Certainly not a scam. This has been around for hundreds of years.

Consider structure set up too.

Future deductibility, savings, CGT etc. It may be posisble to set it up so that the first proeprty could be CGT free by simply living in it briefly.

I would prefer a LOC initally so as to maintain deductibility. A standard loan will cause problems unless you can directly access money available in redraw.

Sounds like your broker is not capable – make the switch sooner rather than suffer the consequences of more hits on the CRAA etc

Not necessarily in NSW. If the thing that is not disclosed is known by the other party then they can rescind the contract in x days, but if they chose not to, or until they do it would be binding.

Cancel the contract – then read it – and make a new offer after getting advice from your solicitor.

Why are you doing this?

You should not use a conveyancer as your need additional legal advice in relation to estate planning, taxation, equity, family law and insolvency, stamp duty.

In Vic it can be done with nominal stamp duty, but if it is being done for investment purposes any interest will only be deductible if one spouse borrows to buy the other spouse at full market value.

Items of a capital nature could only be depreciated rather than claimed outright. that is a portion of the cost claimed each year for x years.

You should only hand over money on the production of a tax invoice – from the person you pay.

As long as you made no representations it will be difficult for them to get anywhere. Of course they could still sue you, but this doesn't mean it will go anywhere.

CGT may not apply as your intention is to sell at a profit.

Unit trusts can only distribute income in accordance with the deed which will be a fixed percentage based on unit holdings. Maybe look into discretionary trusts.