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Thanks Derek and PrimePropertyInvestor,
Unfortunately we didn't ask for vacant possession, but this is certainly good to know for next time. We will just fight it out through the CTTT which might be troublesome but better learn this lesson now and know better for next time.
Thanks all.
Appreciate the feedback.
Paul – they are lodging the bond transfer forms and working with us on a new agreement. I've spoken with the PM a few times and she doesn't seem incompetent just going on what the current owners are saying she do. I will however tell her to lodge with the CTTT as soon as we settle and the property is ours.
Scott No Mates – that's what I thought but was hoping there might be some loophole that someone knew about that would benefit us in this situation.
This is very interesting… in NSW the government does throw money at Early Intervention Programs and as part of my job I go into schools, pre-schools and childcare centres and do Protective Behaviours with the kids… the only problem is it is only so effective if it isn't followed up at home. I think it's unrealistic to ask educators to keep increasing what they teach children because what they learn at school HAS to be cemented at home otherwise it's pointless. In pre-school I can spot the children whose parents do the follow up work at home because they are the ones who understand the concepts at the end of the three weeks and they are the ones who remember the concepts when we do follow ups.
http://www.schools.nsw.edu.au/schoolfind/locator/
You could look on here and then contact the schools directly that come up close to the suburb you were looking at to see up to what streets they accept students.
My understanding is you can elect anyone to vote as long as you fill out the proxy form.
Our strata managers send us a form to fill out for every meeting but we can also use this form to fill out how we want to vote on what agenda items and post it back to them so we are voting having read the agenda but not being at the meeting. So in essence we do just tell the Strata Manager via a form and cut out the proxy.
Hope this helps
I also wonder who is responsible in circumstances like this. I wonder if the PM didn't arrange proper repairs or if the landlord didn't authorise the repairs to be done properly?
We will sign legal documents to the effect that both the property and the debt are the legal responsibility of my father and his wife – but will this be enough evidence for Centrelink or will they still deem my husband and myself as owners of the unit and responsible for the debt?
I think (and don't quote me on this) but for Centrelink the fact that the property is in your name on the title would mean that they will still consider it as yours. Also, if you sell it/make an income from it then it gets documented as part of your means test. Have you spoken with the social workers at Centrelink or just the counter staff? It also helps to get their responses in writing/email.
Thank you everyone! This makes it a lot easier to understand the conversation
If banks are dropping their fixed rates does that mean that they think the RBA will continue to drop the cash rate?
Derek — what is SANF? Sorry if this is a silly question.
She posted a response on you tube:
http://www.youtube.com/watch?v=wElvGehqmps
She does address some of the issues that ACA raised but it went on for 30minutes so I didn't finish watching the whole thing…
From my understand about Of the Plan purchases… when you sign the contract you agree to that price (e.g. $360k) if in 12-18months time when it is time to settle the property value decreases (e.g. to $300k) you are still locked into the original price of $360k. This is why obtaining finance might be difficult as the bank wouldn't be willing to lend you that amount based on the new lower value. This would mean you would need to come up with the difference…
thanks Terry, really appreciate you taking the time to explain it.
I found it interesting because of the vague/general comments/figures. It was even more interesting to see what other people thought. Thanks for some thought provoking comments.
So do you have to add their income or is this optional? And how does it affect my tax return?
Sorry if this sounds silly but I’m not really sure and I will ask my accountant but I would like a basic understanding before going to see himAdditionally, can someone please explain what the difference is between filing tax return jointly or separately when married…?
From what I have read on here the general information given is if you are going to turn your PPOR into an IP at some point then it should also be on IO loan with an offset account.
Other than that you'll need to wait for one of the mortgage brokers to answer your question.
Thank you for your response. That is what I thought but the ATO website didn't make it easy for me to find the answer I was looking for.
From what I know about guarantors you have to be able to prove that you are able to service the debt for a period of time. In my experience a guarantor is required when you don't have enough credit history so the bank requires someone to take responsibility for the loan if you default. In my experience (but this is very limited) what it took was 12 months of being able to show on time payments and reliability and enough time to build up a bit of a credit history with the bank.
I'm not sure how it would work in your situation, maybe speaking to the bank about what they would require for you to be able to have the loan without a guarantor would be a good first step as they would be able to tell you based on their policies.
Not sure how your situation works but normally the body corporate is there to manage, and maintain the common areas everyone uses like the stairwell, car park, pool etc. There are laws that determine what they can and can’t do and the rules they can set. In my experience it is difficult to get all the owners to agree to something, or to chase up repairs or quotes for things so the body corporate stays on top of that, makes sure the buildings inspections are done and filed with council etc.
If there is no body corporate does that mean you have no sinking fund? What happens if there need to be repairs? Who is in charge of making sure the insurance premiums are paid and holding the paperwork for others to access if necessary?
Dubstep wrote:Hi Kristin,
Where is this one ?
i know i'm not Kristen but i'm pretty sure that one is in the UK
