It all depends on what is written into the contract. If an agreed condition of sale is early access then it must be granted, otherwise the sale can be renegotiated, no different to a poor pest inspection. If not a condition of sale then you really have no cause for complaint. We all live and learn.Mick

Quite true,If the proerty has been advertised at say $350K but the true selling price was $320 the you will most likely find either the original list price is displayed or a range is shown. Basically, it would be bad press to say you were not able to achieve the price you estimated it was worth. Not all agents behave like this, but enough do to…[Read more]

If rented at $600 per week, why are you selling?

I have recently purchased 100 acres on the outskirts of a large regional center. It is zoned for rural subdivision (down to 2.5 acres). Due to the glut of land releases in this area at the moment the plan is to sit on it presently. It has a commercial lease in place and farming the balance will make it +ve cashflow, so it is a good one to hold.mick

Try not to let the emotion that you seem to have attached to this particular house influence your purchase. As Richard suggests, your proposal is a very messy way to purchase a property. Have you explored the option of you purchasing with your Mum as guarentor. Mind you, that comes with its own new set of potential problems. Thinking outside the…[Read more]

I have one I will sell. It is in storage having just moved but Pm if you are interested and I will see how quick I can get it for you.Mick

Do they have the money even if you persue them. It may cost more than it is worth. I am guessing the contract is in QLD where the agents handle the exchange rather than a solicitor. Also have been biten here, though I was the buyer, and now always insist on there being a solicitor, at least on my side before anything is signed.Mick

Is this a place that you wanted to move into yourself? If so, are you able to sell your current place, lease it or elsewhere whilst the building is being built and move to the new one then.Other options:1. rent a room in your current PPOR to increase income2. Look for private funding3. JV partner if profiableJust a few thoughtsMick

And yes, I second Scotts comment thatthe vacent land would be subject to CGT, possibly also GST so work your numbers out with this in mind.

Again, not advice from an accountant but my understanding.For it to be your PPOR you have to satisfy the ATO that it really is. So you have utilities in your name WITH a realistic bill. Car, licence, vote, incsurance etc registered at that address. And you should be fine. With regards to selling in a short time frame after a reno, on a once off…[Read more]

As the fittings and fixtures have certainly been updated (not 60, 80 or 120 years old) I can easily see why there would be a need to get a depreciation schedule! If it is carried out by an appropriately certified individual, why would the ATO have a problem? It is done at their request.

A similar situation occured with us. The delay in getting an inspection caused adelay in finance and whilst we requested the 2 week finance clause be extended to 4 (thus moving the settlement by 2 weeks also as it was originally stated as 4 weeks from finance approval), when it got to the original settlement date, which we were obviously not able…[Read more]

Hi JL,Sorry, I didnt see your post. Where? Moura. Also doing well in Biloela.Major mine putting on over 200 people in the next few months, new mine progressing well.  I think I will sit on my others for a while.Mick

When the market was moving, I know my lender made it a once per 12 month policy to revalue property.

I would highly reccomend Noel McFarlane at Cardiff. He is a Jenman agent as well. I used him to sell my first sale (an IP in Elermore Vale). I didnt realise until I sold a few others in different areas just how good an agent he was.Mick

Hi Mini,The 6 year rule.You can own a PPOR and move out and rent it for up to 6 years, sell and not have to pay CGT, PROVIDED you have not purchased another PPOR during that time. (Came about as politicians moved to Canberra for 2 x 3 year terms and didnt want to pay tax if they sold there house). You can claim appropriate deductions during the…[Read more]

gotta love all these first time poster, offering to show what they have "found". So much for no advertising.

Hmmmm……..Getting a bit narky here guys.

Additional to Ros's advice,If you move in and it becomes your PPOR then the amount that you would call "taxable" is prorated of the entire time there. As it is averaged it may pay to have a valuation done prior to changing its designation.For example:Bought $200Krented for 6 months still valued at $200K when changed to PPORSold at 13 months, value…[Read more]

If you are not living together and you purchase the land off her then maybe – but is the extra cost worth it?Oh….Did she live in the first place or was it an investment?