Will they be passing a bylaw (properly documented) granting exclusive use or will they be getting exclusive use & leasing? Will it be registered on title? What is the term of the lease? Some states will require a subdivision if it exceeds 10 years etc.

One of my collegues was charged with purchasing several houses in the area last year for one of their client organisation. There are definitely good an bad areas in Moree. Few words with the local constabulary wouldn't go astray to confirm the better areas.

I trialled POSH & previously ran Property Manager Pro (also from Manacom). Posh has issues running with more than one owner. I preferred PMP. Alternatively, download a trial version of Rentmaster – you can get the basic package quite cheaply. Handles most common situations. I use it for a mix of property types without an issue.

Two other thoughts – either you can employ a competent person with a builders licence to be your nominated supervisor for your building company or you could just get a builder to do the work (which may make financing easier as it won't be owner-builder).

RUK, it comes down to a couple of factors, what the instructions to the valuer are, the current zoining, any proposed zoning (if the LEP is still in a draft form) and as pointed out above whether the valuer should be valuing using a development model. If using a development model, they should be going further afield ie not in your suburb/town to…[Read more]

How about putting it on the ground and filling it?

Speak to a valuer

I use Austbrokers normally but have utilised Gowgates & Oamps. All have access to every insurer as well as some of the wholesale insurers.

Orica, the agent is obliged to advise the client of any bid unless they have been given specific direction with regards to bids below $X. Put the offer in writing, put an expiry date/time and any conditions you are making the offer conditional upon. This will show you are more than on a fishing trip.

What you are describing is the 'access handle' ie the driveway & associated drainage required for the rear block. You will need to have this in place before council will consent to any subdivision (it will be part of the requirements for the DA to subdivide the block). You may also be required to contribute towards a services levy or development…[Read more]

The banks work with their panel of valuers, what you bought for 18 months ago is possibly more than what is worth today. The bank will not take into account what you believe it may be worth but will rely on the valuer who has access to all recent sales in the area.

1 – Yes, get the solcitor to have a look at it2 – Yes the cooling off period does not apply until 3 business days after the auction – in which time the agent will still  be trying to secure a deal with any of the bidders at the auction or people who inspected & took a contract. So if you wait until the cooling off period comes into force again,…[Read more]

The direct approach is probably best ie you have a contract in hand (with the owner's details) – drop them a note in the mailbox (or call if yuo have those details).REA will not help you as they are not paid (or permitted) to arrange finance unless they are licensed to do so. If they did so, it would be a second deal they would have to broker in…[Read more]

SS, can I assume that this is Victoria and the contract isn't prepared until a bid has been accepted? If your solicitor is saying that he talks to alot of people then I would also question his authenticity if he can't confirm if he has spoken to the vendor's agent/solicitor.

Purchase of the house would have to be subject to the council approving a relocated house on the block. You will need to submit a DA for the house as well as a design for the footings.

If you go to another lender it will require the consent of the first lender to allow another mortgage to be registered on your title.

Was it the valuation which came back at $260k or was it the amount that the bank would lend on it. I'd push for a second opinion or a thorough val to be done not just a drive-by as well as providing recent comparables.

25-30% IRR depending upon project duration, complexity, size & other factors but that's just me.

Are you using one of your other properties as your PPOR?

Without an understanding of whether US law applies to Oz (considering that precedents have historically come from the Aust High Court) you wonder about the old saying about certain folk & their money.