Qlds007 wrote:
Depends on who the lender is these days it could be Nil.

Hmmm….the broker has previously indictated the lender (which is BankWest) will give a partial refund within 12 months.B x

Phew….vendor is happy to settle earlier….now it is just up to how quickly the bank/conveyencers can get things happening…..*sigh* …if only these things could be done in 24 hours!!!!B x

Great…thanks for that!All appears to be confirmed…after initial delays with finance….so settlement was put back a bit…….Will speak to the legal eagles!Thanks!B x

Thanks Nicholas:That does help….I am also trying to plot out how the LVR formula works – step by step – so I can run various scenarios and work out what comes in below the need for LMI…..B x

Actually, we have found another property that would fit the bill, and explained a bit of the situation to the agent who said a possible rental/long settlement is very much a possibility to the vendor depending on the offer made – it was their PPOR then an investment property and is currently vacant….they are selling up properties *allegedly* a…[Read more]

Ughhh!I am guessing by the tumbleweeds blowing along this thread that things are more grim than I imagined!Trying to find info on bridging loans – plenty mentioned here but having trouble finding mention of the actual institutions used.St George relocation loan idea turned out to be a bust as although current mortage is under the 80% LVR, the 2nd…[Read more]

duckster wrote:
See if you can get bridging finance if you are selling the PPOR property. You may find interest rate is higher but it may help with the timing problem.

Thanks Duckster!I would have thought the cost of bridging finance would be higher than that of the likes of the St George relocation loan….I am happy to be corrected though!B x

Oh….I should add, yes we would sell the property in the previous town in a heart beat….it was never intended as a rental property, the only reason we didn't put it on the market at the time of moving was because the market was so flat – agent evaluations were quite low – but that has all changed now, with agent estimates more hopeful.Only…[Read more]

Yes…..have a current property to sell…..B x

Hmmm……Interesting, thanks guys!I should mention that the current mortgage is with ING.Oh boy, we really would like to purchase and avoid renting again!Thanks!B x

Hey thanks gmnicho…I appreciate your response!Even at your very lowest estimate of 25k – you think it would be that much to paint internally, paint externally and repolish floors….so at least 8k for EACH of the three jobs? That is before looking at possible re-stumping or re-wiring??I knew getting things done professionally would cost a bit -…[Read more]

Thanks RIchard!Er…yes, certainly am asking a lot of questions…trying to finally get smart about this whole business.I am currently waiting a call back from the mortgage lender to get some details regarding portability of the loan.Yes, the plan is to sell property A before purchasing property B….and yes, I understand that additional finance…[Read more]

Thanks everyone!We have decided not to attend.Initially we went with this PM as that is all they do – manage properties – no real estate sales. But it has kind of back fired as they seem rather pedantic. The 120+ condition report jpegs of the property should have warned us – separate photos of the phone book, the spare light bulb for the WIR, and…[Read more]

Hey Mal111:Thanks for your interest…I have decided to spend the next few weeks finishing my emptying out of the place – as a lot of my stuff is stored there. So by the close of January I should be ready to show it to agents of any interested parties….That is my deadline, and I am doing my best to stick to it!B x

Hey, thanks everyone – I didn’t think they’d be so many people with such varied ideas….I didn’t want to bore with too much detail in my original post, but as everyone is coming up with good stuff, here is some more detail:  Okay, I am ashamed of the figures. Purchased late 2005 for 85k with not much less than that owing now.  Mortgage further com…[Read more]

Hi Marc and AlleyKat:Oh I know you mean really well….and I can see how what you are saying would work – if done by anyone else! Sure I am willing to put my back in by doing cleaning up work, but doing the actual improvement work – well that is a different matter….and I am the more handy member of my relationship.After years as a tenant I am…[Read more]

Dear Jase & Flic:Good on you for your success and thanks for providing the detailed look into your adventures. This is really useful stuff!I am still working though the numeorus posts of the thread….so in case it hasn't already been answered – may I ask a rude question?What do you calculate your renovation costs would have been had you not been…[Read more]

AlleyKat:It sounds like you are in a great position no matter which way you go! I envy you!My own situation is a mess. I am plagued by regret and indecision:A few years ago I bought what was to be my PPOR in rural Vic – a 40yo ex-railway house – for mid 80k. Although it needed work, the surveys showed it to be a solid 3br aluminum clad house. It w…[Read more]

Do we need to show our suture scars to be admitted?What are the costs of meetings?Where can I buy the book and the DVDs?Where do I log in for the podcast?Will there be an educational bus tour for newbie members?When will the committee be elected?Bronte x

Terryw wrote:
There is heaps of info out there.Books:Trust Structure Guide 2007 – costs about $300, written for accountants. you may find it in a uni library

Can be purchased directly from CCH at;http://www.cch.com.au/fe_ps_details.asp?product_id=5019&itemcode=34155A&bhcp=1Bronte x