Forum Replies Created
Putting pen to paper can often be the hardest part. Why not get creative, pick up a big coloured A1 bit of cardboard from the newsagents, some highlighters/permanent markers/coloured pens and "draw" your plan out. A little creative female help can often be good for the not-so-creative males (or vice versa). Then stick it next to your bedroom door so you see it every single morning!
Hardest part can be getting it past the vendors solicitor not necessarily the vendor
Terry,
What about if I renovate while it is PPOR then convert to IP down the track?
Thanks sapphire. <moderator: delete language>. I have spoken to consumer affairs this morning regarding the issue and they have been very helpful. They said that we should try and sort it out between ourselves and the property manager and to tell her that we are going to the Commissioner of Tennancies about it. That usually gets them into gear and if not then follow through with it. She said she believed that our application to the commissioner would be strong so see how we go…
thanks for the comments. Any clauses to add to stop us being gazumped.?
The other issue is we want to get exchanged on something before the end of the year to save on the stamp duty!
I can understand the <300k listing to get people that are close to that mark on budget to see it in their searches. That is around my budget and I always include up to 350k when I do searches.
In our offer we've said that it is subject to bank valuation being to our satisfaction, is this enough to allow us to re-neg price if the valuation price is less than the agreed purchase price?
Licence to occupy, thanks Terry.
We are looking at 2 places in the same street that are sitting there empty. We are moving back to NSW (where the houses are) in about 2 weeks and only have accomodation lined up with family so hopefully we can utilise this clause and move in before Christmas. This gives us somewhere to live and the vendor some extra cash flow over the silly season, wins all round!
It would be a good chance to get everything measured and quoted in this period too.Yea dodgey but better than nothing
google "sell house by owner" there a few places you can list on…or good old gumtree.com.au
Try this:
http://www.dse.vic.gov.au/property-titles-and-maps/land-titles-homeAlso do a check on the Dial Before You Dig you should have the data within 48 hours. It will show you any other services in the area, these will be rough alignments so all would need to be potholed/electronically located.
Yes I'm thinking of offering asking price if this is the case. The place was on the market from about May then went to auction in September and has been dropping in asking price ever since then.
Ok I’ve just found out that the place has already been repossessed so the bank would be trying to clear the debt. They owner purchased in 2007 so I’m assuming they would have only paid about 10k off the principal so the asking price is probably close to the debt owed on the property. Is that would you all would make of it? Also are there any other factors that come into play other than price in this instance? I’m assuming a standard settlement and a price that would cover the debt would be what the bank is really after? Any thoughts?
I have a relative inspecting the property this afternoon on my behalf. If she gives it the all clear I plan to email the agent my offer first thing on Thrusday morning. In regards to the numerous clauses that I have seen floating around the forums, is it worth putting them into my initial offer? We are wary of all the small things that can go wrong but should they just be covered in the contract once my solicitor has the contract? My offer I am going to put forward will be define price and settlement length, do I need to mention subject to B&P, finance, etc in the initial offer….?
Michael,
What issues can you see with 30 day settlement for FHO?
Thanks Den, I have shot you a message on your website.
Thanks everyone else for the commentsHi Jamie,
Bank is CBA, I'll have a chat to him tomorrow and see how quick I can get the valuation done, I remember him saying they are pretty quick with valuations.
I am still trying to figure out how to put my offer together. The property is does not show the address on any of the listing so I can't tell if the price has been reduced over time, however I did find an old add saying it was going to auction in mid September so it obviously didn't sell then. The agent did tell me that he has another interested buyer but whether he's pulling my leg or not to hurry me up I don't know. I'm thinking I'll go in at close to asking price as I believe it is a good buy at present, plus my pregnant mrs is in love with it!
Let you know how I go
Yea solicitor is really on the ball, although it's now after COB where she is and still business hours where I am so I thought why not put the question to masses on here. I will chat to her tomorrow re: speeding the B+P up too cheers
Thanks Michael. What would be the quickest settlement period in a property transaction that I could put into the offer? The vendor is selling at a loss and I would like to sweeten the deal for them by settling asap?
My broker has just clarified that the date of exchange must be before the end of the year and not the settlement date!
