Get your conveyancer to contact the owner's conveyancer and remind them that settlement is due on 7th with vacant possession and at the moment there is crap everywhere.  This might be enough to remind the owner that it all needs to be cleared up.If the property is cleared up by 7th, you have two options:1.  Threaten to rescind the contract due t…[Read more]

If you are talking about White Knight tile paint then it is no good on floors.  It rubs off quite quickly.  Also, I was very unsatisfied with the result even on the walls.  I think it would be OK if you were happy to sell the property and not care about what happens to it after you don't own it, but if you want to sell a quality product, then, in…[Read more]

Scott No Mates is bang on the money.  However, copyright laws are pretty strict and potentially even using the same architect would be considered a breach of copyright because to avoid copyright the plans would have to be SUBSTANTIALLY different.  Arguably, if the vendors keep the property and use the same architect, that architect wouldn't be a…[Read more]

Some friends of mine were profiled in a Reno King magazine article not so long ago.  While they made a profit doing what they did, during the editing of the article, all buying costs, holding costs and selling costs and taxes were removed from their figures so the profit shown in the article was FAR higher to the actual profit.I recently bought a…[Read more]

Slightly off the point, but to the best of my knowledge, adverse possession does not exist in Australia any more.CheersK

You can get private finance, but you will pay through the nose.  I know of a woman who is lending from people who have spare case at the rate of 50% pa.Those sorts of deals are done through a solicitor.CheersK

I agree.  The only time stamp duty is not payable when transferred within the family is when there is a marital breakup and subsequent division of assets, or when there is a death.CheersK

Don't do it.  The only reason I can think for requiring this sort of statement is so the pest inspector can say "subject to the truth of the vendor's disclaimer that there has not been any pest activity, this property does not have any pest issues".  What will then happen is that if there is a problem down the track, the pest inspector can say &…[Read more]

Um, because getting the BEST PRICE possible means actually securing the property.  Yes, it is about being fair, but the vendor may not have wanted the hassle of offers and counter offers and negotiations.  If the vendor had wanted an auction, he/she would have taken the property to auction.If the best offer apart from yours was $5,000 less, you w…[Read more]

I don't think that you have any legal obligation to allow the tenant to break the lease without penalty.  However, I expect that the tenant will be able to take you to the Residential Tenancies Tribunal and be allowed to break the lease on "financial hardship" grounds.Is the rental market tight in your area?  Would it be easy to secure another t…[Read more]

Hi wealthyjvdFirstly I am going to defend the Real Estate Agent.  He/She was not being a prick at all.  Often,  if there is a lot of interest in a property, REAs will tell people to make their best offer.  It is a very common practice in the industry.  You didn't make your best offer, especially if you now say that you would have paid more.  You s…[Read more]

Clause 2.1.6 defines the default rate as being 5 percentage points above the current RBA cash rate.  I think that the current cash rate is 3%, which makes the default rate 8%.CheersK

I'd argue that she doesn't have an equitable interest in the property.  All she did was lend someone money.  She was not a JV partner.  If I lend someone money and they then go and buy a car it doesn't mean that I have an equitable interest in that car.   All I have is someone who owes me money.The JV partner, who put the money in, has an equi…[Read more]

Well done.  Sounds like the best case scenario.I assume the purchaser was having money problems and hoping you would just let it slide, but on communication with your conveyancer, realised that this was not going to happen.  I think he/she realised that it was far cheaper to pay the penalties than to have you terminate the contract and be up for a…[Read more]

Hi thereJust wondering why you are enclosing a deposit cheque with an offer.  Deposits aren't payable until there is a binding contract and, depending on the state, cooling off has expired.CheersK

parraboy wrote:
Can someone clarify it for me please before I make a fool of myself with my accountant next month.

Make a fool of yourself with your accountant.  That's exactly what they are there for.  I make a fool of myself with my accountant on a regular basis (and pay a decent price for the privilege).  Having said that, my accountant sa…[Read more]

I have been away from the forum for a couple of weeks and have just read the spudway thread.Emma, you are a very brave woman putting this post on the forum!Good luck.  I hope you get finance.CheersK

Terminate the contract.  As well as keeping the deposit, you can sue them for any further losses that you incur in reselling the property.   If for example, the sale price is $500,000 and you can only resell it for $400,000, you can sue the purchaser for the $100,000 shortfall as well as extra advertising costs etc.Yes they can slap a caveat on th…[Read more]

The people who run these seminars are pretty savvy business people.  If you want to get a refund, you will have to fill out stacks of paperwork and in the meantime the people behind the seminars will be putting their more than adequate sales skills to work convincing you that the course was worthwhile.  Besides, the majority of people who are d…[Read more]

Except for buying off the plan from developers I have never paid more than a $5000 deposit.  $1000 is the norm for me.Just be wary about what you stand to lose if you don't proceed with the purchase.  In most states, the contract (or the underlying legislation) will state that if you default and don't proceed with the purchase then the vendor is e…[Read more]