Forums / Property Investing / Creative Investing / Call/Put Options on Real Estate

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  • Profile photo of VicInvestorVicInvestor
    Member
    @vicinvestor
    Join Date: 2013
    Post Count: 2

    Do you require Section 32 statement to legally enter into Call option over Real Estate?

    Which laws outline the regulations relating to options contracts?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    S32 only applies in VIC.

    Yes. You will need a valid contract of sale at the time of the option. You need to know what you are agreeing to when the time comes to exercise.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of fragarcolinfragarcolin
    Member
    @fragarcolin
    Join Date: 2013
    Post Count: 16

    Definitely you require it….

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Yes in Vic you will need one.

    Also remember in Vic Stamp duty is paid on the option premium.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

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