Why don't you tell the sellers the bank has valued the place at 180,000 and see if they will drop the price as the bank will not finance it for 200,000. Otherwise you are backwards from the start.
Barney,I was advised the start date for CGT is the date of the signed offer and acceptance.So if you have an accepted offer on a pre release block of land and it doesn't settle for twelve months, the 50% CGT discount applies if you sell it strait away after settlement.As far as building is concerned, I don't think it matters. It goes on the date…[Read more]
Barney,What an incredibly selfish Idea.Having all that money and not willing to pay any tax what so ever..I suggest that if you go down that path, the end of your life will be miserable.Imagine being on your deathbed and looking back on all you contributed to society or others and seeing nothing but the burden left behind.I am not a socialist, but…[Read more]
Relax a little,you still have over a year before settlement,You could arrange to have townhouses pre-sold off the plan on the block.Hold on till close to the end and then find a buyer.Find a partner for the project. Is there a clause for early completion?Most of all relax you still have plenty of time to sort something out, but don't leave it t…[Read more]
Hi Shirls,My wife and I near Muchea ATM. Muchaea is a nice spot and not that far from Midland either.It has been in the news a while back that a satellite city id planned for Two Rocks.Good luck with your block.Regards,Mark.
So long as you have a fixed price contract with the builder, all the details will be locked down and any extras will be charged for accordingly.The best way to do the deal is with a cost plus type of arrangement. this way if they make changes, you simply put it to the builder, he charges you and you get an agreed mark-up on these costs for…[Read more]
G'day,New land releases often have a long settlement. Two years is not really too long but 50K deposit is a lot to ask!!!! 1/3rd deposit?? If you are going to borrow to buy this land and have the land as the collateral, I doubt if the bank will lend the money without the titles which will come 3 months prior to completion.In this type of…[Read more]
Take it off the market for a couple of weeks then relist it yourself in the paper.Often people pass over properties that have been advertised for too long.It also becomes a hard sale for the REA so they tend not to try too hard after that. It is after all still advertising their business so long as it has a sign out the front.
Scottybe,Sorry if I offended you. I wasn't trying to imply you would even consider ripping off the taxman. This just looked like a really good place to post this as lots of people who would consider it would be reading just due to the nature of the subject.All the best.Mark
Mobbott,Just a couple of things 1) Woodside 20 Billion dollar expansion green light2) Massive Olympic Dam upgrade.House price growth has slowed recently but still increasing. Land is very scarce ATM but there are some new developments being proposed by the govt to try and address this.I would suggest that if you can afford to do it, get in now and…[Read more]
jfiori,How many major renovations have yuo done?I seriously hope it's more than the one you are claiming before saying you are qualified to make such bold assertions.No I am not a tradie, but I do know quite a number of excellent tradies.One of them doesn't even bother to quote if when he is played off against other tradesmen.Just remember 1 hour…[Read more]
Just remember, when you are cheating the taxman, it is not just the tax man you are cheating….It's those dirty stinking bludgers on the dole who don't want to work,The poor innocent parras and quads, The grannies and grandpa's who have spent their life working for the betterment of Australia…And our absolutely ridiculous politicians who go on…[Read more]
Hi Shirls,Yes this is a large deposit. My wife and I did a similar thing towards the end of 2005. The deposit was smaller 5000 but the block didn't settle until may this year.The value of the block went through the roof in the mean time. so we made all of the capital gain without paying anything except the 5000 initial deposit.10,000 is still much…[Read more]
You must kill the mould first! before you re apply the silicone.You do this with oil of cloves!Then the arrea must be totally dry before you apply the silicone (though I am surre you new this anyway). Best not to use the shower for a couple of days before you re silicone the gaps or dry with a hair dryer a couple of times for a day.Hope this works…[Read more]
This means you are buying two blocks of land.If the house (I presume there is a house) is on one of the titles and the other block is clear, this is a benefit as there are no subdivision costs. Also a benefit if the existing house is to be demolished. If there is no house or any of the other cases mentioned, a benefit exists if the price is lower…[Read more]
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