Hello all,
I have a close friend who, unfortunatly things have turned sour with her partner and is now looking to sell the house that they still share.
When buying they utilized the FHOG and have been living in the house for 9 months now. My question is…..will they need to pay the $7000 back to the government if they sell now? Or, since they have lived in the property within the first twelve months of ownership they do not need to pay the $7,000 back? The property is in Victoria if that helps.
Also, if they have to pay the FHOG back, are they able to put it on the market now with a 90 day settlement, and therefore it will be sold after the 12 months or ownership.
Thankyou for your time and your knowlege would be greatly appreciated.
They don’t have to pay the FHOG back if the property was their home for any period in the first 12 months.
Hope this removes one worry from her mind at this difficult time.
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985No need to repay FHOG as they have lived there. Settlement terms are whatever they can negotiate with the purchaser – even a year.
At the risk of repeating everyone else,
i lived in my current ip for couple of weeks until i lost my job and didnt have to pay back the fhog. i did check with the relevent authorities but didnt have to worry about it because the rates and bills had all been in my name.
hope this helps your your friend at this difficult time.
j
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