Forum Replies Created
Hi Bonnie,
My Perth UBD tells me Forrestfield is the next- door suburb to Perth International airport on the South-Eastern side; guess where the prevailing winds come from here in Perth? It might be why it was so cheap.
B2
Dan,
Are you thinking of buying in NSW or elsewhere?
Totally agree with Dazzling, and would add that if there is something the building inspector missed, but you are concerned about, then don’t be shy about asking them to “please explain?”
I only found out by asking, that what looked like a “settling crack”, was in fact the first sign of an expensive structural problem associated with a long span in a house constructed out of thermalite bricks.B2
Thanks Derek.
B2
By “big”, I am assuming you mean capital cities with their overheated property prices. But when is “small” too small. For example, would you buy an IP in a township with a population less than 10,000, even if it is a ‘regional center’?
B2
I even had one valuer who commented without any hesitation that if there was vendor finance involved, he’d only value the house at 80% of the contract price – that’s what the lender he was working for had told him to do.
What does the type of finance have to do with the valuation on a property? I thought banks use independent valuers to get just that, an independent valuation, or am I being naive? And now that the (I think it was) Commonwealth bank is trialing a software-only valuation package that requires no inspection of a property, are we likely to see even more financial sleight of hand, in dissapearing V of the LVR?
B2
You don’t write what state you are from, but if you are in WA or SA, forget flipping as it is illegal,apparently.
B2
I beg to differ: I was fortunate enough to take out a loan around June 2003 fixed at 5.74% for 5 years, and wish I had refinanced all my other loans then. Why didn’t I? Complacency, not bothering to check what my old interest rates were, compared to the new rates and the fear of the high cost of refinancing fixed loans, fueling my complacency. Not that I ever bothered to check how much EXACTLY it would cost to refinance. That “economic cost” clause is intimidating, until you ask for the dollar value!
Tanya Forlani
