Forum Replies Created
Hello,
I am not an investor but have just been through placing offers and dealing with real estate agents for our first home. Each and every time we had the same thing told to us that you have regarding the standard building and pest inspection clause. I was not happy with the standard clause and had written my own, so basically I was able to decide what was a problem and what wasn't, giving me freedom to get out of the contract if needed. My main reason was regarding asbestos, in their standard clause it was not a structural defect but in mine it could be.
The last offer we placed on a property was the one we purchased. To get my clause onto the contract I said straight out that unless they can show me in writing, from the real estate act and not their in-store policy, that I am not allowed to put it in it was going onto the contract! The result was they put it in.Cheers
Thanks for the latest report, very much appreciated.
Thanks for the reports, excellent service you're offering.
Cheers
Thankyou Richard for the report, very much appreciated.
Cheers
Thanks for the replies, it may be best to just put it off a little longer and save like mad. Out of interest who is the bank/lender that still lends 95% with no genuine savings?
Mike,
As per usual great service and a great report. Very much appreciated.
Craig.
Nice looking piece of property. How did the auction go? Did you have a crack?
Mike,
Once again excellent and prompt service. Thanks again for the report.
Cheers
Mike thanks very much for the report and for the prompt reply. Very appreciated.
Just out of interest, for a customer that does have 'current credit facilities' with the CBA how much above the maximum of 90% LVR that can be borrowed? Is it up to 95% or is there potential for up to 100%?
Hello All,
Firstly thanks again for the advice so far, really helpful.
I am hoping to get some more advice, we have another option with regards to above and that is a family member is willing to put up a cash deposit for us in the form of a guarantee. I am wondering what options we have with this, is it possible to put this cash into say some sort of account as a guarantee on the deposit until such time we have enough equity in our home to release it back to the family member like what would happen in a family equity situation? or is it only possible to take it as a gift then when we have enough equity in our own place, refinance the loan and pay the family member back? any other suggestions?
Thanks for your time.
Craig
Thanks for the response. I am also wondering if anyone out there knows if the following question from my earlier post sounds possible?
We are wondering if we would be able to take out a home loan through the same bank, which both my fiance and I also bank with, and my parents would be able provide a guarantee for a deposit using a nominated amount of their equity say 10 or 20% (like a guarantor on a personal loan) and we would be able to borrow the full amount avoiding or even reducing the amount of mortgage insurance payable? Basically my parents are willing to help out as long as they don't have to change banks, refinance or spend more money, does this sound like a possible scenario?
Cheers
Thanks again for your reply, as far as I am aware they have only refinanced their home loan once or twice to purchase a car and some kitchen renos. If it wasn't for these the loan would have been paid out a few years ago as they have had the loan since the early 70s. We are wondering if we would be able to take out a home loan through the same bank, which both my fiance and I also bank with, and my parents would be able provide a guarantee for a deposit using a nominated amount of their equity say 10 or 20% (like a guarantor on a personal loan) and we would be able to borrow the full amount avoiding or even reducing the amount of mortgage insurance payable? Basically my parents are willing to help out as long as they don't have to change banks, refinance or spend more money, does this sound like a possible scenario? Also metioned in a previous reply was the fact that my parents would not be able to use the property for further borrowings during the time of the guarantee. My question in relation to this is does that mean no further borrowings at all? or lets say (hypothetically) they have 10,000 left on loan and 90,000 in equity, they nominate 10,000 equity as a guarantee to us but they can still borrow against the remainding 80,000 equity if needed?
Hope that makes sense
Thanks in advance
Craig.
Thankyou for taking the time to answer. As far as my parents having to refinance, if we take out the home loan through the same bank would there be anything they have to change or fees to pay in relation to their loan?
Cheers
