The building inspection is for the benefit of the purchaser, not the vendor. The purchaser can put forward whatever conditions they like, it is up to the seller whether or not they are acceptable. If you are conditioning your offer subject to a satisfactory report you may need to advise what an unsatisfactory finding is (or what a satisfactory…[Read more]

The time for completion has expired, your conveyancer must write to the purchaser's lawyers for notice to complete. Seek further advice as to the situation should they default upon this time but repudiation may be in order.

these are asking rents for short-term rental not rent under a lease agreement, I can’t even be sure that these aren’t the asking rent for various units with differing fitout. If the apartment management is seeking to fill a vacancy at short notice then the rent may be discounted, same as ‘last minute’ etc.

Rents can fall if cpi is negative over…[Read more]

How long is a piece of string Michael?

There is no single answer to this one. Depending upon the property type you may have a ratchet clause but if it is retail (except Qld) it must be nominated as only % or cpi.

Shape, you are dreaming that you could get a tenant to agree to 5%+ pa increases (unless it was a cpi clause) – how many businesses…[Read more]

Well, according to Monique Wakelin (Eureka Report) & plenty of other commentators, it is well overdue to dump the totally ineffective and expensive FHBG. It artificially boosts savings of FHBIt pushes up the price of houses by increasing the bottom end of the marketIt also increases the amount which may be borrowedSo it doesn't benefit the FHB at…[Read more]

blairmason17 wrote:
This is the same in Victoria

I’ll beg to differ here, in Victoria rates can be & are charged on each part of a block/tenancy even if no subdivision exists. Hence you might get 2 or more notices for the one block.

I’m more than capable of getting the works complete but you’ll be the first to complain to Suncorp if the works done by your partner was not satisfactory – what comeback would you or the insurance coy. have?

The insurer is covering its risk.

Unfortunately the land is common property hence cannot be used as security for the loan ie the land cannot be sold separately from the rest of the building – so the owners will need to finance the deal from their own resources.

I’ll disagree, the only way is up & that’ll help pull the AUD down creating upward pressure on inflation as the cost of imports rockets upwards.

The rates notice valuation (in NSW) bears very little relevance to the price that you might purchase the property. It is used solely to determine how much you will pay for council rates & services.It does not take into consideration the house or other improvements on the land which may exist.

only a couple of hurdles: you may need 75% or more of owners corporation to agree & pass a special resolution; all owners will be your development partners; the strata cannot borrow, so all owners will need to contribute to the project; a new strata plan will need to be prepared; the entire building may need to be brought up to BCA compliance;…[Read more]

you may also look at getting a depreciation schedule prepared by a quantity surveyor. This gives rise to you claiming depreciables at tax time.

I wouldn’t write off things like commercial/industrial esp if you buy something with a few years left on a lease & possibly an option.

Sydney ‘s a big place, any clues as to which areas near you might suit?

VF is one option – at least it doesn’t use all the checks & balances that the banks undertake. If using conventional finance you’d quickly exceed serviceability limits.

willister wrote:
It's up to the 7th month mark and I have analysed everything that has "gone wrong" with the property and put it in the best position to be rent out, fixed everything that could be fixed, revised the marketing plan as advised by other members here and also pressed my agent to "work smarter" on renting out the property.Still…[Read more]

I wouldn't know how to survive if I were to be a millionaire. What do I get rid of?

Even if they've bought a dump, there is always someone with a budget or a requirement for which it will suit – is it price? lack of marketing? lack of agent input? owner not listening to agent's feedback? etc

Areas are zoned for units – check with council to see if more units are planned.

Money for jam.

Engage a commercial agent who knows the market around pinkemba etc not some ‘fleecing’ agent.