Qlds007 wrote:
DMProbably need to no more about the deal but have done several deals like this previously with no problems.As i say more information needed first.

Thanks Richard,Please PM me with information you require and I will revert back with the info.regards,

kum yin lau wrote:
Hi, can this be done?Buy it as a residential property [house and land] I'd go through another lender.Then with all the permits etc, apply for construction loan. The construction loan will most likely be classified as a business loan. Fees are appreciably higher but interest is charged only when building costs build up. If you…[Read more]

Scott No Mates wrote:
Digit, the property is a development site and is required to be valued by a valuer as such, taking into consideration the highest and best use of the property. As a matter of interest, what did the banks valuer come back at? Was it similar to the value that your valuer came back with? Did your valuer assess the site in its…[Read more]

Hi,I am in Melbourne, but we have construction company in India. We have couple of big project going at the moment, specially in GOA INDIA. Goa is one of top tourist place in India surrounded by coast and beach. We are building fully furnished resort type apartment for short to medium term accommodation for tourist. As such we are looking for…[Read more]

L.A Aussie wrote:
Doesn't sound that great a deal. This is a business transaction, and emotion should not be a factor, and if the deal doesn't stack up FOR YOU you shouldn't do it.If he needs to sell as you say, you are giving him a win by buying it at all. You could always tell him it is only worth $260k and offer him $250k (assuming he needs…[Read more]

syee wrote:
Anyone recenlty handle any building with Natioanal builders?  If so, if good experience, can you recomend the name of that builder? Thinking of purchasing a land and house package with them but heard some  real bad remarks.  Any opinions on better builders that do house and land packages?

Forget it, stay away with them. they are…[Read more]

Terryw wrote:
If you already own the land, then transferring to a trust could incur stamp duty again as well as possible CGT and legals fees etc.

Thanks Terry,What if I donate it to trust for free?Who should I talk to setup trust and mortgage for best tax efficiency and asset protection? accountant or lawyer or tax agent or financial planner?…[Read more]

Hutch wrote:
Why cant you get in contact with the original vendor and/or solicitor and explain the situation to them?You would be unlucky if their lawyers went broke and closed up shop as well.

Thanks Hutch, I will try that, lets see hopefully I am not that unlucky.thanksDM.

Qlds007 wrote:
Before we go down the structuring avenue:1) Switch the P & I repayments on your loan to interest only and if you want to increase the repayments on your PPOR by the savings.2) See if you current lender has a 100% offset account linked to your home loan. If so have all of your income now and future into this account and have the…[Read more]

Well I am, but only if you are in Melb.