Forum Replies Created
Doesn't sound like a mid life crisis as you sound young!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Ideally you should secure you loan to them. But if you do this then they may not be able to get finance as no lender would want to lend to them. Another option is to lodge the second mortgage after settlement.
Interest rate can vary depending on how good a deal htey are getting. Nil to 15% maybe.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
bb, what are you trying to do? Or what was your intention in wanting to sell it to yourself?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You can't contract with yourself!
Who owns it now and who wants to buy? If the same then impossible. If one spouse selling to another then ok, if a trustee selling to himself then ok – subject to terms of trust.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Are you sure the stamp duty is so low? What state is it in?
steps
1. get a lawyer to review your contract
2. get lawyer to prepare contract of sale
3. find agent
4. find buyer
5. all settle on same day.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
What?
It will be hard to market if it is not complete. You will not be able to show people through etc.
There may also be other people trying to sell as well.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes, you can. But it won't be easy.
Maybe talk to the same agent who sold you or another agent in the area.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
techuser245 wrote:ASIC advised they cant do much about it.ASIC can do something about it if a bankrupt is operating as a financial advisor. The person would be breaching the Corproations Act and ASIC have the powers to deal with this. On the other hand the guy is probably not bankrupt and probably is not giving financial advice. But put your allegations to them in writing and they will look into it.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
DeepThroat wrote:They are smooth and employ smooth people like John and Tim. Someone said John is a Bankrupt moonlighting as a financial advisor! Where is ASIC and why are you paying club fees!
!
Did you report this to ASIC?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Have they just changed their name or are they forming new and separate companies?
If you go to asic.gov.au and do a name search you can find them. If they have a new name then that will be listed too. You can also go to http://www.abr.gov.au and do a name search there. Look at history.
If it is a new company then that is a separate legal person and no relation to other companies.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
williamwpy wrote:Thank you Jamie very much for the reply and I really appreciate it.I heard that when purchasing the house, you need to inform the ATO whether this property is for home purpose or is for renting purpose. Eventhough I do not physically live in the house and I rent it out. Can I still tell ATO this is for home purpose?
William
This would be tax fraud.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Best to seek specialised legal advice on this.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The fast food approach to finance!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Finance may be more restrictive for this sort of thing too. eg. Suncorp would lmit this to 80% LVR
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Lender Mortgage Insurance
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Well, you have to be careful. There are good and bad ones. Many will just recommend managed funds over property. Many are also under-educated having just a diploma which can be completed in 4 days.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
skip the financial 'advisory' and go Jamie
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
No need to even meet them in person these days.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
get the points.
No issues if you pay off your card in full each month as there will be no interest to claim
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Firstly, documents would vary from state to state.
And secondly each option would need a contract of sale attached.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
