Now that is an absolute shocker Pascoe. The numbers are so rubbery that Durex would be proud of them!!!!1) Interest on the land =  say $800k x 27 mths/12mths x 7% = $126,000 assuming that the land component will not be more than 50% of the development cost.2) Interest on the construction = say $800k x 10 mths/12mths x 7% = $23k3) How solid are…[Read more]

Roughly speaking, the place next door would be late federation/edwardian. Due to the lack of ornamentation on this house it would be post WW1 but pre-WW2. Roof line is still quite steep & there is still  a gable (remaniscent of californian bungalow). Doorway does have some minor detail but it is likely that much of the detailing has been lost…[Read more]

Terryw wrote:
Technicallly yes that is the case, but you know banks. If it is the same person behind the scenes they treat it the same.

is that really the case Terry, how often would the bank do a company search on the Builder (unless it was Joe XYZ & his company was XYZ Building Co. P/L)?

Terry: Not if you are XYZ pty ltd as the builder and you as the client. If  you are building a display home, why don't you just get a business loan? (yes higher interest rate but you need the working capital as a business expense not investment exercise).

As above, drop a note to the secretary of the BC advising the problem – it is the BC which directs the SM to act on an issue. The BC will decide if it is the owner of the unit above who needs to rectify thier leak or it is a leak from the building eg roof leak/broken pipe etc.In the meantime, contact the office of fair trading to find out how you…[Read more]

I am sure that you posted this twice & I responded to the other one. Contact the Property Manager at Council & find out the process, they will advise whether they are looking to dispose of the land.

Terryw wrote:
If he is coming to see you, then he is probably a 'vanilla' person – a mobile manager

Do lenders come in other flavours (I know that I have seen plenty of 'green' ones in the past).

You could always consider using a LOC (from another asset) and the Offset account, hence avoiding LMI if you desire.

The conditions of contract will generally be the same as the residential contract other than the provisions for gst, land tax etc. It will be unlikely that if it is a vacant building you could get out of the gst (however you will be able to claim it back in your next BAS), likewise the vendor will be seeking to share the balance of land tax on the…[Read more]

Another case of smoke & mirrors – wasn't there already an exemption from stampduty for newly built housing costing less than $600k. Even more smoke when they have 'extended' this generosity to pensioners.Note also that there is a cap in place and that the article notes that the average price of a house/unit in NSW not the median price in Sydney or…[Read more]

Seek specialist tax advice in this case as the law is still under question. Refer to Sunchen P/L v FCT [2010] FCA21 where a developer was not able to claim the GST paid on a leased resi site with a DA in place as it was a leased residential premises and was an input taxed supply. The judge followed the previous Toyama case  which called for a…[Read more]

A caveat only prevents you dealing with the property without the caveator's knowledge. You will need to seek the caveator's consent to lift the caveat in order to register another dealing before they put the caveat back in place.Is the caveat with the bank or with a third party?

Which part of non-habitable don't people understand? It is just like buying 2 identical written-off cars from the auctions, cutting the chassis and welding them together, driveable but totally illegal.Building standards have been made for a particular reason, to say that the ceiling is only 2200mm instead of the required 2400mm  doesn't mean the…[Read more]

The method used to calculate land tax is totally different in each state. Refer to each state's OSR website to work out thresholds and method of calculation.

Try council records

If any work has been done on it since the initial construction (ie value added), that too can be depreciated. Get a QS.

AFAIK agents don't get kick backs for arranging quotes etc however they have to watch out that the works that they undertake does not require them to have a building licence eg if you get them to arrange repainting, carpet, kitchen replacement etc where it exceeds the limit set by the dept of fair trading.In the commercial field, where the agent…[Read more]

Objections, to bear any weight, must be properly drafted and address specific non-conformities with the planning instruments. Just because it looks gross does not mean the objection will see the light of day.

If you are keen, negotiate a lower price based on the probability that you will need to put your hand in your pocket to fund the repair work. If not, walk away. (Remember that it may still be worth persuing now as there has been a bit of a correction in builders prices since 2007).

Property Council of Australia – it will cost you for its annual report.