v8ghia wrote:
Hi Christina,Depends on your state too. I'm guessing NSW? If so, your solicitor would not 'exchange' contracts until they have confirmation that the finance is in fact unconditional (ie after having the valuation done, you have singed their formal offer – which is the executred loan contract) . As far as no conditions, subject to…[Read more]

Thank you all for your reply.

thank you guys..?/ladies)cooling off period is often 3 days, can bank let you know wether or not your loan is approved within 3 days?

Catalyst wrote:
I have never made an offer with conditions.

Did you buy at auctions or private sale? and how many transactions have you done?

Thanks for the reply. The current drain/sewer runs next to the property we are interested in, but the "easement for possible future sewers" takes up around 140sqm of the property. So there are restrictions currently in place on what can and can't be built. DO you know how to find out whether the authority has to pay for the affected land? Also,…[Read more]

Thanks both for your replies.The reason we want to sell is1.we need to upgrade our family home (just had a son and maybe in the next a couple of years, we'll have another one). 2. Our current home is too far from the city where we work. Working full time, trying very hard to advance in our career, having a child under 1 year old, commuting >4…[Read more]

I read this thread, because I am in a very similar situation. My property is in the market for 4-5 weeks and has only one offer, an offer that's 10% lower than our break-even number.It's easy to say "cut the loss short and move on" while you're not in that situation…For us, we're going through so much paid making a decision on wether or not we…[Read more]

Terryw wrote:
I helped someone move a few months ago and it is a pain. Wouldn't want to do it twice in a few months, thats for sure.

We moved houses so many time, but that was when we had no kids.Now we have a 7 1/2 month old boy.. Moving houses will be much harder (my son has more stuff than I do!!!)That's one of reasons why we want to sell…[Read more]

Parents come handy in a situation like this!!!

Terryw wrote:
Or, you sell and rent for a period of 6 months while you look for the new one.This is the safest way, but then you have the hassle of moving twice!

In the past 7-8 years, my husband has lived in 3 cities and I have lived in 5 cities. And in each city, we moved houses as well. I absolutely hate moving houses ever AGAIN!We've d…[Read more]

Terryw wrote:
I am a solicitor and have seen many people get into trouble. Many will sell and buy at the same time and assume the sales will go through as per the contract however things don't always happen this way.Imagine having to be out of your house tomorrow so the new purchasers can move in. At 4pm you find out there is still a tenant in…[Read more]

I think I agree that it depends on the market condition.In a hot market, you will probably buy first. In a market like what we have experienced at the moment, selling first makes sense.You sell and you know the price you sell for.. This helps because you know how much you can afford for your new house.The only downside is where are you going to…[Read more]

Thank you all for your input.I'm selling now! My property will be listed next week and finger crossed!

ksherwell wrote:
Solution: its better to have the money in the bank, especially in a tough market when days on sale are exceeding 45days.  Sell the property 1st, get a long (90day+) settlement and ensure you have a unconditional contract before purchasing.

Thanks for the reply..A question..why a long settlement?I have started looking to buy…[Read more]

I work from Monday to Friday, away from home about 11 hours a day.I have a 7 month old son who attends childcare full time.Saturday is our house hunting day and chores day. Sunday is another day to finish off chores (just to keep the house livable)I have two to-do lists, one for work and the other one personal. To do lists are great in meeting the…[Read more]

Terryw wrote:
If you take this $40,000 out of the loan it is new borrowings and the interest on this new loan would only be deductible if used for investment/business purposes.

I do not understand this part. How come this 40K redrawn from the loan becomes a new loan?doesn't redrawing of 40K mean that the principle of the loan now becomes 100K?…[Read more]

Do you guys speak Chinese? Can you read the contracts in Chinese?If you can't, do not invest, unless you find a trustworthy independent translator.Agree with ALF1 that setting up a website costs only 100 bucks…Be cautious.

Anybody, any thoughts?

My anglicised name is Christina. I am originally from China and now live in Melbourne.My father and I did a couple of deals back in China and we made millions (?)I have a passion for real estate and hopefully, in the near future, I'll have a sizeable property portfolio(like my father did).If anybody on this forum is interested in partnering up,…[Read more]

Thank you Richard for your quick reply.We spoke back in 2009 and I am now back in the property market to look for a larger house. This time I have to find one, because I now have a 5 month old son and need an extra room!I am wondering if you can take me as your new client. I found a house that I am happy with. My husband will go have a look…[Read more]