Hi Cha,

Just coming back to your comment "Is there a state that do not have or have considerably less stamp duty?"

Stamp duty calculators for all states can be found on numerous websites so you can compare the various states. If tax is an issue for you do not forget to consider land tax.

Trying to save stamp duty by compromising your property…[Read more]

Hi Jamie,

I am not doubting the SS meetings in any way at all.

I just wonder if the SS event is more a networking rather than seminar event. Given the initial enquiry was trying to get some strategy/approach tips and techniques as part of their own learning journey I wonder if they wouldn't be better off tracking down property seminars from…[Read more]

Hi Shell,

Set yourself a timeframe and stick to it.

Hi Cha,

Don't forget to look at areas within a state too. Some parts of some states do better than others.

On top of this various media organisations and property research groups such as APM, Residex, RPData etc all make predictions about various states. It is not an unusual occurence to see contradictory predictions being made.

ANZ also do a…[Read more]

Hi Freckle,

Just speaking with the guy who manages our development projects for our clients and a quick look at Onslow tells us the town is zoned R20 – so limited scope for development there. Compounding this is a distinct and significant lack of service infrastructure which is going to hamstring the town for a while.

Mind you Chevron are…[Read more]

REIWA Stats & Market Information for Onslow here

REIWA Stats & Market Information for Newman here

Readers need to be aware some marketing groups & REA have been actively marketing Newman. With only 52 sales in Newman over the last 12 months median prices are subject to distortion.

Similarly Onslow has had a significant median price increase but…[Read more]

Lived in a unit on Harborne Street many years ago – not sure if they are the same ones,

Buy in WA and you'll be offered the same protection I know some excellent property opportunities

Qlds007 wrote:
No not a type at all.

Desparate times cause for desparate measures and you would be surpised what lenders will accept if it is a cash offer no questions asked.

Wont say it wasn't without headache dealing with a lenders legal department that doesn't answer correspondance but certainly worthwhile.

Deals like this are out…[Read more]

Agents and conveyancers/settlement agents/solicitors handling property sales in WA now have to get 100 point ID check done from vendors.

This requirement came into effect as a result of this scam.

Hi Moxi,

You are correct – OTP contracts are very often weighted very heavily in favour of the vendor. The issues you raise are pretty close to the mark. 

In the current market banks are reluctant to lend to large developments unless there are significant number of pre-sales. This means unconditional OTP sales and the purchaser is potentially…[Read more]

I understand the person who owned the property was working overseas in Africa – the same continent the scam originated in. Probably just a coincidence.

I also understand both properties (one sold + one almost) were mortgage free.

But – scammers are getting trickier and trickier.

They would probably prefer to make payments in line with their own pay cycle – will make things easier for their own budgetting. Worth the question tough.

Hi Mal,

Onslow is an interesting one.

I expect getting funds for a lend in Onslow will be extremely hard – I expect lenders will consider it to be highly risky. We are hearing the Onslow LNG companies are looking at Karratha, over Onslow, as a place to house their construction workforce.

Insurance premiums will be high in Onslow – cyclone alley…[Read more]

Today's Property Observer has an article on NRAS Property here

Thought it may be a useful read for some people.

You'll probably find the contract you have signed is pretty well water tight and if there are any out clauses they'll be few and far between. The builders/developers of these projects and their solicitors are well versed in these sorts of contracts.

Get your broker to review your situation in light of your changed circumstances and see if you are…[Read more]

Chris2012 wrote:
We had the property revalued and extended to loan ready for our next purchase.

Could I pay the council rates of the IP, which is a tax deductible expense, from these borrowed funds?

Hi Chris,

Taking a bigger picture look at your proposal.

Tax deductibility with the caveats mentioned above will generally be fine.

But take…[Read more]

Has already happened once in WA.

The owner of the property sold out from under him almost lost another to exactly the same scam. Only got caught out when a neighbour happened to mention the property sale to the owner.

I expect a BA will meet with you to find out what you want, how much you can afford and which areas you want to buy in.

When they find a few properties that meet your requirements they'll present you with all of the details and work from there.

I am not sure about BA fees – suggest you do a google search and see what comes up.

If you find a…[Read more]

hannahbella3 wrote:
  she told me that it was just a glitch in the system and the tenant is only $120 behind,

'only' $120 behind. Sounds like your PM doesn't recognise the importance of doing their job properly. Tenants generally should be in advance. Sounds like your tenant may be $120+ 2 weeks rent behind.

hannahbella3 wrote:
so i said…[Read more]