> RTA – Forms & Resources – https://www.rta.qld.gov.au/forms-resources
Glossary of Terms
Auction: Public sale of property to the highest bidder, providing the reserve price is met or exceeded.
Breach of Contract: Breaking terms of a signed contract
Caveat: A document lodged with the Titles Office by any person to ensure the property is not sold without their knowledge.
Caveat Emptor (Buyer beware): Places the responsibility of the buyer to be satisfied with the item before buying a property.
Chattels: Personal property. There are two types. Real Chattels include buildings and fixtures. Personal Chattels include clothes, furniture etc.
Common Property: Strata Titles areas shared by all owners.
Contract Note/Terms and Conditions: Written agreement outlining terms and conditions of a property sale.
Contract of Sale: A legal document that sets out all the terms and conditions the seller and purchaser have agreed on.
Conveyancing: The legal process of transferring property ownership from seller to buyer.
Covenant: Conditions affecting the use of property or land written into the title.
Deposit: Approximately 10% of the purchase price placed in trust as evidence of intention to buy. Non-refundable after the contract becomes unconditional.
Easement: The right held by a person to use land belonging to someone else for a specific purpose. Mains, drains and water pipes are usually covered by an easement.
Encroachment: When a building overhangs someone else’s property or a fence is built over the dividing line between two properties.
Encumbrance: A mortgage, easement or liability over a property impeding its use or transfer. Exclusions: Any item not specified as part of the sale of the property. i.e. dishwasher
Equity: The difference between the market value of the property and any outstanding loans on the property.
Freehold: An owner’s interest in the land where the property and the land on which it stands both belong to their owner indefinitely.
Highest Bidder: The person who posts the highest bid at an Auction will purchase the property provided the reserve price had been met or passed.
Offer to Purchase: A formal legal agreement, which offers a specified price for a specified property.
Passed In: A property will be passed in at Auction if it does not meet the Reserve Price.
Private Treaty Sale: Sale of a property through an agent, involving private negotiations and contracts.
Reserve Price: The minimum price the seller has specified they will accept at Auction.
Stamp Duty: A state government tax calculated on sale price, varying between states.
Settlement: A date is set for the settlement of the sale. At this point the balance of the purchase price is paid and ownership of the property transfers from the seller to the buyer.
Transfer: A document registered at the Land Title Office and noted on the Certificate of Title, which verifies change of ownership of a property.
Unconditional/Exchange of Contracts: When signed copies of the Contract of Sale are physically swapped between the seller and the purchaser.
Vendor: The seller
Useful Links
Australian Bureau of Statistics
The Australian Bureau of Statistics is Australia’s official statistical organisation. Realty Pacific Research use ABS statistics on a daily basis including rich demographic information, population data, dwelling approvals and a variety of other information.
Brisbane City Council Development Page
This page outlines the development process in Brisbane City. It has a very useful tool that allows you to view the full text of development applications online.
NSW Department of Housing
The NSW Department of housing produces excellent statistics on median rental rates and housing sales reports throughout the state.
Property Council of Australia (PCA)
The PCA are one of the peak industry bodies for the property industry. The organisation produces a variety of property related research (see their Cyberstats page) and also organise industry events.
Queensland Local Government and Planning
The Local Government and Planning division of the Queensland Government provide a range of demographics and reports that are relevant to the property industry. Of particular interest is the Planning and Information Forecasting Unit (PIFU) who provide detailed reports such as the Broadhectare Study, Land Activity Monitors, and Population Projections.
Queensland Office of Economic and Statistical Research (OESR)
The OESR site contains a wide range of demographic, economic and social data relating to the state of Queensland. Of particular interest are the OESR’s Economic Update reports.
Queensland Residential Tenancies Authority
The statistics page on the RTA web site provides comprehensive statistics on median rental rates, the number of bonds lodged and held, and operational reports for most areas in Queensland. The RTA have a dedicated research officer who produces excellent property industry statistics.
The Housing Industry Association
The industry body for the residential construction industry, the HIA has a respected economics unit that studies new home starts and construction costs.
Tourism Queensland
Regularly undertakes comprehensive analysis of the Queensland tourism market. Also has a useful image library of Queensland tourism destinations.
Urban Development Institute of Australia (UDIA)
The UDIA promote the urban development industry in achieving sustainable urban development. The organisation is constantly organising property seminars, forums, networking, and information presentations. These occasions are well worth attending and provide an excellent opportunity to become more informed about the property industry.
Reserve Bank of Australia
The Reserve Bank of Australia is the central bank for the nation. Realty Pacific Research use RBA statistics on a daily basis including information on monetary policy, exchange rates, commodity prices, inflation and a variety of other information.
NAB
The National Bank of Australia has a well respected economics team that regularly produce reports concerning the Australian and foreign economies.
Pricefinder
PriceFinder is an online property search application offering a range of tools to assist in generating timely information for all residential, commercial and rural properties.
Pricefinder is the key tool used by one of Australia’s leading property data providers, PDS.
Privacy and Terms
Privacy Policy
Realty Pacific Real Estate is committed to adhering to the Privacy Act 1988 (Cth) and related Australian Privacy Principles.
Collection of Personal Information
Our people are dedicated to providing innovative solutions for our clients across a broad range of services and locations. In order for us to provide you with such solutions, we may ask you for personal details such as contact information, and the types of solutions that may interest you.
We want to be able to contact you with information regarding a service or product on offer.
Realty Pacific Real Estate will endeavour to collect the information from you personally, including telephone communication, email, post, and in person.
We may also collect information via social media, access to our website, from our suppliers or partners, public sources, private vendors, job applicants, and data suppliers. If someone collects the information on our behalf, we will ensure that they are aware of this policy.
Use and Disclosure of Personal Information
Realty Pacific Real Estate may use the personal information we have collected for the purpose of responding to your enquiries, to advise you of an offering or service you have requested, and to help carry out our obligations arising from any contracts entered in to between you and us.
We may disclose your personal information to recipients located outside Australia. These recipients may include:
- Group companies
- Group service providers
- Partner organisations
- Government organisations or statutory authorities
If we disclose personal information to another party, we will ensure that the party is aware of this policy.
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your device’s IP address (collected and stored in an anonymised format) device screen size
device type, operating system and browser information
geographic location (country only)
referring domain and out link if applicable
search terms and pages visited
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Direct Marketing Materials
We may send you direct marketing communications and information about offerings and services that we consider may be of interest to you. These communications may be sent in various forms, including email, post, or SMS, in accordance with applicable laws, such as the Spam Act 2004 (Cth).
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Storage and Access to Personal information
The personal information we hold will be stored electronically in secure data centres located in Australia. We transfer data outside of Australia to our service providers in order to obtain secure storage, back-up and data retrieval services and to provide services.
Realty Pacific Real Estate have implemented policies and procedures to safeguard the secure storage and processing of data with and have verified the security arrangements of its outsourced data providers. When you provide us with your personal information you give us your consent to store your personal information outside of Australia for the purposes described above.
We review the information we hold in these centres regularly.
If you require access to or correction of your personal information please contact the, via the contact details below.
Once a request for access to personal information is received, we will require proof of identity. For most requests, the information will be provided free of charge. However, a reasonable fee may be charged if your request requires a substantial effort on our part.
If we have personal information that is no longer required, Realty Pacific Real Estate will take reasonable steps to destroy the information.
Concerns and Complaints about Personal Information
If you are concerned about how your personal information is being dealt with or if you would like to make a complaint, please contact us via the contact details below. We will investigate your complaint and respond to you within the reasonable time. If you are unhappy with our response, you may direct your complaint to the Office of the Australian Information Commissioner.
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Phone:
07 3398 9899
Email:
sales@realtypacific.com.au
Address:
Realty Pacific Real Estate
PO Box 360 Carina Qld 4152
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Notice specific to the Realty Pacific Real Estate Website
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are urged to consult their professional advisors prior to acting on any of the material contained within this site.
Disclaimer
The information contained in this site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this site.
While we have made every attempt to ensure that the information contained in this site has been obtained from reliable sources, Realty Pacific Real Estate is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose.
In no event will Realty Pacific Real Estate, its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages.
Certain links in this site connect to other Web sites maintained by third parties over whom Realty Pacific Real Estate has no control. Realty Pacific Real Estate makes no representations as to the accuracy or any other aspect of information contained in other Web sites.
Australian Bureau of Statistics
The Australian Bureau of Statistics is Australia’s official statistical organisation. PRDnationwide Research use ABS statistics on a daily basis including rich demographic information, population data, dwelling approvals and a variety of other information.
Brisbane City Council Development Page
This page outlines the development process in Brisbane City. It has a very useful tool that allows you to view the full text of development applications online.
NSW Department of Housing
The NSW Department of housing produces excellent statistics on median rental rates and housing sales reports throughout the state.
Property Council of Australia (PCA)
The PCA are one of the peak industry bodies for the property industry. The organisation produces a variety of property related research (see their Cyberstats page) and also organise industry events.
Queensland Local Government and Planning
The Local Government and Planning division of the Queensland Government provide a range of demographics and reports that are relevant to the property industry. Of particular interest is the Planning and Information Forecasting Unit (PIFU) who provide detailed reports such as the Broadhectare Study, Land Activity Monitors, and Population Projections.
Queensland Office of Economic and Statistical Research (OESR)
The OESR site contains a wide range of demographic, economic and social data relating to the state of Queensland. Of particular interest are the OESR’s Economic Update reports.
Queensland Residential Tenancies Authority
The statistics page on the RTA web site provides comprehensive statistics on median rental rates, the number of bonds lodged and held, and operational reports for most areas in Queensland. The RTA have a dedicated research officer who produces excellent property industry statistics.
The Housing Industry Association
The industry body for the residential construction industry, the HIA has a respected economics unit that studies new home starts and construction costs.
Tourism Queensland
Regularly undertakes comprehensive analysis of the Queensland tourism market. Also has a useful image library of Queensland tourism destinations.
Urban Development Institute of Australia (UDIA)
The UDIA promote the urban development industry in achieving sustainable urban development. The organisation is constantly organising property seminars, forums, networking, and information presentations. These occasions are well worth attending and provide an excellent opportunity to become more informed about the property industry.
Reserve Bank of Australia
The Reserve Bank of Australia is the central bank for the nation. PRDnationwide Research use RBA statistics on a daily basis including information on monetary policy, exchange rates, commodity prices, inflation and a variety of other information.
NAB
The National Bank of Australia has a well respected economics team that regularly produce reports concerning the Australian and foreign economies.
Pricefinder
PriceFinder is an online property search application offering a range of tools to assist in generating timely information for all residential, commercial and rural properties.
Pricefinder is the key tool used by one of Australia’s leading property data providers, PDS.