PropertyInvesting.com | Zuma | Activity

Zuma replied to the topic Making offers on property? % below listing price in the forum No Subject

Thu, 30 Nov 2006 07:41:09 +0000

I ended up suggesting $290k, more as a starting point than anything serious. But they gave a flat no, didn’t come back with a counter offer.

Oh well, will keep saving.

Rowan.

Zuma replied to the topic Making offers on property? % below listing price in the forum No Subject

Wed, 29 Nov 2006 16:19:55 +0000

I was going to post a similar question to this one, but this thread gave me some interesting information.

There’s an under-construction property I like — an apartment in a new 6-story — and they have it listed at $360k. I assume that’s higher than they’d accept, but I don’t know how much higher.

Someone suggested I start by offering $100k…[Read more]

Zuma replied to the topic best US/AUS exchange rate in the forum Overseas Deals

Sat, 25 Nov 2006 05:48:05 +0000

That looks very interesting, thanks for the link.

Rowan.

Zuma replied to the topic IO loans on Principle Place of Residence? in the forum No Subject

Fri, 24 Nov 2006 15:21:17 +0000

This is very interesting.

I found a place last week that I can’t afford right now, but will be able to afford by this time next year.

A short (1-2 year) IO loan that then becomes PL looks like it wouldn’t add too much to the eventual total (well, it’s not an insignificant amount, but it’s not an end-of-the-world sort of value).

Yet another…[Read more]

Zuma replied to the topic deposit/balance on property under construction in the forum No Subject

Tue, 14 Nov 2006 02:45:32 +0000

Thanks.

Rowan.

Zuma replied to the topic Making offers on property? % below listing price in the forum General Property

Wed, 25 Oct 2006 14:32:35 +0000

I’ve sort of got the impression that the vendors reserve is always higher than the list price, usually by 10%? If the reserve is higher than the list, they’re not going to pay much attention to offers below the list price are they?

Rowan.

Zuma replied to the topic the impact of lo doc and mortgage insurance in the forum Finance

Fri, 13 Oct 2006 11:41:31 +0000

I’m looking at a one or two bedroom apartment in Prahran or South Yarra for around $300k.

So the up front fees I’m looking at are:

$60k – deposit
(or)
$30k – deposit
$2k – mortgage insurance

$15k – stamp duty + legal fees
$3k – furniture + laundry equipment
$400 – loan manager fees
$100 – building inspection

Fees in my favour:

$10k – first…[Read more]

Zuma replied to the topic the impact of lo doc and mortgage insurance in the forum No Subject

Thu, 12 Oct 2006 14:55:44 +0000

So there’s no standard rate increase for a Low Doc loan compared to a standard one, and no standard LMI fee for a loan of a given size?

They don’t make it easy to calculate if you can afford a big loan. And I keep seeing extra fees pop up that I hadn’t considered.

Doesn’t look like I’m there yet though, and with the interest rate likely to go up…[Read more]