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In Victoria you will only need to pay 50% of total stamp duty payable. Normally a govt. approved valuer is appointed if property is not sold to a third party.
This was my situation a few years ago. If the A.T.O doesn't get you at the front door they will get you out the back door.This is a problem most first time investors have and unless you have accommodating relatives or friends the only way to save a reasonable deposit is with a few sacrifices in the short term but eventually with time it becomes a lot easier wtih accumulating equity. Time in the market is a sure fire way to success.
Thanks for your responses.
I have bought a few properties mainly in the outer eastern suburbs of Melbourne and have found most R.E. Agents to be reasonably helpful and accomodating to get a sale, but I think inner city agents seem to be a different breed maybe because they don't have to try so hard for a sale. The impression I got was take it or leave it.
Am I on my own here ?I painted my so called preprimed weatherboards approx. 3 years ago. Three sides of the quite large house has dulux paint that is as good as the day I painted it but the west facing , 2 story , all weatherboard side off the house which was painted with extra care is now peeling badly because of the primer failing in the hot sun.
I was told by Dulux that I would not have had this problem if I had painted directly onto unprimed boards which would have been cheaper.
Good luck.Thanks Elka,
Your suggestion sounds good.
Most of my properties are in the lower price bracket , so I don't think there would be much trouble selling them in a depressed market. Investing into super should be good soon with hopefully the stock market regaining some lost ground.
Any suggestions for an advisor would be appreciated.
