Terryw replied to the topic Private Sale – outside of agent after introduction- Brisbane QLD in the forum Legal & Accounting 5 days, 12 hours ago
It will depend on the terms he has agreed to with the agent. Most of these agreements would state that where the agent introduces a buy the agent will be entitled to a commission even if the purchase/sale agreement is entered into after the lapsing of the agent’s appointment.
“We assist property developers in setting up the legal structures”
This is legal advice so you would need to be lawyers to do this.
Stamp duty could be eliminated completely if certain conditions are met – or dramatically reduced.
No investors wouldn’t become liable for the debts of the developer.
I have done rentvesting in the past, but generally don’t recommend it.
Although you will be saving cash at the moment over time rents rise whereas those paying off of home loan would find the monthly repayments generally remain the same over 30 years. Use of an offset account and paying extra can knock this 30 years down to 10. It might actually…[Read more]
They lender may alternatively want to control the payment of the funds. So you could be approved without access to the funds until the point when you find a property and have entered the contract of sale. The new property may not be used as security but they will want to make sure the funds are used for this.
Cash out over about $50k is a problem…[Read more]
Get some proper advice because you will not be able to claim depreciation on fixtures and fittings unless the property is new. As you will be living in it the property will not be new when you rent it out. Possibly $18k less deductions as a result.
Here is the link to that thread I mentioned
But you are conflating a ‘loan’ with a ‘mortgage’ when they are two separate things. A mortgage is a charge over a property to act as security for a loan. Since there are 2 owners there must be 2 mortgagors because banks will not let their loans be secured by part of a property.
So to get the loan into 1 name, and secured by the…[Read more]
First check that they are licensed to give tax advice or not. Only lawyers or tax agents can give tax advice. Financial planners cannot give tax advice unless they are either a lawyer with a practicing certificate of a registered tax agent – some are.
If they are not licensed then don’t consider them any further. If they are then investigate further.
No it can’t be said over every property. With some the plan is to invest long term and receive rents.
Legislation doesn’t have a minimum, but the time factor would be relevant to determine if it was the main residence.
There is no 6 month rule. One week could be sufficient in some cases.
Could the lesser performer become the greater performer in the years ahead?
Loans must be secured against property, unless they are personal loans?
Which would release more funds after repayment of the loan and CGT?
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