Are you saying you want a bank to lend on valuation price rather than contract price? There are lenders that will do this, but for lower LVRs – around 75%. You won’t get one that high, although if you approach your existing lender, they may be able to accomodate a bit depending on how big your portfolio is.

Terryw
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The clauses should be in your contract – eg subject to finance approval, building inspection etc. I think there is a cooling off period in most states too.

You can only put another buyer in your place, you would be required to pay stamp duty again. There MAY be ways around this by adding “and/or nominee” after your name, but this would depend on…[Read more]

Originally posted by westan:

Terry is the longest member of this forum

[weird]

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I was going to say the same thing as Westan. Companies are not good for holding assets because of the CGT rules. Look at discretionary trusts instead – including hybrid discretionary trusts.

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Yes, the banks are all introducing DEFs now. Westpac is the latest. I think falling loan rates means they have to try and prevent customers from leaving.

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Hi

You won’t find any reliable figures for future growth until it happens!

Have a read of Peter Spann’s book, he outlines his research methods there. He basically looks for a suburb that has had consistant grwowth and hopes the consistancy is consistant!

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Online brokers charge about $15, but I think there are limits to amounts you can buy for this. Larger share prices go on a percentage still – I think.

I agree it is ridiculous with the stamp duty issues. Makes you want to abondon property and invest in shares!

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The trouble is if you order your own valuation from a valuer on the lenders panel, the lender will often not accept that. They must ‘instruct’ the valuer themselves.

But once you have one done, then the valuer would look silly valuing it down a few days later – but it does happen.

Terryw
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Yes, depedning on how much over,probably 0.8% discount as Richard mentioned.

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Kiwi

I am a bit confused. I have sold a few options over property, but never assigned an option or onsold a property this way.

Lets try to spell it out in simple terms.

You find a property, and instead of signing a contract or sale, you buy an option over the property. ie sign an option contract. This contract probably allows you to assign the…[Read more]

Returning back to the off topic topic, I read somewhere about a politician who employed a housekeeper/child minder and claimed the wages as a deduction pretending the person was his secretary. Once discovered, he had to resign in disgrace.

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Sorry Coasty, didn’t see your post.

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Hi Amanda

I think the new rebates apply from July 1. The current rebate is about $230 or so from memory which means kids can receive about $750pa now and not pay any tax.

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Hi Westan

Yes, there is a bit of a downturn, but more people are refinancing these days. Business is still good.

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Go to the land titles office home page in your state. Do a title search. This should show any mortgages, you get the folio number from this and then can request a copy of the mortgage document. Can also do the same for the transfer which should have the price they paid for it.

Terryw
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Are these people mortgage brokers? If that is what your husband is going to do, bear in mind it takes ages to get paid for loans, so he may be without an income for about 3 months. It could also take a long time for him to build up a decent income in the industry.

However, it may be worth a try. If it doesn’t work out, he can always go back and…[Read more]

6 years. Section 118-145 of the ITAA I think.

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If you want to claim the stamp duty concession, then I beleive there is a requirment that you live in the house within the first 12 months. Once you have moved in you would meet these requirements, and so could move out again and rent it.

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PTN, from Mike’s post, I think if your company is running a childcare centre, then your company can provide you with childcare without having to pay fringe benefits tax on that benefit.

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Kiwi

So your saying you sign an option, ie buy an option, then negotiate with the new on-purchaser, but they do not see your purchase contract or realise what you paid for it. Do you then re-assign your option? Wouldn’t they other party see your purchase price on the option?

Terryw
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