Agent says flood victims should consider all their options Take stock of situation

Date: 25 March 2011

First National Action Realty Ipswich principal Garth Llewellyn said victims of Australia’s recent spate of natural disasters should delay making major decisions until they had time to recover both emotionally and physically “A natural disaster does a lot more damage than the debris and destruction that can be seen,” Mr Llewellyn said.

“They can leave a person suffering unimaginable losses, stressed and struggling to come to terms with their loss. They need to give themselves the time to consider all the options that are available to them before deciding whether they wish to rebuild or move elsewhere.” According to Mr Llewellyn, the best advice he can offer is to talk to their local real estate agent, who may have some helpful tips on a variety of forms of assistance, the renegotiation of loan arrangements or other options they may not have thought of These tips may include things such as: Look at whether there is a council buy-back scheme for properties in “disaster” zones and, if so, whether you are or may be eligible now or some time in the near future Banks and other mortgage providers may be prepared to provide interest-free periods or other financial relief Tenants and landlords should review their rights by visiting the respective residential tenancy authorities in each state there may be options for rent relief or early termination
of lease agreements Seek the assistance of non-profit organisations that providing housing and construction skills.

Recent home buyers who entered an “unconditional” sale contract may also have options depending on the definition of “habitable” or “not habitable” in the contract.

It may be worth considering waiting a while before deciding to finally leave the area. While there is often an initial reduction in home prices following a natural disaster event, prices have been found to mostly recover within 12 months, and so the financial impact could be substantially reduced.

Review and update insurance cover to ensure the property is protected from similar disastrous events in the future.

Look for discounted services and goods, which can generate significant savings for today and the future “Having been through all of these disasters (1974 and now 2011) we are very happy to have our experiences and offer our assistance wherever possible in which every way it may be needed,” Mr Llewellyn said.

“Picking up the pieces of one’s life after a natural disaster is no easy feat, but you can make sure it counts for something.

“That means taking the time out to rebuild your life so that it is better and stronger than before and you and your family are able to meet future challenges head on.”

Article date: 25 March 2011

First National Action Realty Ipswich
Back to articles Filed under: Media / QLD News Tags: community, first national real estate action realty ipswich, garth llewellyn
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