Good morning Richard!
“yes’ i’ve heard of the position with the local council of ‘Peg Inspector’..[biggrin]

Glad to see you have your 110% lending program happening! Look forward to hearing about it.

Land Subdivision can be a minefield as said by others in this forum. Find someone who has been through the process. Different States, even councils…[Read more]

Hi Fluffy,

Two of the Mappers, John & Rhonda, seem to specialise in subdivision. They’re in SA so the rules may be different to Qld.

Didn’t know Queensland had any rules.. thought you just banged some pegs in the ground and went for it![biggrin]

Apostle

Hi there..
don’t know where you are but Alastair (Melbourne)in this Forum is excellent. His Dad runs a great town planning business and He is certainly switched on. I met him in Perth recently and certainly can vouch for him. I’m sure he would be only too willing to point out the process, ups and downs etc.. You can reach him on:…[Read more]

gotta agree with John here. This is real growth, not a bubble. There are people coming into the place for work due to all the industry that is rapidly growing.. I’m in Bunbury, about 160k south of Perth and the place is steaming.. Builders closing display homes because they can’t keep up with it too.
Consider this:
Bunbury (and WA) has…[Read more]

agree with you, we do.. but Current Affair in WA gave it a flogging recently. usual bad examples.. the media Aus wide seems to hate it so be careful in WA.

Apostle

agree with you, we do.. but Current Affair gave it a flogging recently. the media Aus wide seems to hate it so be careful in WA.

Apostle

It’s a wrap! Mortgage wrapping is illegal in WA!

You really need to check on this one! Department of Consumer affairs says you need a credit providers licence to do any amount. You are basically lending money without a licence. They took someone to court in WA and he got fined $2k. I talked with Rick Otton and he said he had talked to cons…[Read more]

Does antbody know what a ‘put and call option’ is and how it relates to property. Stamp duty is now payable on it in WA as if you had a contract of sale. Does an ‘option to puchase’ attract duty over East? or is this the same as a put and call?
Cheers

Apostle

Hi everyone.. I’m in Bunbury, WA..
here’s my 2 bobs worth.
I am sure whilst looking through the council notes that the Marmion ave extension was a condition of subdivision at Capricorn village, so it HAS to go through.

Bunbury recorded some 30% growth last year and is still the cheapest place around. An agent friend of mine says people are still…[Read more]

In WA.. Depends at what stage the sale is at.. If a deal falls over due to a condition of contract, (ie: subject to..) then the (any) deposit paid is refundable (less any bank fees ot charges) Deposits over $500 can be placed in an interest bearing account (for you) if so requested by the Purchaser.

The question of ‘consideration’ is a good one.…[Read more]

Hi guys.. Yes you are right.. Wraps are illegal in Wa unless you can get a credit providers licence (6-12 weeks plus a lot of proof about other stuff) but We had a really bad case over here. see http://www.docep.wa.gov.au/media/media/2004/April/Mortga.html We are a relatively small state and the publicity was on Current Affair. It may be leagal with the…[Read more]

Hi fellas..
don’t mean to get stroppy but where is the creative side to all of this?.. Pay cash? that’s original.. save money, use equity.. get a standard loan? …. sorry guys but let’s offer some ‘creative’ solutions to help here..after all, this is ‘Steve McKnights’ business. (read his books etc?) Instead of accepting the staus quo, lets look…[Read more]

Just pointing out that Wrapping is Illegal in West Australia. So watch out anyone thing about this in WA!!

Apostle

“Terry

I think we all now those lenders who will lend against valuation rather than purchase price.”

Wewll, I would just LOVE to know who these lenders are!!

If I have a sworn valuation at $250,000 and I can pick it up for $225,00, then that’s a good deal. Banks only want the purchase price because they want as much security as they can…[Read more]