Double Korona wrote:

I haven’t got much expertise in this topic. Could anyone help me with the following?

Happy to help (not an expert advice)

Double Korona wrote:

1) What is an unconditional settlement term?

It’s the time period between when all conditions set at the exchange has been fulfilled to the settlement.

Double Korona wrote:

2) What is considered a short settlement term?

Anything under 30 days, I guess.

Double Korona wrote:

3) What is the maximum settlement term that can be negotiated?

No such limit as far as I know. Vendor Finance, for example, can easily last even 25 years.

Double Korona wrote:

4) In a seller’s market, what tactics can be applied for delaying settlement?

Depends on the vendor’s needs, I guess. Solutions could be around higher purchase price and/or interest paid on balance.

Hope this helps?

Merry Xmas!
Ethan

Pete wrote:

Companies like that do exist but sorting the dirt from the diamonds can be difficult, especially for the inexperienced. I invest with a small developer here in Adelaide for a great rate of return, but the bad apples out there tend to tarnish the name of all development companies from what I’ve seen on here.

Agreed.

Guess that’s true for many industries/professions, though? Finding the right and good partners is probably the most important part of any process.

Wishing us all a GREAT weekend! :-)
Ethan

Ando wrote:

Hi guys,have had a look around and cant seem to find info on what i need to do to get this up and going? I would like to purchase a property and rent it out as “rent to own”.

Happy to help! :-)

Ando wrote:

Do i need to have any type of license etc?

I’m no lawyer but my understanding is that the answer depends on how many of those you intend to make? If it’s just 1-2 p/a, don’t think you should have an issue, but best consult with a lawyer, yeah

Ando wrote:

can i do the property management myself (rent collection, inspections etc)

Sure, why not?

Ando wrote:

and are there special contract pro-formas/terms my solicitor will need to draw the agreement – hoping to have everything organised before seeing him so it saves me money!

Yes, on top of the standard rent agreement and sales agreement, you will need to have an option (rent to buy) agreement. We got ours from a template online (paid under $100 for it I believe?)

Ando wrote:

Has anyone experienced good growth/return with these?

Yes, we did! :-)

Ando wrote:

my husband and i have been throwing the idea around of starting with a set price and increasing it by 5% each year so that the occupier has the option to purchase at anytime, but most of the tenants we will be aiming for will need to clear their credit history so it will be at the 3 or 5 year mark.

5% p/a is a nice appreciation and you do have a nice idea. We did ours around that price but they have to exercise it within 3 years. If they do it sooner, it’s the same price so our profits are locked-in. Do you have potential buyers already?

Ando wrote:

I would appreciate all and any help and directions to resources – the most i find when i “google” is SCAM or others offering property for sale via rent to buy. thanks in advance have an awesome day!

Happy to answer your queries. The more I answer, the more I learn (because someone, somewhere, somehow always corrects at least part of my answers ;-)

Hope this helps?

Cheers,
Ethan

David Siacci wrote:

It really is only 1 person telling us how bad LO’s are

Who is that?