Frankston

Thanks guys,

Makes total sense. I need to do more research and number crunching but I can see the logic behind your answers.

Fredo – What is a DA?

Cheers,
Emmy

Thanks for the advice Trev. Makes sense

Emmy

HI Trev,Thanks so much for your advice..I've just had a very confusing conversation with somebody from the council. Basically she said that I can pay a draftsman to prepare the plans or can do them myself as the owner with the builder as long as I am willing to put my name on them. I've never heard of that option before. Have you? what are the…[Read more]

I also don't think I explained it properly. We would put in three seperate offers one by one. So if they said no to offer number one and asked for more money we would then come back with offer number two. If they came back and asked for more money again, we would give them offer number three. That's why it goes up 5k each time. I think I have…[Read more]

Michael 888 wrote:
If you are buying nearby to where you live, then I would sign a contract and attach a small token deposit of say 1,000 dollars to show you're serious. You can then also play clause amendment ping pong by altering price, terms and initialing. If from a distance and fax clause is stated in the contract then a similar scenario…[Read more]

Thanks  so much for your valuable advice Michael… I will give them until the close of business day from signing the contract of offer. I just had no idea on what a normal sunset clause was but if it's not too out of line to put such a tight one in there then I will.So if we want to make an offer do we tell them our first offer over the phone or…[Read more]

Thanks heaps guys. Your answers have been a great help.Will discuss portability with my broker.Emmy

Thanks guys,Excellent info as always.It makes sense that a hotspot is not so important if I am selling it 6 – 12 months later. But there is always the option of renting it out for 12 months after some basic renos and then selling it to get more captial growth? Or am I confusing things by giving myself too many options early on?I guess when I say…[Read more]

Ok that's a bit more like what I expected. Great to know. Thanks Mazstar Jac M, Do you think if the plans and permits cost anywhere from 25 – 40K that you would recoup that with the sale price of selling with plans permits? What if they wanted to bulid something a bit different? Are you narrowing your market by selling with plans?

Hi DWolfe,Thanks so much for your helpful info.. The costs were quite a bit higher than I thought they would be but I am still considering the property as it seems to tick a lot of boxes. I am a bit nervous as this is my first and I have only just started to look in Frankston (previously I was looking in Geelong but that is just as, if not more…[Read more]

No I'm afraid we aren't eligible as we sold our house last year. Am trying to figure out what to do with the capital we made from the sale. I want to stay where I am renting for now but can use it as my primary residence for 6 months so that I don't have to pay CGT once it is sold.So I guess it's just a matter of finding a bargain that can be done…[Read more]

Thanks for your suggestion. I do have a good accountant but he is currently away.I am engaged (defacto). We currently rent so we could register it as our primary residence and kind of move in while also keeping our rental. But we would only want to have it as our primary residence for the minimum amount of time – I think it was 6 months? If that…[Read more]