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ive been told that one of the major reasons banks dont allow the release of the valuation is that if clients were to rely on it and decide to sell their homes but recieve a cheaper price;
technically clients can sue the bank for the discrepancy.ive heard this has happened in the past.
hence, banks do not disclose this information to prevent it being replied upon.
plus the valuations that are done are “strictly” for mortgage purposes only which may lead to differences in valuations amounts as opposed to private/normal ones. im sure it wont vary much tho.
hmm time for bed. gotta rest up for the weekend
thanks all.
can someone enlighten me as to what this game is?
im from syd and wouldnt mind checking it out. even just to watch.
is it some sort of board game?
dont laugh
Wow teacherk6,
Im just gobsmacked at how quickly and young you acquired your properties!
Well done!
Im 23 and quietly saving for a deposit and researching on locations. Hopefully, once i start i can acquire them at your rate.
Just on TeacherK6’s comment on the lump sum repayments. I might be mistaken, but i think you can only make twice the normal repayments; and it has to be regular.
Any higher on the repayments and you’ll end up paying on the principle, which defeats the purpose, and banks dont like it.
Cheers.
p.s cheers by the way TeacherK6 on your other comments, very interesting
Crikey, thats alarming! and interesting at the same time.
The ATO really depress me, each fortnight when i look at my payslip they always tax me! They are consistent buggers as well!
I wish they would forget just once.
*sigh*
two things id like to query; actually maybe three
(following from what is discussed above)1. what is PPOR? i see it used often here. im assuming its an owner occ? what does it stand for?
2. is it right to assume most people are pro-positive gearing (attributable to steve’s book? i am keen to get a copy in very near future; because i dont mind the concept of negative gearing, when depreciation comes into play coupled equity growth; is it not a win-win situation anyways?
do positively geared props benefits outway negatively geared ones?
if i was to buy an IP (im yet to make the leap)i would account for it to be negatively geared. is it wise to be conservative like this?
3. IO VS P & I, to me P & I is the way to go. My perception is that IO are for investors who plan to sell their investment props in 3 to 5 yrs (ive been told a major rule to prop investing is to never sell; until your living in your very own yacht anyways).
– does not paying off P & I maximise one’s equity 3 to 5 yrs down the track? equity one can draw upon.
I know thats its been mentioned, that it is ones preferences really. But general perception that i have is IO is bad; for long term goals anyways.
Just some of my thoughts. Please discuss.
p.s mortg hunter – thank you for your feedback to my prev post.
Hi Berazafi,
A friend i know was telling me something about something similar. a while ago now.
Be weary of these developments as alot of lenders would probably not touch it especially for investment purposes; make sure you can get finance first.
Valuations on properties in these areas could possibly take a minimum of one week (probably wont cause too much trouble if finance is not required in haste).
wow, two very good points..
i suspect much more pondering is in store for me.
thank you both.. any others?
