible sources of information, particularly those that take a more comprehensive view and appear to be well funded in their research. Then look for an aggregated opinion of the credible sources.

As you read through the many publications available on the web, you'll notice that some information will be more relevant to you and some will be quite redundant.

Here are a couple of reports from Westpac that you might find interesting. They cover 2010 - 2012 and cover residential and commercial property:
- Sydney Market Update
- Melbourne Market Update
- Brisbane Market Update
- Adelaide Market Update
- Perth Market Update
- Canberra Market Update

These days, we often live in a world of 'information overload'. At Morpheus Property, we can help you make sense of what's being said and how you can best take advantage of it.

As always, there are plenty of opportunities out there and we'll help you find them!

18 November 2010

What a Morpheus Agent looks for when inspecting a property? Your home or investment property!

Outside the Building

The first thing you should do as you arrive and walk up to any property, is to look at the roof from a distance. Does it look clean, in good repair or does it look poorly maintained and in need of replacing?

Inspect Decks, Verandas and patios.

The things to watch for here are:
• The quality and condition of all timber including the balustrades
• Ensure any footings comply with building standards and do not provide access for pests or opportunity for wood rot to set-in.
• The springiness of the floor boards could indicate they are spaced too far apart or are beginning to fail.
• External flashings to roofs and windows should be regularly monitored for water resistance
• Ensure good design principles have been followed and relevant Building Codes or legislation met by having a licensed inspector perform a building and pest report.

Underfloor space

Examine the condition of all building, shed and patio slabs, paying special attention to concrete cancer, dampness and damp damage. Underfloor space should have good drainage and ventilation in order to prevent timber rot. Common defects are dry rot or broken timber members. Steel members are unaffected by age, however could be affected by chemicals or heat. Look for concrete cancer and spot damage to slabs it is found.


Car lock-ups, ports and sheds

Check at the practical size of car spaces and the storage of other equipment particularly if there isn’t a shed. Conduct the same inspection you carried out on the timber deck, on any wooden car-ports.

See if the property has a shed and how practical it is in size and layout. The point to note here is that if the property lacks a shed or other appropriate storage then more than likely all that stuff that normally goes into a shed is going to end up in your garage. And this could mean that eventually your car ends up in the driveway or worse still, on the road.


Roofing - The wind and rain

The thing to watch for here are the quality of fixings for the battens and roofing, affixing roofing material to battens requires a special type of screw fixed in a particular way. If it is a tile roof, then the condition of the tiles, ridge cappings and points are the important issue.

Look for evidence of poor maintenance or damage to the roof, with the aim being to make sure that all water drains to storm water mains, road kerb and channel and rubble pits without damage to the building or nuisance to neighbours.

Looking at the quality and maintenance of guttering and drainage which if done properly will prevent water entering the house. Roofing should be bird and possum-proof.


Sewerage, drainage, guttering and roof plumbing

The main issues to look for in this area are the adequacy of the piping in place and how well has it been maintained? A coat of paint can hide a multitude of sins, so don’t confine your inspection to just how it looks. Scratch the surface and see what is revealed.

The number and capacity of down-pipes should reflect the size of the roof area. Make sure gutters are clear of leaves and branches. Ask questions about the sewerage and water pipes and see if there have been any tree root problems. If they exist, they should tell you about any material facts that affect the property.

Check any tanks are properly installed and whether they are gravity fed or serviced by an appropriately sized pump.

Electrical installations

The first point to be made is that ALL electrical work must be carried out by a licensed Electrician. Some points of note to make are that electrical items like air-conditioners are well maintained and clean.

Smoke detectors should be installed in all homes, regardless of their age or whether they are timber or brick construction. Double check all electrical leads, plugs and external equipment such as pool pumps. Outside electrical items can be damaged by wind, rain and constant exposure to the sun.

Check all outside lights and power points are well maintained and in working order.


Gas supply and bottled gas

The connection point of the gas supply to the house can suffer rust and other connection problems. Check bottles and gas fixtures & fittings for leaks and ensure that pipes supplying underground gas are not rusting, particularly at ground level.

All plumbing and gas work should be carried out by a licensed plumber and gasfitter.

House Interior

Bathrooms / En-suite

check all wet areas for adequate water resistant sealing. The cistern and pan should be checked for cracking, leaking and stability. Check the floor for cracking and if concerned in any way use water to test the gradient water flow. If the underfloor to the wet areas can be accessed, check the underfloor for water staining and damage.

Make sure the ensuite has good lighting and sufficient natural or mechanical ventilation. Check the operation of the taps and wash basin.

Kitchen
Things to look for? Check to see if:
• the location of kitchen appliances isn’t concealing any defects.
• The kitchen bench-tops for lifting laminate or water damage.
• The sink taps for water flow, leaking, dripping and water hammer.
• Tiled areas should be checked for loose or cracked tiles or defective grouting and sealant.
• Poor quality construction material isn’t hiding behind bench surfaces. Standard grade chipboard will be quickly ruined by any contact with moisture.
• Make sure all fixture appliances are in working order, including those often forgotten ones such as insinkerators etc …


Laundry

Check the gradient of the floor and how well it drains to the floor waste. Ensure taps operate well and check water flow; leaking; dripping and water hammer. Tiled floors should be examined for loose or cracked tiles and defective grout or sealant. Adequate ventilation is required, either natural or mechanical.

Check behind appliances for damage to walls, floors and to appliances themselves. Full waterproofing around wet areas will help prevent damage by water entering the timber.


Internal roof framing

This inspection should be conducted by a licenced professional because you will have to get up into the roof cavity and know what you are looking for. Your professional should look for bowing and broken timbers. The position and condition of all internal bracing, which will affect the structural capacity of the roof. Roof battens may also be damaged, if there are excessive loads. This inspection should reveal any water leaking or damage from broken or displaced roofing tiles, lifting roofing materials or poorly secured sheeting.


Stairs

Check stairs to ensure stringers, hand rails, posts, treads and risers have not been damaged by rot or rust. Be aware that patches and paintwork can hide defects. Any movement will need to be repaired, as a moving tread or balustrade may gain increased momentum and fail without warning. For external stairs, good protective coatings and weather-proofing will help prevent damage and failure.


Ceilings

Check the ceiling plaster for any evidence of sagging, nails popping, defective lining and surface cracks. Dampness often indicates roofing defects. In cases of severe water penetration, inspect the ceiling joists closely. Heat and humidity coupled with water near the timber, creates an ideal atmosphere for wet rot. Examine the plaster around cornices for looseness or cracking which may indicate structural defects. If in doubt get a licensed professional to make further investigations.


Kitchen, bathroom and laundry Cabinets, Appliances & Fittings

Check all permanently fixed cabinets and appliances in wet and high traffic areas, as they can hide defects under or behind them. All vanities, cupboards and storage systems should be checked for damage to doors and drawers.

Check Vacuum Systems for effectiveness and checked for blockages.

Floors, doors and windows

Floors

All floor types including concrete floors should be checked for cracking and even levels.

Wooden floored areas should be checked for springy and squeaky boards, rot, out-of-level boards, dampness and damp damage. Serious problems can occur where ground floor joists are poorly ventilated, so make sure you inspect sub-floor areas if possible.


Doors

Blemishes on the surface of newly painted areas may conceal corroded frames. Damaged doors are usually easy to detect / notice. Ensure doors and windows operate smoothly. All timber exterior doors are likely to absorb rainwater, as they are rarely painted there. Look for signs of blistering paint or varnish down around the bottom. In some cases the timber swells to prevent proper operation.

Windows

Check for adequate window flashing around mouldings and sills. Any water staining, peeling or loose paint could be indicative of more extensive damage. If a window frame is soft and easily penetrated, it could lead to rotting frames. External surfaces need to be maintained with waterproof flashings and coverings (paint, oils or varnish) so check for evidence of this maintenance.

Housing Build types

Brick & Brick Veneer

Ensure the weep holes in external brick walls are clear of debris. Ensure weep holes under windows and above the Damp Proof Course are visible. Check for dampness and damp damage. Ensure method of water proofing does not create more problems than it solves. A common problem is foundations failure and mortar build up within cavities.

Also look for the tell-tale mud tracks of pest infestation on external surfaces. Garden beds and timber products directly adjacent to the slab and external building walls are danger signs that should be investigated to their fullest extent.

Timber

Paint can be used to cover defects and the use of matte finish paints can be used to hide fresh paint work. Check for water damage and damage due to exposure to the elements. Ensure that house cladding is not covering up defective boards. Check timber stud wall frames for damage.

All timber boards should be examined for rot and pest damage. If there is superficial damage, then determine the cause and extent of the damage. White ant investigation should be done by a licensed Pest Inspector with attention paid to the presence of both physical and chemical barriers. Inspection of garden beds and loose timber or timber products against the structure of the house may reveal white ants or other pest’s problems covered.

Steel

Weathering steels may appear to have good structural adequacy but should be checked very closely. If in any doubt, seek professional advice from a structural engineer or master builder.


Yours in property
Morpheus Property


This article is for the general use of Morpheus Property, its clients. Neither Morpheus Property Group Pty Ltd nor any of their officers or employees gives any warranties nor accepts any liability for any decision with respect to investment or non investment, sale or purchase of property which is made as a consequence of the use of this article.

Morpheus Property Group Pty Ltd believes the statements, information and recommendations contained herein to be correct and not misleading but give no warranty in relation thereto and expressly disclaims any liability for any loss or damage which may arise from any person acting or deciding not to act partly or wholly on the basis of any such statements, information and recommendations.

04 November 2010

"Night at the Local" - 17th November


Affectionately called, “Night at the Local”, your Aspley Westpac Branch is opening the doors after hours and is extending a warm welcome for you to join us.

These events are an excellent opportunity for you to meet and mingle with many of the local business owners and members of the community.


"Investing in Property - Getting it right!"

Guest speaker is Martyn Fleming from Morpheus Property - your local Buyer’s Agency.

Morpheus Property helps people buy residential and commercial property.

This event will focus on property investment and how to really get that portfolio moving. One of the biggest challenges is ensuring investors buy property that suits their individual needs, including the right type, price, location, risk profile, capital growth and return.

Using a workbook approach, Martyn will lead you through the process to identify the class of property that best suits you. It’s an interactive session and you’re encouraged to ask any questions you may have.



Meet Footy Legend, Tonie "Tunza" Carroll

Following an impressive rugby league career at club, state and international levels, Tonie has made his knowledge and skills available to you through TUF or “Tunza Ultimate Fitness”. TUF offer various levels and types of training, including:

  • Corporate
  • Personal
  • RL & RU defensive technique and elite fitness training
  • RL & RU defensive structure systems

To help celebrate a “Night at the Local” with the Aspley Westpac branch, Tonie is offering one lucky winner a FREE 1 hour personal training session. To be in the draw, simply be there on the night!!


When 6:00pm – 7:30pm Wednesday
17 November 2010

Westpac Branch, 1347 Gympie Road, Aspley
RSVP Mel Pope on 3630 9222, 0410 446 502

or mapope@westpac.com.au

Drinks and canapés provided

Networking is encouraged, so bring your business cards

Door prizes (sourced from local businesses)


12 October 2010

An Article on Wills and Estates from our Legal Partner, Quinn Scattini:



An Article from our Legal Partner, Quinnn Scattini:

Most people hear the word “Probate” and wonder what it means. Let’s clear up some misconceptions. “Probate” does not have anything to do with taxes. “Probate Duties” were abolished in Queensland many years ago.

Nowadays, the usual expenses associated with Probate are the court filing fee, advertising costs and legal fees. No taxes as such. There is a difference between Probate and administering an estate. Every estate must be administered,
but not every estate requires Probate.

“Administering” an estate generally means collecting the assets, paying the debts and distributing the estate in accordance with the will. To put it simply, Probate is a document issued by the Supreme Court. It contains the court’s official seal, so that it is accepted as your authority to deal with the estate.

To obtain Probate, you must prove to the court that:
• The person named in the will is deceased;
• The will is in fact the last and valid will of the deceased person; and
• You are in fact the executor named in the will.

This is proven by affidavits (sworn statements) verifying these details. If there are any conditions attached to your appointment as executor, the fulfillment of those conditions must also be proven to the court.

As stated above, it is not always necessary to obtain Probate. However, if you administer an estate in accordance with a will, and that will is later found to be not valid or not the last will of the deceased, then you will be personally liable to the true beneficiaries for the value wrongly distributed.

You will not be liable in this way if you have obtained Probate of the will. You will need to get Probate if an asset-holder (such as a bank) insists on it. They will usually do this if the estate asset they hold is very substantial (e.g. a bank account over the Probate threshold set by the particular bank – usually about $50,000).

It usually takes about 3 months to get Probate. This includes placing advertisements (you will see them in the Public Notices section of a newspaper), waiting for the 14-day public notice period to expire, preparing the necessary documents and filing them in the Supreme Court, and then waiting for the court to assess the documents and issue the Probate document.

Quinn Scattini Partner, Russell Leneham, is an Accredited Specialist in Wills & Estates. Russell and his team can assist with all your estate needs, including estate planning, estate administration, and estate disputes.

Freecall 1800 652 969
mail@quinnscattini.com.au
Liability limited by a scheme approved under professional standards legislation




Morpheus Property
The Right Property at the Right Price!

26 September 2010

Property Investment Seminar on Brisbane's North Side!!

Book now for your FREE Educational Seminar, which explains the fundamentals of investing in property.

As you know, many people in the real estate industry try to sound clever by over-complicating the topic, in an attempt to sell a book or promote themselves. This results in many investors not knowing which way to go, or leaving them in a state of "analysis-paralysis".

Attending our FREE Seminar, you'll hear from property, financial and legal experts on the topics that will give you clarity and confidence to take the next step!


This seminar will be held in Caboolture on the 7th October, 2010. To register, go online to http://caboolture.eventbrite.com.

You'll also have the chance to ask the panel members questions in an interactive Q&A session. If you would prefer to remain anonymous, but still hear answers to your questions, feel free to ask your questions as you register online.

Look forward to seeing you there!

14 August 2010

Property Seminar and Networking Opportunity

09 August 2010

Extra Extra .. Hear all about it! Tuesday 10th August 2010.


Hear from the horses Mouth what the Coalition and Labour Parties will do to help small business after the election.

Terri Cooper of the Australian Small Business Group has organised the Small Business Forum to be conducted in Brisbane on 10th August 2010 at the West Room Colmslie Hotel Cnr Wynnum & Junction Rd Morningside.

This is a must attend event before you cast your vote on August 21. Minister for Small Business, Craig Emerson and Shadow Minister for Small Business, Bruce Billson, will go head to head to inform us of their policies and pl...ans for small business should they be elected.

Take this opportunity to voice your opinion, ask questions and be informed on what is being offered for small business.

No one knows what small business needs better than small business owners!

For more information visit the website - http://www.australiansmallbusinessgroup.com.au/forum

Proudly and loudly supported
by Morpheus Property

02 August 2010

Terri Cooper FREE Networking event







TERRI COOPER CONSULTANCY PRESENTS:

A Free Networking Night

Come along to Terri's Networking night, promote your business, meet like minded people - all for FREE!

Everyone Welcome!

Tuesday August 3, 6pm - 8pm

Simply register to attend and come along and network free of charge. Check out the sponsors tables and enjoy the yummy nibblies. You can also place business cards or fliers on Terri's Trade Table.

Everyone welcome! Please feel free to forward this invitation on to your business contacts.

Cash bar available for all drinks.

Registration is essential. - http://terricooper.com.au/freenetworking.htm

DON'T MISS THIS FANTASTIC OPPORTUNITY TO NETWORK AND PROMOTE YOUR BUSINESS FOR FREE.

Where:
Summit Events Centre
Iceworks Building
Level 1, 157 Given Tce Paddington
(Corner of Dowse Street and Given Terrace, opposite Suncorp Stadium)
Free parking underneath


PS: Bring plenty of business cards & Flyers for the Trade Table.

NETWORK! PROMOTE YOUR BUSINESS! MAKE NEW BUSINESS CONTACTS

Thanks Terri for putting on this great event!

29 July 2010

SEMINAR - Buying the right property at the right price!


Consider 6 Key Things Before Investing in Property…

Know what your options are for a well informed decision.

Remember, even if you are buying a home to live in yourself, you should do so with an investment mindset. This event is equally relevant for you and your situation.

You are invited to this must attend information seminar designed for anyone thinking of buying or investing in property.

Hear the answers to important questions, such as:
• What makes a good property investment?
• What type of investment properties are there?
• Which refinancing options are suitable for me?
• How can I utilise my equity?
• How do I start the process?

Gain invaluable investment tips from Morpheus Property –one of Brisbane’s leading property research and investment firms, specializing in sourcing high growth and superior quality residential property.

Gain invaluable information about asset protection from Quinn & Scattini – one of Brisbane’s finest legal firms who specialize in assisting their clients with every legal matter that comes up during a life time.

Seminar 1Date: 4th August 2010
Time: 6:30pm
Address: Icon Bar & Bistro, Raby Bay Harbour,Cleveland Qld 4163
Cost: $30 - ($10 from every ticket will go to Bravehearts).
Coffee and tea provided

Numbers are limited so RSVP at this link - http://clevelandseminar.eventbrite.com/
Yours in property
Morpheus Property

09 July 2010

Let's talk about Negotiation


"When negotiating a property deal Knowledge is Power!"


Negotiation

Negotiation is an art, not a science. The art of negotiation is not win-at-all-costs. It is about negotiating a contract where the seller can feel like they are winning in the deal. Remember if the seller has taken the trouble to list their property then they are motivated to sell (some more than others).

One of the keys to property negotiation is not becoming emotional about the transaction. It is only when you are able to walk away from a deal that you truly begin to negotiate, otherwise all you are doing is haggling over the list price.

We have a list of 19 questions we ask every agent about each property, which researches the seller’s position and also acts to reduce price expectation. Some examples of these are:

1. How long has the property been on the market?
2. Why are they selling?
3. Who came up with the list price? How was that price reached?

The fatal traps of negotiation

At Morpheus Property we have experienced many different negotiation styles, techniques and situations. We would like to share some of the pitfalls of negotiation.

1. Poor or no planning - This has to be the biggest failing of many negotiators and the major reason for not achieving the best outcome. Take time to develop a plan of attack.

2. Don’t talk too much - One of the overlooked talents in negotiation is the ability to “shut-up”. If you remain calm and listen more, you will be amazed at what you will learn and achieve.

3. Negotiating verbally - A written offer shows you mean business. It will also give the sales agent better ammunition to convince the seller that this is your best offer. Always put a sunset clause on any written offer. Making the offer for a limited time will encourage the need for action.

4. Not following your gut instinct - This doesn’t mean following the first reaction that comes to your mind. However you do need to develop a gut instinct for the situation. Gather as much data and information about a property deal and then let it have time to ferment. Listen to your gut instinct but only after you have told your gut all it needs to know.

5. Take no prisoners approach - Coming in hard and fast will rarely deliver the “best deal”. Take your time and build rapport. Find out as much as you can about the seller and the property. Steady as she goes will win the day!

6. Don’t aim too LOW - Be careful what you ask for, you might just get it. Fortune favours the brave and much of negotiation is having the guts to ask for something.

Yours in property
The Morpheus Guy's

17 June 2010

What to look for in a Buyer's Agent?

As we know, buying property can be so much easier and profitable when you have someone representing you. Having competent representation means you can sit back, relax, while your advocate deals with the property owners and sales agents.

However, the Property Agents & Motor Dealers Act 2000 (PAMD Act) makes it illegal for anyone to represent buyers (or sellers), unless they are licensed agents under the Act. If someone is providing these services, it's a fair to ask your agent:
1. "Do you have a current real estate licence?"
2. "What is your licence number and when does it expire?"

Asking these questions will give you peace of mind that your agent has completed the necessary study and is appropriately qualified to represent you, the buyer. So 'yes', people who are acting without a licence are acting illegally!! This includes people who might try and perform Buyer's Agency services as a adjunct to their business, but don't specialise in the field or have a licence issued by the Office of Fair Trading.

Beyond a question about licences, you might also ask them how many years of experience they have as a Buyer's Agent. You should also ask about their skills, knowledge and training which are relevant to working as a Buyer's Agent.

Ultimately, you need to be convinced that the Buyer's Agent you employ has the licence, skills, knowledge and experience to help you get you the best result.

If you'd like to learn more about your Morpheus Property agent and how we can help you, call us on 1300 911 576.

13 June 2010

What is a Buyer's Agent??

Buying property can be a rewarding experience and many everyday people have generated substantial wealth through property. However, you may have noticed that some do better than others. You might ask yourself why this is the case.

As with most disciplines, a healthy combination of skills, knowledge and experience are the key ingredients to success.
The difficulty is that most people only buy property once every 5 - 7 years. The average buyer cannot compete against seasoned sales agents and the strategies they use to push up prices.

Historically, people buying in
Australia have either had to fend for themselves or ask for help from a friend or family member. Some would ask for help from their accountant, solicitor or related profession. Recent changes to legislation only enable people with a real estate licence to represent a buyer in a property transaction. The old way of buying real estate included a buyer, sales agent and a seller.


The best model of buying property now includes a buyer’s agent, which moves the burden of searching, analysing and negotiating property from the buyer to an expert in that field.

Today, buyer’s agents have a proven presence in the real estate market and are helping to even up the odds.

There are three types of buyer’s agents:

1. Exclusive Buyer’s Agents – Where the buyer’s agency exclusively represents buyers and do not represent people selling property. Their expertise is focused purely on buying property.

2. Non-exclusive Buyer’s Agents – Where the agency represents people buying and selling property. Their time and attention is split between buying and selling property.

3. Pseudo Buyer’s Agents – sales agents who use a veil of deception to make buyers believe they are being represented. In reality, these are agents who have a legislative obligation to the seller and use deceptive tactics to weaken the buyer's position. Also known as “Buyer’s Representative”.

Morpheus Property are exclusive buyer’s agents and have a team of highly trained professionals with the skills and experience to represent you exclusively. Our legislative obligation is to the buyers to ensure we get you the right property at the right price.