Forum Replies Created
So what’s wrong with a bit of “free advertising”??? And anyway, the “sold” sign is not just about free advertising for the selling agents, it is also there to alert people to fact that the property is no longer available, thus saving them their time and the bother of enquiry after it. Personally, if I were an agent and I had to answer upteen enquiries on a property that had been sold almost a month ago, I’d be pretty damn tired of it after a while.
And besides, it doesn’t hurt anyone??? So get over it Yack!!! [offtopic]
Hey Snowy,
I guess you can’t really find that out until you ask the question. However, if anyone offers to help then that offer should IMO be honoured regardless of the nature of questioning. Sure there are some things that your mentor may not be versed on, but that does not give him/her the right to treat you (as you say) like “an idiot” NO ONE deserves that!!!
Don’t forget you can always ask us here, after all, there are heaps of people here that can at least shed some light on any questions; and don’t worry some of the answers can be as silly as the questions but then that’s half the fun!!![grin]
Good luck in your search. [biggrin]
Cheers,
Jo
Originally posted by Mortgage Hunter:
Perhaps there are differences between states. Is it sold whilst the clauses are still in force? ie contract is conditional on finance?Quite possibly Simon,
Although I have bought interstate properties in the past I can’t recall the finer details as to WHEN exactly the “sold” sign was posted (come to think of it, I don’t think I ever really cared too much to notice). [blush2]
I know in Victoria it is considered “SOLD” upon signing the contract of sale (whilst it is “conditional”) and any further enquirers are told verbally that it is so. However the actual “SOLD” sign is not posted until the 10% deposit is paid over (or the contract becomes “unconditional”).
As for other states, perhaps REAs outside Victoria could answer more accurately.[biggrin]
Cheers,
Jo
Hi Maniyak,
The “and/or nominee” part of the contract of sale is used as a temporary measure until settlement. Basically you can put your name on the provided space, and just prior to settlement change it into both names, or just one. You can change your mind upteen times in the interim, however once the settlement is complete, the nominated name will be that which appears on the Certificate of Title.
As for NSW experience, I’ll turn the floor over to some of my fellow northerners to answer, I’m from down south (Victoria) or a “Mexican” as they call us, isn’t it??? [tongue]
Cheers,
Jo
Originally posted by Snowy:
But the question is how do you find a person that is willing to help and give you the time of day?What do you mean Snowy??? You have our undivided attention right at this moment!!! [biggrin]
Why settle for just one mentor, when there is such a vast array of experience, skill levels and different types of investors each with their own individual style than can help you, and that you can choose from!!! [thumbsupanim]
Cheers,
Jo
Yes Simon,
It is what I am saying. That is, a “sold” sign will not be posted across the advertising board until the initial (sale price) deposit has been paid over to the selling agent.
Cheers,
Jo
Splitting hairs again Yack??
Okay, fine I’ll play!!! (sigh)
Yes he is OBLIGATED as once the contract of sale has been accepted by both vendor and purchaser the property is deemed SOLD and for all intents and purposes, is required to be made public if a public board or advertisement of the property is displayed.
I am not an agent Yack, however I have discussed this will solicitors and was informed that the “SOLD” banner/sign cannot be put onto a board until finance has been approved and a deposit has been taken.
If you wish to find exact legislation, I suggest you do a search of the legal obligation, because personally, I don’t feel the need to defend agents practices. I have merely passed on information as was given to me by a legal professional, anything less is just speculation.
As a point of interest, here is the Code of Practice as per the REIV; it mentions sold signage Section 9(h) however it does not conclusively stipulate enforceable or breech of any laws if the practice is not strictly adhered to. http://www.reiv.com.au/_uploads/98_rulesOfPractice.pdf
Cheers,
Jo
Originally posted by shaztaz:Hi Zippys,
You’re not the one looking like an idiot[biggrin]
I think Brahms is referring to Derivex when he/she types ‘D’. Who knows, except Brahms.[confused2]
Brahms posts are usually cryptic, critical, or just plain crap. [thumbsdownanim
I really don’t know why he/she bothers.
Regards,Sharon
Sharon,
I think it best not to judge a man you don’t know (btw, he is male) albeit a tad on the cryptic side at times, his posts have been very helpful to many people. He has a warped sense of humour at times (as do I on occasions) but take it from me, the man is very knowledgeable and you would do well to heed some of his advice.
Cheers,
Jo
Originally posted by eeshole:
I too am looking for a small commercial loan on a property worth 220k. I have spoken to a few brokers, and the lenders that always get mentioned are ING and IMB. Some brokers tell me that ING won’t finance anything below 300k, others say that if I refinance my home loan with them they will do the commercial loan with it. They are advertising 7.3% variable, 7.55% 5yr fixed, less .05% if you pay interest in advance.I was told that IMB will look at a smaller commercial loan. Variable rate was around 7.5%. 3yr fixed was around 7.65% or thereabouts. The broker told me that because it’s such a small loan he gets no commission from IMB and he would have to charge me a brokerage fee of .75% of loan amount.
The other thing you could try is the Public Trustees Dept. They do 7.5% 3 yr fixed and 7.65% 5 yr fixed. Do a google search you should find them.
Sorry for asking again eeshole, but are you not only 16 years old?? [blink]
Originally posted by eeshole:
I have just had an offer accepted on my 1st IP. Now getting paperwork organised and looking for finance.Are you using a guarantor eeshole??? I mean, I thought you were only 16 years old.[blink]
Oh Woody, you kill me!!! You is just too funny for words sweetie!!! [laugh4][laugh4][laugh4]
Feast,
Be careful, I’m sure you will find a great deal of info on them if you do a search of the net (as Derek suggested). Although they may be reputable, bear in mind, Southbank has a surplus of high rise serviced apartments hence CG will be lessened and vacancy rates maximised.
Melbourne apartments are aplenty and as such I would not be buying into them for the present time. You can get equally good returns, albeit not “guaranteed” in other areas, lower vacancy rates and definitely with greater CG prospects.
Cheers,
Jo
Originally posted by DD:
I have had three(yes first one failed)knee recos and since had 9 arthroscopes on both knees. Ive been told by someone its a failure to accept authority to have knee problems, you go girl!!! Leave the rest behind.[biggrin]Ouch!!! [shocked] That’s awesome – 3 recos!!! [shocked] Thanks for that DD, I plan too [winking] I never say “can’t do” even from my hospital bed I was phone bidding on an Auction (which was passed in btw). I am a great believer that success is not just about hard work (that’s the obvious part) it’s about mental agility and attitude; without the right combination you may make money, but you will never be successful!!! [tongue] Keep up the good work DD; I know YOU have the stuff that will outstrip the likes of me!!! [thumbsupanim]
Cheers,
Jo
Originally posted by Johnny1:
Also thanks again to “Monopoly” for her response.
I would however be concerned if you really were a psychologist [confused2].
YOU should be, most minds such as yours tend to be apprenhsive (to say the least) of those in my profession.[biggrin]
You sound like me – a 17 year old mind in a middle-aged body. Terrible – isn’t it? HA HA
(BTW…you should be so lucky to be of the same callibre as DD).I also believe that you’ve managed to wander too far away from the essence of my original topic.
You mean because I didn’t buy into your naysaying, and tried to make light of your rhetorical doom and gloom. In reality Johnny, I’m actually pleased you have that attitude / outlook; it makes investing sooooooooo much more profitable for the rest of us. After all, I didn’t earn a 6 figure passive income off the backs of go-getters, so really THANK YOU.[laugh4][laugh4]Oh what the heck, although you have continued to have a dig at my light hearted response to your original (“I don’t mean it to sound negative”) post, I will tell you MY strategy, and that is to invest as much as possible in a market that I am confident will survive. Sure it will have its down time, all markets do, but it will pick up eventually but it may take many years. I know “bricks & mortar” and although I don’t expect the immediate voluminus returns of yesteryear, I am confident that high/good returns are not a thing of the past. If you don’t feel comfortable with property (and I say this with no sarcasm intended) you may be better off re-assessing your investment strategies and preferred vehicles, because really, making money is for many a “fumbling through” exercise, but for the serious players, creating massive wealth is about CONFIDENCE (but I’m sure I have already said this somewhere before)[blink]
Good luck, and happy investing!!!
No he is not obligated to do this, he is however obligated to put a “sold” sticker up once the full deposit money is paid.
Originally posted by Johnny1:
It’s obvious that “Monopoly” doesn’t “understand fully” my situation because I’ve got arthritis in the hands – not the legs. I could also probably give you a very good “run for your money”.Firstly, I am a psychologist not a psychic; I don’t know (nor care) where your arthritis is, and before you gasp with horror….I am empathetic of arthritis sufferers generally, I for one should be, I have osteo-arthritis myself, and having already had one total hip replacement and requiring a full knee reconstruction within the next 12-18 months as the result of a car accident and past sports injuries, I do understand; so please spare me the violins!!! [wacko]
As for giving me a “run for (my) money” in depends in what sense Sir, but I daresay you more than likely could, perhaps even out running me in many ways, especially physically as although I go for a run every morning to keep the joints pilant, I am hardly able to accelerate to the same speeds as in my youth!!! [glum2]
As to my comment re your “understanding fully” it is merely my way of saying, confidence in ANY market will lessen your anxiety. I make no apologies if that does not sit well with you, but it is (IMO) fact, that if you do your homework and exercise a little commonsense ANY mistake can be remedied in the long run. Research and educate yourself as much as possible, stay positive, by all means look to the past, verse yourself with the present, and above all keep an open mind about the future; it’s that simple. [whistle]
Good-day to you Sir, and FYI I am of the female gender (as per my avatar)!! [kiss]
Jo
Originally posted by Johnny1:
This might sound like a negative posting but it wasn’t my intention to make it so.
Hmmm…posting the same thread 3 times….[blink] nahhhh that’s not negative, it’s just making damn sure no one misses your message which btw is not heralding any new fears that haven’t been painfully repeated in EVERY forum and by EVERY novice!!![blush2][blush2]Why worry about a market that you obviously don’t understand fully. There are inevitably highs and lows with ANY market, any investment vehicle; it’s just a fact of life (sorry, business rather).
My advice, do what you feel is right for you; there is no right or wrong way, just different strokes for different folk, and just how different will depend on your goals, preferences and risk tolerance.
Even though I have arthriris – I’m always willing to be flexible – HA HA. [biggrin] [biggrin]
Oh well guess you won’t be able to RUN then, but hey, you should be able to handle a very very fast walk, maybe even work up a sweat!!! [laugh4][laugh4][laugh4]Enjoy!!! [biggrin]
Cheers,
Jo
Originally posted by TokyoJoe:
They are now very much a Melbourne icon, but I was questioning is it really worth the money if you can’t own the land, or can you? Could a change in laws see you loose your invest? Of course, I doubt this would happen as there are probably a lot of influential people who own these places.Do you own the land when you buy into a commercial business?? Or what if you buy a caravan and it is within a caravan complex?? Did you know you don’t own your front nature strip, you can’t plant anything on it and councils demand you mow it or they will do it for you and bill you accordingly??!! No you don’t own the land, beach boxes are generally strategically positioned on sand, and unless you’re planning to buy the entire beach, all you doing is parking there!!!
There are rules and regulations associated with beach boxes; I don’t have them at my fingertips atm sorry, but I believe it is not as simple as shifting the sand from underneath you!!! Yes SOME “influential” (for want of a better word) and some not so influential people own them but they do so predominantly for leisure, convenience and storage (ie. a place to change, keep their swimming gear, surf boards etc) and the ironic thing about it all, some of these people actually own beachfront properties!!!
Do a search of the net on beach boxes and you will find that ownership is also popular with historians; those who own them because of their of nostalgic value. Try this for starters:
http://www.bayside.vic.gov.au/bathing_boxes.htmWoodsman,
You’re correct, there was a woman who sold her Brighton beach box a couple of years ago (on Auction Squad) for $150K.[biggrin]
Cheers,
Jo
Originally posted by lifeX:
can I ask what your thinking when you came up with your post?Not a whole lot LifeX, can’t you tell?? [eh][blink] [eh] It is probably the most ignorant post I have read in the time I have been here; anyone who knows anything about the beach culture of this country, and the history, purpose and advantages of owning a beach box (in places such as Brighton) will know the value associated with such investments and would never make a mockery of same!!!
TokyoJoe, next time you slag off about something you obviously know nothing about, it might pay to do a little research to support your argument, otherwise you stand to look (as you have done herewith) quite foolish.[blush2]
Originally posted by LizardKing:
Next time any of you sign a Contract for Offer of Acceptance, do so only after you have checked all and insert as Special Conditions if you think something needs fixing. It could also give you bargaining power.Yes Sir-ee, I’ll be sure to do that; thanks for the heads up!!! [grin]
