watsonc wrote:
The problem is, someone would still own the land right?

The land 'Common Property' other than the Strata Units themselves would still be 'owned' by the Body Corporate/Owners Corporation. In some States a Title for the Common Property may not have even been issued. Really a non issue unless you wished to totaly redevelop (knock d…[Read more]

Usually the Banks just ask for confirmation that you do actually work there and also if Full time, Part time or Casual and also for how longWith the Privacy Act they can't ask for salary details (which is verified by the payslips that you'll need to provide) or if there are any 'performance issues' although they may ask if overtime is regular or o…[Read more]

If the Garage has remote access etc try the Body Corporate / Owners Corporation for the access key / remote. In need the Owners Corporation can chase the previous owner for the return of the access key but they should be able to provide you with a new one.For 'Common Items' like this they should have a control process in place (they probably…[Read more]

Basman wrote:
Thanks for the prompt reply!!How do i get a copy of the trust deed??Is it available from the ATO, or somewhere?

Unfortunitely, unless the Trust is involved in property matters in QLD, Trust Deeds are not usually registered or lodged anywhere (not ATO or ASIC etc) only your Husband and / or his Financial advisor or…[Read more]

I live in a top floor flat with a Flat roof and is noticably hotter on the hot days we get in Melbourne, our block is also approx 40 y.o. but due to low sales in the particular block no apparent difference in price is really apparentThe Block was 'Renovated' some 9 years ago and appart from the 2 downstairs units with courtyards the flats where…[Read more]

Mortgagees do have an obligation to sell properties under 'Mortgagees Auction' for the best possible price with any surplus after payout the debts + fees & charges to the mortgagor/owner. They can't just set the reserve for what the property owes themBanks will often obtain an independant Market Valuation to establish a fair price to cover th…[Read more]

Sure the "Bank" valuation maybe $500k (this maybe from a 3rd party registered valuer) however often the Banks will only base their LVR on the "Contract Price OR Valuation  whichever  is the lessor value.  Either way you appear to be buying at a bargain priceSo maybe best to check with your lender to confirm which 'value' they will use to ensure th…[Read more]

Terryw wrote:
Maybe up to a $1000 extra. I think there are some solicitors that advertise their specialty in this area. Perhaps the Law Society could point you in the direction of one.

This is about the figure that they will charge extra "Old Law' is not really that hard anyway if you have some experience.On the upside you maybe able to…[Read more]

Terryw wrote:
With a trust it is the trustee who is the legal title. The trust is not a separate legal entity and its name cannot go on title. It is just the full name or names of the trustee.eg If your trust is the Smith Family Trust with Simthy Pty Ltd as trustee, then the title needs to be in the name of Smithy Pty Ltd.If the trust is Smith…[Read more]

A verbal agreement is not worth the paper its written on, its only legaly binding if both parties want it to be

Terryw wrote:
Not sure what you mean by the DSR. Are you saying the bank is reducing the limit on your loan because of one stopping work?

DSR = Debt Security Ratio (LVR)(Long time Bank/Finance worker