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okay, got a little off track their…
I sold a place (in Vic) for 330K 2 months ago, costs where;2% including GST to the Agent $6600.00 (a lot of agents will want around 3-3.2%, but work on that)
Solicitors Fee at Settlement was $475.00
all up was around $7000.00, I suggest you work off around 3% of your sale price.
Hope this helps.
Cheers,
DIMHi There,
I'm facing the same issue with a lot of land which I'm on selling, only way to aviod paying CTG, Stamp and Agent fees really is to purchase the "at signing of contracts" "and/or nominiee" then once the property settles you need to nominate the person who will be on the title.
Very hard to do, and can only really be done when dealing with someone you know.
Apart from that, crunch the agent down to a fair trade, save on ur CTG and pay your out goings such as stamp.
I've also looked into short term loans, i.e 1 week loans – not a lot of success their either, looks like you have to go through a normal lending to get the funds.
Hope this helps.
Cheers,
DIM.Hi All,
I'm also looking at morgage for about 4 weeks and don't want to go through the stuffing around of loan apps, fee, exit fees ect.
Any idea on how I can borrow money on a short term contact? Interest rate donesn't worry me too much as its only for 1 month.
In Victoria as well if that matters.
Cheers,
DIM1 Mill is a lot of money, with a lot of money comes a lot of risk.
I would rather buy 4 IP @ 250K rather then 1 @ 1 Mill. If all 4 rise 10% you make your 100K, if only 3 do, well you still make 75K.
Risk ratio, just dont really like putting all my eggs in the one basket i guess.
Cheers,
DIM.To Answer your question joelc,
Land was bought in Hastings, Victoria. My purchase price was 130K and the land size is 706s/m.
The developer is relisting his 6 lots of 600s/m at $140+ hence I did want to keep the lot.
But Even if i was to sell the land at 145 – the 3K stamp and 2% to the agent, after all the stuffing around and not to mention loan app fess, I would proabbly only make around 5-6K.
The agent believes he can relist the land at 145K at time to settlement without any issues. However, if anyone was interested in purchasing "and/or nominee" I would ask for 5K clear, and they can purchase the land at 130K.
Cheers,
DIM,Hi All,
Owning a IP in Frankston myself (just behind Monash Uni) I believe with all the recent and soon to be constructed infrastructure around Frankston, IP within that area are set to boom.
All round you can see are large land parcels which developers have already bought up! As for South Frankston, I believe personally it has already seen great increases. Give you can go down the road to Frankston (some where like Foot St) and buy something very similar but for a lot less, I would consider buying down the road. Place around the Monash area will only boom once the infrastructure and freeways go up.Frankston is still only one of the very few places which you can buy a decent property via decent returns and so close to the beach/freeways. I’m currently getting around 6.0% out of my IP, which really isn’t too bad considering I bought it 3 years ago off the plan.
Cheers,
DIMI would place a written offer but subject to review of the 32.
That way you have a offer on the table and also a way of backing out if you dont like what you see in the 32.
Cheers,
DIM.Hi Guys,
thanx for the info, thought it something along thoes line. Have to worth the math and see if its worth it.
Cheers,
DIM
