Clause 3.1 of the terms and conditions of the REIQ contract (QLD only) reads:-

‘ This contract is conditional on the Buyer obtaining approval of a loan for the Finance Amount from the Financier by the Finance Date on terms satisfactory to the Buyer. The Buyer must take all reasonable steps to obtain approval. ‘

You must take care to read all…[Read more]

Hi Guys,
In QLD, 95% of the time the Real Estate Agent draws up the contract to have people sign. While some of them are good, there are far too many contracts being stuffed up from the outset. My strongest possible recommendation in purchasing property is to have your solicitor review the contract before signing anything. Find a good solicitor…[Read more]

ctl,
The simple answer is yes, if the other parties solicitor is worth their pay they will require confirmation. I work as a conveyancing paralegal in Nth Qld and I am forever faxing letters of finance decline to end a contract and we must include the letter from our clients financier to prove that they have actually been knocked back. If you do…[Read more]

I work as a conveyancing paralegal and we just settled on a property for our clients who had a First Mortgage with National Australia Bank and a Second Mortgage with Credit Union Australia.

Basically, if you want something, you just have to ask. Even if you are told No!, you will learn something from the experience.

Cheers
Shaun[]

‘It’s Easy To Be A Property Millionaire’ by Craig Turnbull isn’t too bad. He does push -ve gearing a little but also advocates purchaseing +ve geared properties to balance things out. He followed it up with ‘It’s Easy To Be A Property Multi-Millionaire’ which I haven’t had a chance to read yet. I think I read about 9 books on property investing…[Read more]

BC,
Go with what your Solicitor tells you. I only deal with QLD contracts and it is very possible there are a different set of rules in NSW.

Cheers
SHAUN

Hi all,
I send this to clients every day:- “As from the date of the contract you are in law, the owner of the property. The contract stipulates that from the date of signing, the risk of the house being damaged or destroyed lies with you. Accordingly, if you have not already done so, please urgently make arrangements to have the property insured…[Read more]

Hello Everyone,

I am a Conveyancing Paralegal in Townsville. I spend all day long doing the paperwork involved in buying and selling properties. And I mean ‘all day long’ too, the Townsville/Thuringowa market has gone nuts over the last 4 to 5 months.

Great site, great people! I have really enjoyed reading through all these threads.

Shaun