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Statement of InformationSingle residential property located in the Melbourne metropolitan area Section 47AF of the Estate Agents Act 1980Property offered for sale Address Including suburb and 9 Hume
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How to fill out median sale price
How to fill out median sale price
01
Gather the data on sale prices of properties in the specific area.
02
Arrange the sale prices in ascending order.
03
Calculate the total number of sale prices available.
04
Determine the middle value of the sale prices. If the total number of sale prices is odd, the middle value is the median. If the total number of sale prices is even, calculate the average of the two middle values to find the median.
05
The resulting value is the median sale price for the specific area.
Who needs median sale price?
01
Real estate agents who want to understand the market trends.
02
Buyers who want to assess property prices in a certain area.
03
Sellers who want to set a competitive sale price for their property.
04
Appraisers who need to determine property values for tax or insurance purposes.
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What is median sale price?
The median sale price is the middle sale price in a list of prices, where half of the prices are higher and half are lower.
Who is required to file median sale price?
Businesses or individuals involved in real estate transactions are required to file median sale price.
How to fill out median sale price?
To fill out median sale price, list all the sale prices in order, then calculate the middle price.
What is the purpose of median sale price?
The purpose of median sale price is to provide a representative value that is not affected by extreme outliers.
What information must be reported on median sale price?
The sale prices of all properties involved in the transaction must be reported on median sale price.
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