Are there many people living in Australia and buying in NZ property (and vice versa)?

Chris Durman
ebank.com.au

I think you will find that a payment represents the third part of a contract (ie offer, acceptance and finally consideration). This binds the document into a contract. Taking more than a “peppercorn” for a deposit is by agreement between the buying and selling parties.

Chris Durman
ebank.com.au

Why not use the equity to leverage? Tax, duties, etc are a pain!

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M 0427809858
C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains, Queensland 4113
ACN 110 082 347
CAUTION – This message may contain privileged and confidential…[Read more]

Hi Dan. Check the majors URL’s, and you will find similar to http://www.anz.com/australia/business/prdsrv/finance/home_equity.asp
This is a good start for you.

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M 0427809858
C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains,…[Read more]

Hi Persistence. Try http://www.homepriceguide.com.au/ This is a good start.Good luck.[cap]

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M 0427809858
C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains, Queensland 4113
ACN 110 082 347
CAUTION – This message may contain…[Read more]

If you join forces?…Document everything!!! That way there can be no arguments later.
I’d suggest you look at entering into this as “tenants in common” with shares agreed (see your conveyancer about this).
If its a reactive investment then you will most likley not need extensive agreements in place (you can also go Joint Venture where each is…[Read more]

Some lenders will look at assisting you depending on your current status (if you are looking ot borrow again)on bankruptcy.
On the home front – Your daughter and partner are also trying to get ahead without offering any discounted rents/financial help, and may need to get the best return in the market – so then there may no benefit (to either of…[Read more]

Add the 1.5% to 2% to calculate – everyone has a different opinion on the market for 2005 (rates that is), so adding a margin covers you for good and for bad.
Another simple tip- calculate your gross rents, then work out what 65% of this is, and you will have have a rough but good guide on what your net cash flow will be if tenanted 100% of the…[Read more]

In a word? Beware.
The bank val should be a good indication of what the lower end value of your propoerty is. Auctioning (although the upfront cost may negate) is an option.
Multi list!
Where is a web site for private listings of property???

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M…[Read more]

A while ago….. the market is subject to some fluctuations and its wise to have a lump of equity in the property.
See if you can drag info out of some of the sites related to historic property values, property turnover, and average rental returns (which have been higher than the major centres given a higher transient population).

Chris…[Read more]

Big tip- get a guaranteed investment return – you need as much of the money as you can get, low risk so you know exactly how much you can withdraw when the timing is right. There are a lot of people out there who have invested into a high yielding product, but ignored the risks!
My advise? – Go the traditional route, go Bank or guaranteed returns…[Read more]

may be hard to do – have you thought of looking at non housing finance? Personal Loans (drawn progressivley), HP, Chattel etc?

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M 0427809858
C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains, Queensland 4113
ACN 110 082…[Read more]

The hassle for you SP is that the banks will push the cost to you irrespective. Generally the banks will be happy with a conservative valuation (which is possibly not to your liking), whereas you may beleive that the value should be higher – and seek a valuer who agrees with you.
There are a few in the market who are deemed to be very conservative…[Read more]

Milly- present the argument to the bank or broker as a 1st point. If you are selling and buying another, you could offer the new property to replace the one you are selling (as security). The bank can also be asked to set out in writing to you why they wont “allow” you to have the others as stand alone. The lender usually will take as mush…[Read more]

Brahms- the bank/funders calls for the valuation – they wont accept, by and large, your own valuation/valuer. Except when purchasing the property (in a lot of instances) where your purchase proice reflects the market asessment/value of the property.
a) You have the right to seek out who will write your business- funders therefore bid for your…[Read more]

Correct Dan- the broker is compensated by the lender (on most residential) deals- and the more lenders the broker has access to the better it is. Commercial and other types of finance are usually a different story for the broker.
I’d suggest stay flexible while you get the property, and then look at the change of the structure once settled. You…[Read more]

Goodbuy- a quick one- were these details explained to you when you signed up the funders docs? If not you may have a real case.

Chris Durman
Commercial Capital Finance Pty Ltd
B 07 3853 5221
F 07 3853 5256
M 0427809858
C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains, Queensland 4113
ACN 110 082…[Read more]

Certainly a grey area. The banks argue that the valuation is for internal use only, however you are the client that has created the transaction, and they are effectivley the hanger on!
Also, the values placed by the panel valuer(s) may not reflect the advertised asking price of the property. Banks will under vlaue properties except at settlement…[Read more]

Dan- as you have said there are hundreds. HOw do you chose the right one?
For a start, a mortgage now is not a life long marriage for better or for worse. You will find that you have the option to change, and within the one financial institution – so dont feel as if your decision now will be the one you are stuck with for the rest fo your…[Read more]

Certainly its a foot in the door- dont get caught out with issues in the contracts- every one loves each other before the money changes hands! Best you talk to the real estate agents in the area you wish to live, and see what “vendor” finance may be offered. What you propose is sometimes hard to find in a growing market however Sydney is off the…[Read more]