What state are you in?  In some states it is written into the contract that the purchaser can charge default interest if the vendor is late settling.  In other states the purchaser has no right.In your solicitor's defence, a lawyer cannot possibly be expected to foresee every single little possibility and have an arrangement for everything out o…[Read more]

All the strata fees, water levy, council etc will be adjusted in the settlement statement.  This means that on the date of settlement you will pay those fees up to the date of settlement.  The vendor won't be chasing you at the end of the year for payment.It is a bit harsh that your solicitor didn't explain this to you.  However, it is likely th…[Read more]

I think with termites it is something that is worth spending a few hundred dollars and getting a pest inspector out.  Arguably, buying a property with a termite problem could cost you tens of thousands of dollars.  I just don't think it worth the risk trying to work out yourself what, if any damage has been done.

While the pest inspector is t…[Read more]

I think with termites it is something that is worth spending a few hundred dollars and getting a pest inspector out.  Arguably, buying a property with a termite problem could cost you tens of thousands of dollars.  I just don't think it worth the risk trying to work out yourself what, if any damage has been done.While the pest inspector is t…[Read more]

smy_lee wrote:
 I am sorry to be  a pain can anyone help me structure one?

I think you are going to have to just bite the bullet and get a lawyer.  If you try to draft one yourself you will probably get it wrong and it will be an invalid default notice which will have the same effect as not issuing a default notice at all.  There are so man…[Read more]

I agree.  Go and see a lawyer. 

Go and see a solicitor.  You may be able to make a claim on the builder's insurance.CheersK

Or offer better terms?  Can you go unconditional?  Do you need to get finance approval?  Can you find someone who has also bought a unit in the complex recently that you can get building, pest etc inspections from and therefore not have your contract subject to various inspections?Terms are often just as important as the price.CheersK

You could always put the offer to the vendor.  You never know what the vendor may accept.You could perhaps do a 6 month settlement and take over the lease in two of the units while you renovate them.  That way the vendor will still get ongoing rent.  Then you could take over the lease in the remaining units and do the same thing to them.I doubt th…[Read more]

Definitely something you need to get solid legal advice on.I am a lawyer myself and I would never draw up my own contract.  Or set up my own trusts and companies for that matter.  Or do my own conveyancing.That's what lawyers are for.  I am continually astonished at the amount of people who try to do their own legal documents and just about al…[Read more]

Read the two posts on renovating beneath yours.  They both have red envelopes next to them.  They should give you all the answers you are looking for.CheersK

Have a look at the standard form of contract.  Does it say that the purchaser can charge interest if the vendor is late?  In some states the purchaser can claim default interest and in some they can't.I'm just going to get on my soapbox for a minute here though.  Do you know the reason for the delay?  Is it the vendor's fault or the bank's fau…[Read more]

Here is my understanding of the way it works.SD concessions for first home buyers and the FHOG are not interlinked.  With the FHOG you must move in within a certain period of time (you may well be right you when you say that you must live there for a minumum of 6 months within the first 12 months).  However you do not have to move in immediately a…[Read more]

Hey DanielIf partners are not living together prior to applying for the FHOG then both partners would each be entitled to it.  Your partner's ex boss was correct in that he said that each partner had to effectively be living separate lives.The difference with anon is that she is already living with her partner, as you were with yours.  Congratus o…[Read more]

Hi MichaelI'm hearing you!!!  I won't do anything for less than a 25% return in this market.  One of my vendors is simply being irrational.  They have been led to believe by one REA that their property is worth about 30% more than it is worth.  At the price they want, a developer will lose $50,000 in the deal after costs!  I can't negotiate with…[Read more]

KeikoTo do this, anon would have to be able to prove that they were split up at the time.  Her boyfriend would have to change his mailing address.  If some bills are paid in his name, he would have to cancel that account and set up an account at his new address.  Credit card details would have to be changed.  If the lease is in both their nam…[Read more]

Hi PaullieMy theory is that even though prices have at best stabilised, the vendors appear to be the last ones to realise this.  In this past week, I have made two offers on properties, both at market value (one after an independent valuation) and both vendors have rejected the offers, wanting a completely unrealistic price.  Both properties are d…[Read more]

My point was, when all you have to do is declare something on a document (your relationship status, your income level etc) you can really write down whatever you want.  However, if you write something that isn't true then it is fraudulent.Sorry Daniellee, I have to disagree with you.  If anon writes on the FHOG form that she is not in a defacto r…[Read more]

keiko wrote:
who would no if you are boy and girl freind

Who really knows what your income is when you enter into a low doc/no doc loan?  Does the ATO really know what your income is when you are self employed?  But declaring something that isn't true on a legal document is committing fraud and if you get caught, you will pay the price.When c…[Read more]

You could apply to the Residential Tenancies Tribunal to have the tenancy terminated on hardship grounds.  I imagine that if you told the Tribunal that you received legal advice to the effect that you could move interstate, the Tribunal would look on that sympathetically.Having said that, what kind of legal advice did you get?  Did you retain a l…[Read more]