Forum Replies Created
- WJ Hooker wrote:
chrislang,
Where is the house?Maybe it could be worth another pest inspection by another company? Maybe the buyers could suggest the sellers could contribute to the costs? It would be hard to get out of the contract unless the pest inspection says that termite damage has caused a major structural damage. They should talk to their solicitor about it urgently and see what they can do.
The house is in VIC, and you're absolutely right, they can't get out of contract because although there was some damage it's not a "major infestation" as the contract says. I was hoping they could cool off but they've missed the cooling off period.
And here is another article for you about Due Diligence, enjoy: http://www.invested.com.au/75/what-due-diligence-4176/
Hi Christian,
I would call this article a good start: – "How to find a great house for a good price by asking the right questions", here are the links to part 1 and part 2. It is very beginner-oriented.
http://www.homeiown.com/how-to-find-a-great-house-for-a-good-price-by-asking-the-right-questions-part-1/
http://www.homeiown.com/how-to-find-a-great-house-for-a-good-price-by-asking-the-right-questions-part-2/alfer wrote:I'm really struggling to see the advantage of purchasing in a trust other than the asset protection especially if you can't negatively gear it? Is the reason you can't negatively gear it because it doesn't incur many expenses?
I had the same questions and this article here addresses them all and more: http://www.propertyupdate.com.au/articles/149/1/Trusting-Trusts/Page1.html
I read it a while ago and it explains about trusts and when to use them really well.
Here is how you can find the percentage of renters in your "target" area:
Go to census website http://www.abs.gov.au/websitedbs/d3310114.nsf/home/Census+data
Click there on "2006 Quick stats" link, then type in the postcode of your "target" suburb, click "Search" and then choose the suburb in list and click on "Quick stats".It will show a table with statistical data for your suburb, and you need to look under "TENURE TYPE – OCCUPIED PRIVATE DWELLINGS" category – it will show you the percentage of renters in that suburb.
Good luck with your purchase!
fallout wrote:This has already been agreed on by the developer, so there are no issues there.I'm more worried about the federal government and if there are any issues surrounding that.
Is this dodgey? Could my current solicitor be obliged to report this type of activity?This could be dodgy, changing the date on the contract to get the increased grant is considered criminal offense ("obtaining property by deception"). I have just published an article about it in my blog Home I Own (not sure it posting a link to it is acceptable? If not, moderator – my apologies, just remove the link ) http://www.homeiown.com/is-changing-my-contract-to-get-fhog-increase-a-crime/. But in any case there are circumstances that may allow you to do what you need to, I think that if you asked Peter Mericka (I have nothing to gain here, we're not related – he is a solicitor and I used his services, highly recommend to others). You could comment on his article about the contract dates and possible fraud warning (http://reic.com.au/blogs/australian_real_estate_blog/archive/2008/10/17/first-home-owner-grant-fraud-warning.aspx), he always answers the comments.
Anyway, good luck with it!Cheers,
ChrisJon Chown wrote:As to your 20% below list offer – you may well think that it is a good price (for you) but I can assure you that as an agent, it would not get me jumping to help you. RP Data have an interesting calculator that shows the average difference between Advertised price and actual sale price and in the area that I am servicing the average discount is 5.8%.
It is my understanding that every area is different (even within the same suburb) and one would need to compare the asking price and the selling price in that specific area to know what discount applies – the average is not good enough. This is what works for me anyway.
That's exactly right Linar, and in many cases buyer is kept in the dark about what's really going on, I mean has a vendor really set that threshold for offers or it's agent's games, trying to get a higher offer from the buyer. I called REIV some time ago (they have a help line) and they confirmed what you and L.A Aussie are saying, that the agent must pass every offer on to the vendor unless he was instructed by the vendor not to. It didn't help me one bit to understand what was going on in my situation. I too felt that the agent is playing me and not passing my offers to the vendor but had no way to confirm that, because I didn't have vendor's details and couldn't speak to him myself.
