VIC 47AF Single Residential Property Instruction Manual

VIC 47AF Single Residential Property

Specifications

• Property Type: Single Residential
• Location: Outside Melbourne metropolitan area
• Address: 104 BRIDGE STREET, KORUMBURRA, VIC 3950
• Indicative Selling Price Range: $590,000 to $649,000
• Median Sale Price: $550,000
• Sales Period: 01 October 2022 to 30 September 2023

Product Usage Instructions

Step 1: Understanding Property Details

• Review the property details including the address, indicative selling price, and median sale price to familiarize yourself with the property.

Step 2: Sales Comparison

• Compare the property with the three most comparable properties sold within five kilometers in the last 18 months. Note down the addresses, prices, and dates of sale for reference.

Step 3: Contact Information

• If you are interested in the property or have any queries, refer to the provided contact information or visit consumer.vic.gov.au for further details.

FAQ

Q: What does the indicative selling price range signify?

• A: The indicative selling price range provides an estimated price bracket within which the property is expected to be sold.

Q: How can I verify the median sale price?

• A: The median sale price indicates the middle price of all sales that occurred within a specific period. You can verify this information through official records or real estate websites.

Q: What is the significance of the comparable property sales?

• A: Comparable property sales help in understanding the market value of the property by comparing it with similar properties that have been recently sold nearby.

Single residential property located outside the Melbourne metropolitan area

Instructions

• The instructions in this box do not form part of this Statement of Information and are not required to be included in the completed Statement of Information for the property being offered for sale.
• The Director of Consumer Affairs Victoria has approved this form of the Statement of Information for section 47AF of the Estate Agents Act 1980.
• The estate agent or agent’s representative engaged in selling the property is required to prepare this Statement of Information.
• It must be used when a single residential property located outside the Melbourne metropolitan area is being offered for sale.
• The Determination setting out the local government areas that comprise the Melbourne metropolitan area is published on the Consumer Affairs Victoria website at consumer.vic.gov.au/underquoting.
• The indicative selling price in this Statement of Information may be expressed as a single price, or as a price range with the difference between the upper and lower amounts not more than 10% of the lower amount.
• This Statement of Information must be provided to a prospective buyer within two business days of a request and displayed at any open for inspection for the property for sale.
  It is recommended that the address of the property being offered for sale be checked at services.land.vic.gov.au/landchannel/content/addressSearch before being entered in this Statement of Information.

Property offered for sale

• Address Including suburb and postcode
  • 104 BRIDGE STREET, KORUMBURRA, VIC 3950
• Indicative selling price
  • For the meaning of this price see consumer.vic.gov.au/underquoting
  • Price Range: $590,000 to $649,000

Median sale price

Comparable property sales

These are the three properties sold within five kilometers of the property for sale in the last 18 months that the estate agent or agent’s representative considers to be most comparable to the property for sale.

Address of comparable property

Price/Date of sale

• This Statement of Information was prepared on: 19/12/2023
• consumer.vic.gov.au/

Documents / Resources

| VIC 47AF Single Residential Property [pdf] Instruction Manual
47AF Single Residential Property, 47AF, Single Residential Property, Residential Property, Property
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References

• Consumer Affairs Victoria - Consumer Affairs Victoria
• Understanding property prices and underquoting for buyers - Consumer Affairs Victoria

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