Thanks for your answer Richard.

You are very right. We have been given a glimmer of hope by one bank.

Thanks everyone

Sorry I am bit late to respond. I was hoping to get an email when someone responds but didn’t get any.

Thanks for all the information. I forgot to mention that construction is underway & finance is sorted out. Yes you guys are right the bank valued it atleast 20% less because of it being one title. Their logic is that they…[Read more]

Friends I was lucky not to buy in the area…I had a gut feeling that something was not right..feeling I had was that I was paying high price..also the prooerty I was going to buy was of very bad built quality. That is another thing all this boom there has resulted in a lot of substandard building.
Henry u are definatly paying a lot ….property i…[Read more]

I guess I read somewhere that the height can be 2200 from the lowest joist or whatever to floor but will still depend upon the council.

the other problem you will face will be Q100 if it is in Queensland(i suppose it is same in all QLD)

If Q100 kicks in then you have to raise the floor height & that will spell disaster………Gud Luck

If you r in QLD, From Insurance point of view you already own then because you need to have an insurance from the day of contract (in QLD atleast) So you can go to insurance at least & I think also to police.

I checked out the examples…………..in one picture they removed the overhead electric wires & the poles…………….For me that is a big NO NO……………that is cheating…….

Hi I am a new investor as well, but I think after doing a lot of research, I would say you will be better off renting your own house for tax purposes & then keeping the rent from house-mates to pay the mortgage is best situation but only catch is that U get hit by CGT.

hey Guys

I am gonna get my deposit back, heard from the agent, they are releasing the deposit on vendor’s instructions.

So what actually happened?????

I think the agent played a role in this whole drama,

I am new to this game & had a pre-approved finance, He knew it & (My assumptions only) that he told vendor to refuse my reasoning for…[Read more]

Yes, the property is in QLD .

I think that is good idea to exit on finance condition. I will check this with my solicitor,

By the way my solicitor has same views that my case is very strong. BUT THEY ARE LAWYERS right!!!!!!

Thanks for the reply……

Thanks for that & Yes I will posting the updates

Yes, I am going to contact the solicitor(actually my conveyancer is also a good solicitor as well).

This is not one drip, the house had some internal paint problems which I knew & i was okay with that. But Since I have seen the pictures of underneath the house which shows me a big pothole, un-even…[Read more]

DWolfe

Thanks for the comment, I check my contract & it says ” if the report is unsatisfactory to Buyer, The buyer must act reasonably.”

So one thing is clear that I can terminate, only issue is weather I am being reasonable or not.

What are your views on this, is it reasonable for me to terminate contract for a 3-year old house whcih has…[Read more]