Hello! Wow my first post. I must admit that this forum has been invaluable to my research into buying out first IP, and yes the aim is to walk into the light of CF+!
I do have a couple of queries which I hope more experienced investors can help me with.
The toss up between a solicitor or conveyancer (which one??) – if anyone can recommend either that is well experienced with all the essential clauses related to finance/negotiating longer settlements – early access/building and pest inspections (and reasonably priced!!) – within the Sydney area. We want to find a reliable one that we use throughout our investing future!!
Also, do we need to get a depreciation schedule done on a property in which we want to buy, cosmetically enhance and rent? This may be a dumb question, but if we do need one, do we get one before or after the renovations?? Once again, if anyone knows of a well priced contact for this I would greatly appreciate it! [biggrin]
oh and one more please – when we make an offer on a property, do we have to mention or have in place the ‘subject to..’ clauses in the contract setup already?
Many thanks in advance!!! and wish us luck [happy3]
Welcome to the forum pixel,
some answers to some of your questions:
1) Conveyancer or solicitor?
If you have like minded friends/family or you know a few people that have purchased property in the past, ask them how they went about the purchase and the method that they used.
Have they bought more than one property using the same method? Have they tried different methods? Do they have anyone they could recommend to you that you could meet and ‘assess’ them for yourself.
Ultimately you have to be comfortable with the person who will be handling each of your future property purchases.
2) When you finally make an offer on a property, be sure that the offer DOES include any ‘subject to’ clauses that you may have in mind:
‘subject to finance being approved suitable to …….’ etc.. may be someof the clauses you may wish to research for yourself.
Goodluck and don’t lose sight of the big picture! [thumbsup2]
It is only your thoughts that create your future – Be careful what you think!
Congrats Pixel on your first PI well done!
All my properties have got depreciation schedules it allows maximum tax deductions on your property.
I have used Scott from the Depreciator from this site to do my properties and I have been more than satisfied with the service/schedules that he has provided.Good luck
Jenny1
Thanks for the replies! We have decided to go with a conveyancer. The more people we ask the more we hear “Conveyancer!”. And we will be calling Scott to organise a depreciation schedule soon.
*Fingers Crossed* [biggrin]
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