Hi there
it is not all that clear if this is an existing development or proposed development
it if is an existing development – shouldn’t there be surveys with the development application?
If you can identify a particular development application – perhaps you can then search those records

I note that I am just recalling what we had to lodge with…[Read more]

Hi Linda
we are in QLD and most of our purchases have been in QLD
we have only ever paid $500 for a deposit and if pressed for more have offered a deposit bond
– there is another thread dealing with that in relation to a VIC property on this forum
The money only ever sits in a trust account and earns no interest – I would prefer that it was in my…[Read more]

HI there
you might just want to confirm the following with your solicitor – but what you are describing are outstanding rates which are normally adjusted at settlement. The Vendor is usually responsible for rates up to the settlement date and and the Purchaser after the settlement date.
The auction contract will normally say something like…[Read more]

HI again R P Brown
so far we have been happy with Jason Elliot and his team – we had also moved on from another firm in town who charged twice the amount these guys did. I must admit we got him to quote before we gave him our work – and he kept to the quote. We also know the strata title manager quite well – so perhaps the networking helped.

As…[Read more]

Hi there

if you are purchasing property in QLD you might be interested in the new smart maps available

http://www.nrw.qld.gov.au/factsheets/pdf/land/l99.pdf

which incorporates a lot of the information in other reports into a shorter form at a reasonable price.

Hi again Terry and RP Brown

you may like to follow the link below

http://www.taxpayer.com.au/

to review the information that is available from Superannuation Australia Pty Ltd. Members gain access to a DIY Fund Manual and can also speak to professionals who are involved in the superannuation industry. (You can access helpline calls)

I note…[Read more]

Hi again RP Brown

I responded to one of your other queries regarding an accountant in Toowoomba. Could I suggest you talk with Elliot & Co – they have a financial planner on staff as well as the accounting staff.

They prepare our annual financial statements and audit our self managed superannuation fund and also assist us with the family…[Read more]

Hi there
if you follow the link
http://www.reiv.com.au/reivsamples/118COS_RE.pdf
it will provide an example of the contract of sale applicable in Victoria
you can have a deposit go into an interest bearing account – and regulate how interest is dealt with – can be a bit of drag cause you have to have Tax file numbers etc to open the account
you can also…[Read more]

Hi there
we had the same situation with one of the properties we purchased. We just asked the Vendors agent if our property manager could have access to show prospective tenants through. As the agents knew one another – it was no problem – but the Vendor’s agent still had to be there during the inspection.
If in any doubt – make it a special…[Read more]

thanks Terry – good to see that a government department drops their costs occasionally – nevertheless realistically most people will spend more than the $400 for lodging the form 201 – because they will either buy a company off the shelf (with inherent costs added) or will buy a company after receiving advice from either an Accountant or Solicitor…[Read more]

HI again
you could probably use the same trustee company to start the new trust and if there is any problems down the track – you appoint a new trustee – which can be another company.
The problem with having a new trustee company each time is as Terry says the costs involved. As a bare minimum you will have to pay around $800 to set up – because…[Read more]

HI there
LOC stands for line of credit which a lot of investors use. They draw down the required amount to pay stamp duty or other costs of purchase

Hi there
can I say it depends upon who you speak to
I note my accountant suggested it was only necessary to have one trust for the properties purchased, another property investor recommended I have a separate trust for each state that I invest in, though I could have the same trustee company.
I suppose it is an issue of risk management – how much…[Read more]

HI there N Brown
by the way we are in Toowoomba and use Elliott & Co who are the largest strata title managers in town as well as an accounting office

If you wanted to share experiences in property – please email – and we could discuss our experience with mortgage brokers etc

HI there – as every state is different – has different property laws – there is no proforma commercial lease which can be used across Australia.
Each state normally has a real estate institute which draws up a commercial lease for use by real estate agents.
Perhaps you can search your local real estate institute and see if they have a proforma…[Read more]

Could I just say that studios can also have a place in your investment portfolio.
We have a range of properties from 4 bed homes to 2 bed units and our most recent purchase was a studio in Springhill in Brisbane. The rationale was to obtain cashflow and have a property we could use whilst in Brisbane or for our daughter who – cross fingers – will…[Read more]

HI there
sounds like you need to speak to your solicitor or conveyancer about those terms and conditions
most properties have some form of easement on them for services such as water, electricity etc
as for the covenants – it looks like whoever subdivided the land was trying to ensure it remained a residential property
if you are planning to run a…[Read more]