Hi DavidAsk a local REA whether this would increase the valuation.  Often a two way bathroom can be just about as valuable as a separate ensuite.  I know that is the case in my area.  If you are going to spend $10,000 to only have the house worth another $10,000 then it is not worth it, in my humble opinion.CheersK

Yes I got it too

I know an excellent builder in Adelaide.  PM me for details.CheersK

And no, there shouldn't be any costs to extend. 

A reasonable vendor would allow you an extension because of the Christmas break.  Just get your conveyancer to tell the vendor that there have been delays with the bank.  Your conveyancer should be aware of this because there will have been delays with everyone.The vendor would be silly to refuse an extension.  It will have been off the market si…[Read more]

Since her name is not on the property title, how could I make sure that she won't lose out (ie she'll at least get back the money she put in) should anything happen to me or if our relationship goes pear shaped?The best way to make sure that she won't lose out is to not try to shaft her if the relationship goes sour.  The only reason that she…[Read more]

Hi ducksterWhat page in the API is that story on?  I looked but couldn't find it.CheersK

Hi C2We only use Focus First National.  We did use a different agency when we first started out but they were a disaster and Focus have been excellent.  I wouldn't use anyone else.We did sell early and could have made more money but we put the profits straight back into property and have done quite well.  We now develop.  While if we had held on…[Read more]

The contract will set out whether "days" means just days or whether it means business days.If it is just "days" and you are not able to settle in that time, a reasonable vendor would allow an extension of time without penalty because of the Christmas period.  Even if the vendor doesn't allow an extension, if you aren't able to settle on that date…[Read more]

I had units all over the place.  Over the past few years I have sold out of Nightcliff, Coconut Grove, Moulden and Darwin Central.  I still have a few in Stuart Park.

Yes, I would agree with C2, except that undesirable tenants/neighbours aren't restricted to areas: they are all throughout Darwin.  For example, you can have a $1M house in Fannie Bay, right next to a Housing Trust block of flats.  I would definitely recommend physically inspecting any property before you buy it.  I have had a REA agent tell me of…[Read more]

Darwin all the way.  Inpex has just announced a $25billion gas plant will be built in Darwin starting in 2010 that will require 4000 workers.  That is an immediate 4% increase in population and there is already a very low vacancy rate.  Darwin is rapidly becoming a capital city with stores like Harbourtown being built.  Rents are increasing at a r…[Read more]

Hi eldrediI'm happy to go into more details if you want to PM me.  This post has rapidly gone off the subject and degenerated into what just about every post degenerates into these days – doom and gloom and market crashes.CheersK

It depends what is says in the contract.  Different states have different provisions.  In the NT for example, there is no penalty to the vendor if the vendor is not ready to settle.  However in some states I  know that the vendor has to pay default interest.If your contract says that you, as purchaser, are entitled to default interest because of…[Read more]

Its a block of flats.  That's the bank valuation. You are wrong you ignoramus.

I sell my positive cashflow property all the time.  It all depends on whether I can make more money by holding onto the property or by using the money to buy something that is going to make me more money.I bought a property 3 years ago for $540,000.  It currently rents for about $1200 per week.  I've got it on the market at the moment.  Why?  Beca…[Read more]

The mortgage brokers may correct me on this but I think that if you discharge a mortgage early, there are two lots of costs:1.   deferred establishment fee or early discharge fee, which is normally a percentage of the loan amount, 2.  Break costs, which is the difference between what the lender would have gotten if you had stayed in the con…[Read more]

Ouch!!

One teeny tiny problem I found with a hybrid trust recently – no banks would lend against it.  Apparently the banks are very nervous about hybrid trusts because the ATO has come out with some complex rulings about such trusts recently.  In the end I had to go with a non bank lender who have outrageous rates and early exit fees.This might have cha…[Read more]

Hi JulieIn reality, councils generally don't force the removal of unapproved alterations unless they are a flagrant and very obvious departure from regulations.  I have only heard of this happening once and in that situation the building was completely different to that approved by Council.  Even that is still ongoing and the owner has not yet b…[Read more]