Forum Replies Created
Michael,
I’m assuming the original contract was unconditional, so no matter what the funds will have to be ready at settlement anyway.
I dont know what you mean about proper disclosing to the end purchaser, The S32 and ‘particulars of sale’ will have all the details the end purchaser requires. If the see this info and sign the contract it will be them that owe you if the cant settle not the other way around.
aluminatiWrappack,
It propably would be cheaper and more efficent to install your own sewage treatment plant.
There is some great systems on the market at the moment capacities from 1 property to 200.
It consists of a grease interceptor pit that takes all the fatty waste then a sewer ejector pit. That seperates solid organic and bio waste and transfers this to a treatment tank underground that is purged with bacteria. This then is vented into the air. The water product is then passed through a tripple UV filter and the end product is something you can sell back to your subdivisions as grey water for gardens and or farm usage.
The system if done properly has the ability to buy itslf back.
aluminatiStevie,
I see you are in melb.
There is one way you may be able to unlock a deposit. Not yours but your purchasers.
After you have sold your property and recived a deposit ( if you decide to recieve one) the ask your solicitor to send the purchaser a section 27, this is an authority for them to disclose the deposit they paid to you for your useage. They may not sign but its worth a shot.
aluminatiI rekon….
If you are refering to the new stamp duty.
It only hurts if you sell.
People wont sell.
The reduction in supply will offset any minor negative effect of the market as the reduction is stamp duty for FHB will bring along a lot of potential buyers who can now afford a property.
This increase in demand after a while will cause another increase in the lower end priced properties.
just my opinion.
aluminatiWhat state r u in?
Get your property valued by a valuer and also just interview some agents for research purposes.
Gives you a rough idea of whats happening in your area.
If in VIC you must have a section 32(VS) ready as you cannot accept a deposit without one. Get yourself a good solicitor. I would advise against a conveyencer.
aluminatiIf your not confident about dealing with agents or making offers then an buyers rep is great. Make sure they are not from the sane area as the agent. Have been stung with that one before.
aluminatiI agree.
The best formula is useless against world events and natural disasters as we have seen time after time.
THEY are out there controlling events and world structure as we speak. Unless you are one of THEM you will never know what structure the economy or world events will take. Therefore It is immeasurable.
One things for certain, THEY are involed in the money buisness and steadily low inflation and low intrest rates are not good for THEM.
Keep in mind almost all of the OPEC nations are Islamic, they were squeduled to trade their oil in Euro just like Iraq had already done. This would devalue the $us to an almost depressive state. Wasn’t it handy for the American Gov that Islamic fundamentalists raked havic on them and threatened the western world. So to defend us they invade Afganistan and Iraq. Take control of the Iraqi currency, once they have that it doesn’t matter how the rest of the country is divided up. Now the US have set themselves nice in the heart of Isalmic land, they can go about blackmailing the rest of OPEC. As far as humanity goes its a dissaster, as far as buisiness goes its bloody brilliant. As far as our methods for predicting economic patterns, as long as there is a monopoly of social structure and a monopoly of currency by THEM, that measurment becomes impossible.
aluminatiJust wait now for your financial inst. to send you your motgage contract to sign, suggest you do this at the solicitors to make sure everthing is hunky dory, they will also send a transfer of land form to sign. You can inspect the propetry at anytime 7 days before settlement up to settlement. Isuggest you do this to make sure all the fittings and the like are still there. Make sure the property is insured in your name for full valuation. If in victria vendor will probably send you a section 27 to sign. Thats up to you to do that. The S27 is just so your deposit can be discharged to them if you have paid one. Then just sit back and wait try not to think about it too much.
Get your agent to advertise now fo tennents to say the prop will be available beg of june.
Good luck
aluminatiLook at the major employers of the area, is the local coucil efficient and respected. Ask the agents about property turnover and vacancy rates. If the locals are staying and the vacancy rates are low just make sure the potetial IP is not infested with termites and all should be ok
aluminati.Use your money for an investment or someone elses.
Ummmmh?
rather use someone elses.If you buy inner city or southbank now and you can bare a bumpy ride for 7-10 years then i think all will be o.k.
Most international major cities have an inner city poulation (within 5km) of about 10-15% of the population.
Melb and syd are only 5-6% at this stage. We sit about 10 years behind in international trends so i think in the long term it will pan out fine.
aluminatiDont wait.
Do it now, even if prices stagnate or slow off in the long term only history is your teacher.
Geelong, it is going to do great things thats my prediction.
aluminatiWhat state are you in.
Most states ( you can check the acts on the gov sites) require the ” Agent to take all writen offers to the Principle”. the is a basic requirment of law.The principle being the Vendor. if the agent does not do it ring up consumer affairs and dob them in.
It is illegal for the agent to make the assumption that the vendor does not want that price. If a house is for sale by private treaty this is for sale by negotiation.
you can call your local consumer affairs or get a list of the “real estate agents act and the sale of land act” via the govt website. If you are an investor you should know these acts back to front.
aluminatiNo its fine the way it is.
Sometimes in the heat of the moment people write things they regret.
At the moment everything is running smoothly.
Plus my wife will kill me sitting up till the wee hours.
aluminatiValued less than council. its no wonder he’s looking for a new job.
Contact the bank and ask what valution companies they use. After you have the list pick a company and have the house re valued. Do some ground work yourselves first so you can inform the valuer by phone or in fact meet with him/her at the property.
This will cost about $200-#350 depending on the company.
If it works (and it should) you will save on your outlay, if not well the $350 is always a deduction.
Its happened to us a few times when one IP is valued lower than expected, sometimes a bit of communication with the valuer helps heaps.
good luck,
aluminatiThe decision is yours.
But it’s not as easy as just taking the 80gs.
If you do decide to sell and you sign an authority to act with the agent, you have three days to cool off on any contract, so tell the joker he has 3 days to come to you with a contract note.
aluminatijparrie,
I understand your frustration at the new Duty (not tax).
Part of being a clever and successful investor is to find the good in all situations. Its no good complaining.
Yes I am a red.
The rise in property investing over the last couple of years no doubt had a positive effect on the housing prices. So has a lot of other issues. The fact of the matter is it is nearly impossible to start out if you are young or looking for your first home at the moment. To save for a deposit and legals for the average price home on the average wage is to be quite blunt now impossible.
So take from a sector that is doing well, and remove stamp duties for first HB. i dont see the problem.
I dont think it will have any effect on the market whatsoever, its just being moved from one segment of the market to another. The demand to buy and sell will be the same.
As far as latham goes. I really dont care because the real people who run things in this world are not our politians. So learn the system so you can defeat it.
aluminatiTomori,
Speak to at least 2 agents if not more.
Make sure they do not flog you for seperate advertising costs. Even if they do not sell they will bill you for that. Get them to roll all their costs into one fixed fee or percentage and make this INCLUSIVE of gst.
Remember you are hiring them.
Dont neccesarily go with the cheapest. Sometimes the agetnts you hate dealing with when you are an investor are the ones that work best for you when your selling.
Use this time also as a time to build a relationship with a local agent that can come in handy for the future with information and letting deals.
aluminatiIt might pay to get copies of local papers. For the price you are looking at will be in the outer areas.
Try also looking in the trading post, there is plenty there on a FT basis.
You might want to aslo place your own add in the local paper or TP.
aluminatiStick to what you planned initially.
You had a plan in place and it was a good one dont let the ral estate agents poison your mind.
I would be very supprised if you could not get the same or more for that property after you finish what you wanted to do. You will also be better off for the experience.
aluminati
