Hi Mat,  I really hate being wrong so I checked and found out that I was correct for all Queenslanders. Here is a Linkhttp://www.osr.qld.gov.au/forms_publications/duties/info_sheets/concessions_homes06.pdfIn the sunny state you must move in at any time in the twelve months following the signing of a contract in order to be eligable for the First…[Read more]

Hi Pos,   Why not become a Real Estate Agent?   If you are a reasonable people person you can make a very good living and you don't have to buy the stock that you sell.   You will also be able to study the investment market and have a good idea on values so you will be a step ahead of most when recognising a good deal when you see one.Mind you,…[Read more]

With due respect to all forum members, I believe that any serious Buyer who has been looking for a period of time and in a particular price range will very quickly be able to place a fairly accurate value on a property that they may be seriously interested in.The fact of the matter is that when we see a price range of  $320,000 to $350,000, the Buy…[Read more]

Investhut,  as the garage has been converted to a living area it is most likely that the GFA (Gross Floor Area) of the site will have been exceeded and as such will automatically place the alteration into the gray area of illegal modification.   I would also suggest that Council approval for the alteration was most likely not obtained.   This…[Read more]

Lukis P,I often use the sunset clauses ie this offer stands for 24 hours. and subject to finance, building pests and inspectionsWhile I appreciate that you need to protect yourself, you should understand that the more clauses that you put on an offer the least likely that the offer will be taken seriously.   The clauses that you state above s…[Read more]

Mingling,   Many people talk about the Council Valuation on the Rate certificate and from my experience it has absolutely nothing to do with the property sale value, it is simply an amount that Council comes up with in order to proportion a rateable value on.Jon

While legally the Agent is entitled to half of the .25% and this is covered by clause 12 in the Form22a (Appointment to act), it has been my experience that most agents will waive this fee and just get on with the job of finding another buyer.   In all my sales since this part of the legislation was introduced, I have never had anyone opt out u…[Read more]

KA010,   The cooling of period does not begin until either you or your solicitor receives a copy of the contract.   As you state that you have not seen one, then you only have an offer and you can rescind your offer by email or fax to the agent advising such.On the issue of Tenancy on Purchase, it is my understanding that in Qld an Owner occ…[Read more]

Too easy, Advise the brother to go find another girl friend, this one is a sinker.On the other hand the Purchasing partner only has to pay Stamp Duty on half of the total value, or their contract price.Jon

Hi Crashy,On this we agree, there are way too many agents but this is Free Enterprise and part of the reason that we love Australia.I can't remember the actual statistics but in Qld there are something like 6000 agents with an annual turnover of around half and an average wage of $30,000.   No wonder we are generally disliked by the Public.   I p…[Read more]

An interesting comment which on the face of things would seem to make sense.   If only business were that simple, let me pose a few statistics which may change the simplistic view.Commission:In Queensland the rate set for commission is 5% of the first $18,000 plus 2.5% of the remainder of sale price plus 10% GST.Let's ignore the GST as we know w…[Read more]

Oh dear Martin, how many buyers do you think we have for each property which we can only sell once.   Don't try to read words into my statements.   The Department of Fair Trading would take a dim view if I were to adopt your sentiments.  I am under contract to work for the Seller.  Get used to itJon

Jan Somers is PIA and I find it very useful now that I know how to drive the latest version.Jon

Hi Redleaves,I think that you missunderstand my stance on behalf ot the Vendor (who, after all, pays my commission).You may well be prepared, unfortunately don't mould everyone in your vein as my experience tells me different.   There may well be unforseen problems, a good agent will obtain an extension of time for those hassles to be sorted o…[Read more]

Hi Wewaz,Yes wouldn't it be great if we just told you everything about the property, then you would not have to look at it just send the cheque in the mail.   Sorry for the sarcasm, I just can't help myself.While I agree that size of property should be included in ads or Brochures and to some degree it is (at least in Qld.), However we would r…[Read more]

Hi Tysonboss1,I believe that the market in Brisbane will stay firm for some time yet.   The reasons are as follows:-     1.   Very low new or second hand stock availability.     2.   Very high demand and high attendance at OFI's     3.   Virtually no future development in the pipeline, and that that has started is being sold off the plan very q…[Read more]

Richard we don't have to agree on everything, we mearly have to see each others point of view.I believe that I live in the same real world as you do but see the situation through my Vendors eyes.   They do not want to wait (and disrupt their marketing campaign) for 21 days for any bank to get around to giving a prospective Purchaser an answer as t…[Read more]

My advice is to get the unit valued at todays value.   The moving out party will need this value for Capital gains  calculations in the future as the property now becomes a rental investment.   Find out the going rate of rent for a similar unit in the area and the Staying party must pay half of that amount to the leaving party plus half Body Corp…[Read more]

Hi all,Richard states,Normal settlements are moving out to 42 days.32 contracts waiting settlement, all 30 day and most unconditional.   Find another Broker or Bank that wants your business, if you start to give them 21 days they will take 21 days next step will be 30 days or better still Pre approved applicants will have first bite of the c…[Read more]

Hi Tysonboss1,Exactly where are you?   I beleive that City Councils around Aust may have different codes.   Can't say that I have heard of Res 2A.   In Brisbane ours used to be Res A and Res B3, B4, B5 and so on (B3 being townhouses and B4 being Units to 3 stories) all of this was changed in the late 90's and they are now classified as LMR (low…[Read more]