Yes stamp duty would be claims me as would legals on buy sell. U may have to add back depreciation though

$150,000 'profit'

take off buying and selling costs, = maybe $120,000 profit
50% discount = $60,000 profit

90% = $54,000 to him
$6,000 to you

He would pay a max of about $20,000 in tax.
You possible no tax.

It is not so bad if this is the case. (very rough)

Why would anyone buy a property that comes in under valuation?

They will no doubt be arguing a verbal contract

Good luck with it and pls let us know what happens

I see. In that case then the administrators can continue with the litigation. How much are they suing you for? usually they wouldn't bother as their fees would be more than the get back – good way to get paid though!

It is possible but only invest with money that you are prepared to lose

Foreigners cannot own land so you would need thais to help you even if forming a company you need majority thai ownership

Great place to retire to cheap, but bkk getting expensive countryside still very cheap

Who are the liquidators?

Hi

I am a solicitor and have a biased view of course. The problem with using a conveyancer is that they aren’t trained in other areas of law. Sometimes this other knowledge comes in handy when doing a conveyance – family law, succession, trusts, bankruptcy etc etc.

However, in many cases conveyancers do know more about property transactions than the average lawyer who may not do much conveyancing.

I have just sold 2 properties and used a conveyancer in one state and i used another solicitor in NSW rather than do it myself (because i was busy and to get an impartial second person involved).

I’ve also purchased over 12 properties without ever seeing them. Its probably not a good idea really because you will not know the general area there. It could be in a good area, but the worse street for example.

If you do buy just based on numbers make sure you use someone, such as a buyer’s agent, to investigate the property and the area for you.

Can’t help with vic, but tell your advisor to look at partitioning the property under the duties act. ie when you buy it you buy in the same % share as the end ownership. Not sure if it can be done down there.

or http://www.houseofwealth.com.au