But you are contracting with both parties.

I will leave it with you..

But the vendor pays?

You might want to get some legal advice on that.

Then who is your client the vendor or the purchaser?

How do you make money in that case Danny?

Just see a broker. Choose a lender and then make the application.
Get some tax advice along the way to see if you can implement any strategies to debt recycle to speed things up.

First probably find out if you have a choice. See a broker and see if you have any borrowing capacity while you have the debt in place and then compare to as if you had no debt.

Then consider what you should do. I would probably advise to pay off the debt first, but I don’t know much about your situation,

Yes it would. If the contract doesn’t conform it may be unenforceable.

Victoria?

Have a read of the relevant section. Off the top of my head i think it could be a condition.

A business is not something that can buy a property. You seem to be referring to a company – which is possibly going to act as trustee.

This is something you need legal advice on, on the stamp duty act in the state in which the property is located. If NSW double duty could be avoided in many instances, but care is needed. A recent NSW case…[Read more]

I didn’t say you would not be subject to CGT on your place. You need to make a decision on whether to claim the main residence exemption on this property or the other.

No valuation needed for new property as any CGT will be worked out on apportionment.

Check out hte victorian land tax act.

1. No
2. Possibly. But spouses property will be subject to cgt.

Depends on the state the properties are in

I am a lawyer and have seen a few people lose everything they put in to projects of developers – biggest loss that I saw was $1mil.

But clients only come to see you when they lose, there are probably many more that succeed. Just be careful and get legal advice before doing anything.

It is generally, but not always, the date of the contract to purchase the land. It will depend on the circumstances.

If you invest $300k with a developer you will be very lucky to get it back!

The use of the funds determines deductibility, not the original purpose, or what the bank classifies the loan as.

That is generally how to do it.
You would want to try to structure it so that you get as much of the debt on owner occupied rates to save interest. Depending on your current set up it might be better to secure 80% on the home and 25% on the IP!

I think it generally best to find a town planner in the suburb of the land, or surrounding areas as those planners may be more familiar with the relevant council than someone far away.