Trying to negotiate the property price down will be hard becuase the vendors will not want to move unless we threaten to pull out, so the agent may have to give up on some commission but even then that wouldnt be a great deal of $$$ some advice from a solicitor might be in order, short of going in there myself and laying it on the table, but with…[Read more]

The agent is the owner  dont know where i stand legally but i'd say could be good grounds for negotiation, or further action.

if they could enforce 10% of the purchase price on us for unresonable cause in terminating the contract then we would just go ahead and buy the property it would cost less to fix it than pay 10%. Basically if we can walk from the contract then you never know the vendors may obligue and discount the property enough for us to feel comfortable in…[Read more]

thanks for the responses guys, on the contract it just says subject to building and pest inspection with no date, there are various problems with the house. The report was done on the 2/1/08 so it would be fair  and reasonable to say that we have just recieved quotes on some of the defects and we cannot afford to fix them. Even if the vendor was…[Read more]

My other half wouldnt qualify for the fhog i have spoken to my bank manager and i can get the loan in my own name and the title signed in my name only so 100% tax deductible we plan on living in the property before we sell say in 3-5 years time so CGT sholdnt be an issue.

Thanks for the responses everyone, it is more than likely that we will end up renovating the proerty after 3 or so years then moving in ourselves so we wouldnt pay CGT upon the sale of the property, theres know way it will be positive cashflow in 3 years i can assure you of that. So i'm thinking i push the bank to put the property in my name only…[Read more]

Hi guys i'm currently looking at buying in the Footscray West area has anyone bought here got any experience knowledge of footscray i'm finding it difficult to work out land value anyone got an idea??

Thanks for the reply Steve if the bank wont let my partner co guarentee the loan and we both have to go on the title is there any way of splitting the rental loss so 99% of it goes to me and 1% to my partner?

We do not have kids, the property will be negatively geared likelyhood of being sued is unlikely. (Touch wood), with tennants in common  does this structure have to be set up by my accountant and how much does it usely cost.

Thanks for the replies Carlin and Steve, i will get some quotes ASAP the house is unoccupied and the vendor has never lived in it so i dont think they will want to fix any of the problems so a reduction in price will hopefully resolve the issues. The house also has rubbish left through out the property old fridge, old bed, clothes, food in the…[Read more]

The above figures have been done based on selling upon completion

Ring your local council

Not really a great deal for you having to put in $54,000 of your own money which will not be working for you at all how long do you expect someone to pay off $54000???.A property rap would be a better idea, but like propertypower said its a strong market you should be able to sell it if your price is reasonable.

Interesting stuff guys i'm no economist, my understanding of the economy is somewhat lacking, which is why i'm not so sure how things are goin to pan out over the next five years. The property boom of 99 to 2003 was said to lead to a massive bust in the real estate market but it didnt,  so things went quite for a bit then since the start of this…[Read more]

I'm looking at building in the western side of Melbourne

Thanks guys for that info, i've spoken to a company who design draft and construct, the guy i spoke to said they dont really build spec homes on subdivided lots due to council regs more often than not things need to be changed, but this sounds to me like it would cost more to build, compared to a spec home.Has anyone had experiences with…[Read more]

It might have been vacant for six months

were in the west are you building ??

hey locco i'm currently looking for a block to sub divide what would an average 3 bed 2 bath single story be worth to build?

I will have to keep the old implied easement trick in mind so how do you know 100% the piece of land you want to develop does or dosent have easements or overlays that could affect your development?? Usually the easements are run on along the fence line.