Forum Replies Created
lol couldnt of been much of a chippie!!!! i dont want the cuts to be 45 degrees in the corners, the correct way to do it is butt join no idea how they cut the bevelled edge though??? it also has to be correctly glued and clamped to seal the join up properly.
wondering if its 14 days from the original settlement date???
Thats terrible Trakka at least ours is an IP, it did stuff me around as i just got back from Brisbane and was supposed to continue my holidays back in melbourne to get the reno started, but instead i've had to go back to work until it settles god knows when that'll be and then inform my employer oh by the way i'm having the next week off.
Pretty sure property managers Trance
Thanks to both Elka and Marg for your replies good point Marg on the 30 days notice.
Vendor posponed settlement from tuesday until friday becuase the transfer documents have not been stamped by their bank. Now they have posponed it again but they havent given my conveyencer a date, i have informed my conveyencer to issue them with a notice of recision which gives them 14 days from friday to settle the property or the contract becomes null and void. I find it amazing that the purchaser gets slogged daily interest for delaying but the vendors get off scott free..
Wow 10K for a bathroom seems a lot to me, cant say i have done a bathroom yet but being a Elelctrician i have a few tradie mates who will help out.
I plan on ripping out the existing shower replacing it with a $200 claw foot bath re tile above bath, re tile above vanity and the boards will be polished.Which auction houses do you go to Kiz.?
Blaze if the property was built before 1987 then you will not be able to claim the building depreceation, QS can i think depreciate things like existing Air Conditioners, Hot Water systems, (Fixtures and Fittings) but if its under a certain combined value then its not worth getting a QS out. Please correct me if i'm wrong guys
no one with advice out there, common guys i'm sure you all have a learning experience in dealing with a prop manager to share with everyone that just might save us all some heartache..
Will speak to my accountant thanks Terry.
Yeah Trakka same property basically my conveyencer sent them a letter saying reduce the price or we will rescind from the contract due to the added date and building inspection they didnt reduce the price so i got all my documents in to order ready for settlement and informed them on the 31/1/08 that we would be going ahead with the purchase which was due to settle tomorrow they have now delayed settlement until friday which has put a spanner in the works for me but what do you do??
As for the property in the long term it will be a good buy we probably could of bought better for the money but in saying that its is hard comparing previous sales with your own purchase when you dont have land size info and havent actually been in the other property's. I also have job oportunities in Brisbane which i'm seriously considering, would of been nice to go up there with no ties down here in Melb but you cant have your cake and eat it.
I spoke with a lawyer today athough we have only payed the vendors $500 we should have forwarded the remaining of the 10% within 2 weeks of signing so by rights if we do not complete the sale the vendors could try to sue us for 10% of the purchase price as we affectively should have payed 10%. Told the lawyer about the adding of the date she said she would have to have a look at the contracts @ $300 per hour you would almost want a guarentee i didnt realise how expensive lawyers where. So thats were i'm at i should probably just stop whinging and buy the property.Spoke to my conveyencer basically she said if i dont want to buy the property then i will lose the $500 deposit and the vendors could sue me for loses, which she said would be unlikely given the small deposit. I asked her if she could put me onto a solicitor but she said she deals with the solicitor and they just do paperwork so she has given me the number for the law institute of victoria if anyone is a solicitor or knows of someone they could recommend it would be of great help.
Hi Trakka we have only put down $500 to date so no big loss in the contract it says "subject to removal of all caveats prior to or on settlement date" this was co-signed by the vendors and myself.
DepeHey gus
depends on the size of mortgage you will have for the ppor as to weather you are better off renting or buying. Paying $300 plus rent isnt stupid as it may cost you that or more in interest to have a PPOR then you have the principal which you feel you have to pay becuase you need to reduce the debt as its not tax deductible.
Contiuning to rent may be the better option but it all depends on
– How much you will get back in total from your rental including tax deductions, depreciation etc less mortgage expenses
-Versus how much its going to cost you to pay off your own home principal interest
Most of the time it works out better to rent and rent out your property, for me its a matter of how much better off will i be for say an extra $8000 to $10,000 i think its worth it but remember if you live in your PPOR you can do any work you want to it which also increases the value and there is no cap gains upon sale.My conveyencer is contacting the vandors conveyencer with an offer of a price reduction on the property due to certain defects or we do not go ahead with the purchase becuase of the alterartion without authorization.
I can see where you are coming from Trakka, i guess i'm a little jaded about the whole deal as from the start the agents where trying to take advantage of me becuase my partner and i are both younginsh with not a whole lot of experience in RE, i also dont agree with their silent auction type bidding, but then again i made the decision to make an offer on the property.
As a side not the vendors where told about some of the larger issues with the property and given the chance to rectify or reduce the price (this was done verbally nothing was written down) they chose to recitfy the problems. Trouble is they didnt want to pay anyone to do it properly they wanted to fix it themselves on the cheap i actually had a look at one of the jobs they did and i managed to speak to a contracter they employed who said they were tight ar#$s and just wanted a quick fix done on the cheap, this dosent sit well with me especially when i'm paying them good money for the property.
Anyway told the dodgy in the RE pocket conveyencer to take a hike and have enlisted the services of my regular Conveyencer at least now i have fair representation.Hi all basically you guys are completeyly missing the point the reason why i am negotiating the price down is becuase of the building inspection there are several issues with the property which i have recently recieved quotes for all of which arent huge issues but when you add them up comes to quite a bit more than i actually can afford on the property.
As far as i am concerned the vendors are luckuy i'm even giving them the option of reducing the sale price to continue through with the purchase. I will also add the RE has acted unlawfully and hasnt been easy to deal with from the start just because i'm young dosent mean i'm dumb!!!Trakka you say its unethical to enter into a contract and have no end time for the building and pest it is not my problem if the agent writing up the contract failed to communicate with me and insert a date suitable to me at the time of signing is it???, i didnt find out about the date until after it expired which if i didnt know any different could of been enforced on me with no right of reply which a lot of average people would probably except. I dont have a problem with dating conditions i do when i'm not aware of it though.
And as for gloating ??? i was merely stating a fact which was mentioned once not exactly gloating….Victoria
Spoke with my conveyencer today and i really doubt that he is working for me and not the agent, as he recieves a lot of work from the agent i feel there is a massive conflict of interest. After pointing out the mistake in the contract i told him i would go and have a talk with the agent about it in the mean time he has contacted the agent to tell him this giving the agent time to organise and prepare for me upon my visit.
Spoke with the conveyencer who i usually deal with and she has said without a doubt i have a case to terminate the contract and ther fact that i have only put down $500 would mean a very reluctant vendor in terms of sueing.
Interesting to note that the other conveyencer is trying to steer me away from even using the changed date on the contract as a reason saying it is debatable?? I would suggest his motives are extremely questionable. Does anyone know a good real estate solicitor.
For the mean time i have the dodgy solicitor drawing up a letter stating we will be pulling out of the contract due to the building and pest inspection and the unauthorised amendment unless the selling price is reduced to an amount specified he will send this to the vendors conveyencer. Having said that i had to ask him to add the unauthorised amendment as he wasnt going to put it in ?????? some i am going to ring him in the morning and tell him his services are no longer needed and apoint my regular conveyencer. This might also scare the agent as he will be dealing with the unknown, what a mess!!!! anyone got any advice i'll take anything i can get at the mmt.Regards,
James
Hi Jon it was done after i signed it possibly when the vendor signed it so if both contracts are not the same they are not legally binding meaning i can walk away without loosing anything. Note the contract was signed on the 28/12/07 so we didnt want a cut off date for the inspection as we didnt know how quickly we could get it done due to holidays etc.
