Forum Replies Created
Some questions I always ask are:
Who priced the property?
Why was the property given that price?
Why is the property being sold?When buying our last property we also mentioned that we would like to renovate and on sell quickly. Plus we were thinking of selling our other IP’s. (A big fat lie) But the fact that the sales agent thought that he would be selling this property again real soon and with the prospect of a couple more made him favour us in the negotiations.
Another tip is to offer an odd figure. Instead of $220,000 try $219,400. It looks to the seller that you’ve really tried to scrape together your last cent to buy their house.
Happy negotiations.
V
I beleive loopholes are left in on purpose. So all the fat cows sitting on top can use them. Then when common man finds out about them, thats when they get closed.
cheers
V
In WA there is no price limit. This weeks paper stated that 23 West Australians used the grant to buy houses worth over $1 million and another 422 used the money for houses between $500,000 and $1 million.
There is now a proposal for people buying a property worth more than $500,000 would not have access to the grant.
Cheers
V
Deals are going to turn up any where, at any time. So I look at everything.
Cheers
V
What is the actual advantage of buying a property in your childs name? Apart from receiving the $7,000. It’s only “legal” if you were to move in and have that property as your main residence.
Even as an investment property, how can a property in your childs name be an “investment to you”. You are no longer entitled to claim deductions, yet obviously you would be paying for the purchase. I don’t know too many 1 year olds making an income.
ok, Just to confirm. So we can not roll over our CGT in Australia.
So I’ve read one to many American books, which has confused me.
So we have to hold an investment property for 12 months to receive a 50% discount in the CGT.
But if a property is our principle place of residence we are CGT free. But how long must you reside in the property as your place of residence, before you can sell and not pay CGT? I have heard as little as three months. Is this correct?
ie; If I purchase a place for $200,000 which is under valued. Move in and then sell for $280,000 3 months later, would I have to pay CGT? What is the minimum time required?
Cheers.
I was always led to beleive that if you sell one investment property and rolled the funds straight back into another investment property you deferred paying Capital Gains Tax. Until such time that you actually sell up and use the funds for personal use.
