Forum Replies Created
itsandrew
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Hi lindsay,
Is it these people? http://www.ustaxcentral.com
Andrew
itsandrew
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I haven't seen the exact wording but I will try and find out. Maybe she didn't word it correctly. My friend just told me that she made a conditional offer and that after receiving the pest report she was not happy to proceed.
Maybe it was bad wording or maybe the REA is working off the cooling off period and not the conditions. I'll have to find out more.
BTW, how long is the cooling off period in Victoria?
Andrew
itsandrew
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Victoria
itsandrew
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Thanks for your replies.
Scott, it was the holding deposit. The main thing is that it was subject to building and pest and the pest came in suspect. I thought that's why you put a building and pest clause, so if something comes up you can legitimately withdraw the offer without penalty.
Is it really ok to keep the holding deposit in those circumstances?
Andrew
itsandrew
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There is a recent thread
https://www.propertyinvesting.com/forums/property-investing/overseas-deals/4335057
Hope this helps
Andrew
itsandrew
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Hi Giacomo,
Have to say that I agree with reme. You need to speak to people who aren't trying to sell you something as a part of your DD. Its all part of the process. And like you acknowledge there's nothing wrong in paying fees for a service. Just don't be pressured by people who want you to take the plunge prematurely. The US market isn't going anywhere fast. You can afford to take your time.
Andrew
itsandrew
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Hi Dwolfe,
Not sure how well you know Bayswater or Wantirna but I would add the following.
Bayswater residents certainly don't feel like they are isolated from knox City as it has quick and easy access down Stud Road. From your description I am guessing that a walk to the Bayswater shops would be about 15 mins and parking convenience, unless using the local Safeway, isn't always the best.
The bus hub at Knox City is pretty extensive and well known by locals. Not so good for getting to the city though. Need to catch one to Bayswater or Boronia station – but I'm sure you know that.
Andrew
itsandrew
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There are holding costs. You also need to connect services. If you search the site there are threads showing other 'hidden' costs.
"How do i go about getting planning/building permission and what exactly is needed. Is it expensive?"
– You need to go through council. Your architect or town planner will be able to help you navigate this. Perhaps budget 15k for plans and permits but best to call them up for an estimate.Andrew
itsandrew
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propertyboy wrote:From a credit perspective, unless he gives me the 12montsh upfront I would not lease it to him.If you proceed it looks like it might be a requirement of the tenant and may not comply with vic regulations.
Andrew
itsandrew
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Thanks Terry,
I mainly see talk of discretionary and unit trusts with regards to property, how is a bare trust different? I presume there must be some drawbacks to forego stamp duty concessions.
Andrew
itsandrew
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Hi Munglord,
To have a look at these go to the county tax collectors website. Some states sell by auction and over the counter while others will do auction only. I know Florida does over the counter so you can see some listed on their county websites when the auctions aren't on.
Andrew
itsandrew
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Evolve wrote:If you are in VIC you can probably transfer the property into a trust with only nominal stamp duty (i.e. virtually no stamp duty – just legal fees) – but you need to plan for any capital gains on the transfer.
Hi,
Just wondering if someone can explain this more. I've heard of transferring to your spouse without stamp duty in Victoria but to a trust? Does it have to be a particular type of trust? Any further info would be welcomed.
Andrew
itsandrew
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Hi Eric,
Welcome to the forums. Great to see you have joined us on here.
Can you tell us a bit more about yourself. Where in the states are you from, what's your previous/current involvement in US property?
Andrew
itsandrew
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Hi Mitch,
I'd try posting this in the Legal & Accounting forum. It's easy to get lost in the help needed area.
Andrew
itsandrew
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Hi Robbie,
I think Scott means you need to tick the 'personal contact form' option in the 'contact settings'. This options is just under the PM settings and allows emails to be sent via the online form.
Regards,
Andrew
itsandrew
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I saw it too. But before you judge me too harshly I only watched TT because I saw the story advertised! You can find it here http://au.todaytonight.yahoo.com/
Aussie John absoutely canes Wayne Swann.
Andrew
itsandrew
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Interesting thoughts dwolfe. Aussie John lenders was saying much the same on TT ie. that the lenders creating the best competition for the banks have been ignored and that the changes will favour the big four.
hmmm, I think 20% could be considered more than a 'correction'. Anyway, with both ANZ and NAB already dumping exit fees any potential effect in the change of borowwing habits of consumers should be softened. I'm interested to see if CBA and westpac follow suit sooner rather than later. If they do it should be business as usual?
Andrew
itsandrew
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Hi Judith,
If the liens are not redeemed (within two years I think) do you intend to sit and wait for the returns or are you keen to take legal action and take over the title deed?
Andrew
itsandrew
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Hi Judith,
Do you have many liens outstanding after 6 months or do you find that your liens are paid quickly. I was ready to invest in liens but was worried about the liquidity aspect of the investment.
Regards,
Andrew
itsandrew
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