Hi Guys,
Just after a bit of advice and information on onselling a unit that was purchased off the plan. I have not idea in what is involved with the onsell, so I apologize in advance if some of the questions seem dumb.The details are as followsThe unit is scheduled for completion around Christmas time this year.
I have put down a 10K deposit with the rest due at completion.
I was wanting to avoid any unnecessary costs (ie startup and closing costs on a loan, stamp duty etc).My questions are
What is the best way to go about onselling?
Should I wait for completion before onselling the property?
Is a realestate agent able to advertise and arrange for the onsell?
Is there anyway to get out of an off the plan contract?Any advice would be much appreciated.
Thanks,
The place I purchased of the plan about a year ago is also due for completion around christmas. My contract was unconditional so I would assume similar for yourself as well. You are able to sell it through a real estate agent prior to completion. I would suggest contacting the original agent as they may of had additional interest in the property originally or also has other people wanting to sell in the same complex. As far as I'm aware you will still be liable for stamp duty, transfer fees and settlement agent fees on the property plus the real estate agents fees. If you were to make a profit I'm not sure how the CGT would apply if you had been intending on having it as your PPOR since you hadn't moved in. Hope this helps.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
