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  • Profile photo of magicbuzzmagicbuzz
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    @magicbuzz
    Join Date: 2010
    Post Count: 4
    February 8, 2011 - 10:19 am

    Well, I signed the contract today and felt I had a pretty good handle on Outgoings. My searches have found outstanding council rates will be $4700 at settlement and body corporate levies will be at roughly $4500. No land tax, probate or any other things i could find. I made it a special condition that the Seller provide cheques for these amounts on settlement date – so that way I can make payment quickly rather than having to chase up whether some third party has done their job or not.

    I appreciate everyone’s comments and if anyone is interested in being my agent at the settlement in Brisbane, I’d be happy to have a chat. I’m in Townsville and have agreed to a settlement in Brisbane as both the bank and a lawyer friend advised that almost all mortgagees in possesion are settled in Brisbane.

    Profile photo of magicbuzzmagicbuzz
    Member
    @magicbuzz
    Join Date: 2010
    Post Count: 4
    February 1, 2011 - 4:10 am

    Because my time is flexible enough I can chase down all the details & searches, I am curious about the conveyancing process and it’s finer details, and I will likely end up with some spare cash in pocket that can go immediately into the mortage.

    Profile photo of magicbuzzmagicbuzz
    Member
    @magicbuzz
    Join Date: 2010
    Post Count: 4
    November 25, 2010 - 4:38 am

    I personally consider the P/E ratio pretty seriously whenever I buy and it is my opinion that prices have been overinflated for some time. The Irish property bubble article on Wikipedia is an interesting read http://en.wikipedia.org/wiki/Irish_property_bubble and Ireland is now facing an EU bailout. It is very interesting comparing their price increases and the associated factors with that in Australia.

    There is also a rather scrappy Wikipedia article on the Australian ‘bubble’ http://en.wikipedia.org/wiki/Australian_property_bubble. A lot of information but not clearly presented (perhaps hindsight will be 2020 :-)

    Where I am, the market is definitely softening and there are the occasional gobsmacking prices beginning to occur.

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