Does anybody know if person purchasing property under wrap can be qualified for First Home Owner Grant in NSW?
If so, when it shall be received – when entering the contract or after final repayment and setlement?
Thanks
Yes they can qualify for it when doing wraps, and it will hit your bank on the first payment (or usually a bit latter, due to it being a Gov. Department).
Rgds.
Lucifer_auThank you for a quick reply. It makes a difference, isn’t it?
Wish me a good luck, coz I am about to talk to my tenant tomorrow
[cap]Hi Maxolau
Lucifer_au is absolutley correct, if you are planning to use an Installemnt Contract as the vehicle for your wrap. If however you plan to use a Lease/Option as your wrap “vehicle”, the FHOG is not available until the clients actually exercise the option, i.e. purchase the property from you.
Good luck with the tenants.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Thank you. I put today offer in writing and send my real eastete agent to talk to my tenants. Will see what will happen.
Hey, you both sounds very familiar with the topic. Have you done wraps yourself? Is it really so complecated or just looks like this at first?
Any tips? troubleshoots?
Whould be interesting to know what was the most difficult part of doing this for others.Cheers
[blush2]
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