Thanks again all – very useful info.

The properties are 2×1 units / villas in Westminster and Osborne Park respectively – within 5km of each other. 9 – 12km from Perth city.

Good to hear things seem to be selling quickly. Will interview a few agents and see how it feels.

Thanks gents – so should 3.3% be the standard rate and I should be able to negotiate them down from there, or any decent agent will be charging at least 3.3%?

Is there a good way to determine an agents worth/performance other than taking their word for it? Any advice on what to ask them to help make a decision on who to go with?

Thanks again,…[Read more]

Thanks Tom, that totally makes more sense to me now

Just so i make sure I now understand the concept, if I were required to put a $50k deposit down for the new home, I could effectively put $40k down in cash, and the additional $10k from the equity?

Thanks all, some great info here.

@TheFinanceShop: Im calculating the equity:

Property 1 – Worth ~$300k, owe $260k on it = $40k
Property 2 – Worth about $320k, owe $300k on it. = $20k
= $60k equity correct?

From what i have read banks will let me use 90% of that? So is that a straight $54k I can knock off a required deposit for the new…[Read more]