We are purchasing a pair of solid brick maisonettes at Elizabeth in Adelaide for $210000
with a return of $320 p/w. It is a private sale
the paper work starts today. She got a conveyancer getting the papers ready today and thats all I’m aware she is doing. Is there something I need to do, I’ve never bought privately and it feels a little scarey.
Finance will be available in one week and it will be a 3 week settlement, so they will be ours at easter!!! Any advice will be greatly appreciated.
Cheers BronBron, do you have your own solicitor? Because if you do, he or she will answer any questions for you. I am not aware there’s any difference between the vendor using a RE agent (who is only a go-between after all) and the vendor selling privately. But push and prod your solicitor if you have any concerns.
If you don’t have your own solicitor, have you done council checks and the range of things a solicitor does prior to purchase?
And congrats on your purchase- great to have a big fat easter egg in the form of brick maisonettes! I bought myself an IP last year for my birthday, and one for Xmas- godda love those special occasion purchases!
kay henry
kay henry
Thanks Kay no I’ve never dealt with a solicitor. Does anyone know of a good solicitor in Adelaide.
It was hard work getting these 2 as my partner is so scared of money, we’ve got 4 IP’s now, bought a lovely 5 yr old house on the coast last year it looked nice so he let us buy it. Where as this was a different buy as I was only looking for +$,
nothing flash but huge potential and + straight away.
nothing flashBeware of offering an early settlement. Some (most) lenders are so, and you may not make it on time!
It may be better to go for a longer settlement on the contract and then settle early if you can.
Terryw
Discover Home Loans
North Sydney
[email protected]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
Hi Bronny.
In SA your conveyancer can do everything – you probably don’t need a solicitor for a simple private purchase. Just make sure you have a different conveyancer than the vendor.
Terryw is right about the longer settlement, especially with the current industrial action involving the LTO.
Email if you have a question!
TerryTerence McMahon
HomeWin
Finance
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