Forum Replies Created
Hey the worst that can happen is you will feel stupid! That will pass in a few minutes. Happens to me all the time but I am getting used to it!
I am hearing stories from clients that now the market has changed peple are accepting low offers. My wife’s girlfriend saw an apartment for $370K. The agent rang and beged for an offer as the vendor was OS. She wasn’t serious so said $299K – she got it immediately.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I just say that I am thinking of buying the house next door and what can you tell me about the neighbourhood. Once people start chatting is hard to stop them. Everyone likes to be an expert on something and the neighbours are always expert on the neighbourhood!
I have found out reasons for selling, problems with the home, future developents etc etc
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Don’t be too shy to knock on the neighbours door for a chat – you can find out all sorts of useful stuff doing that.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
All the details of the FHOG are outlined here:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Please email or post any specific questions.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
For $5000 I doubt it is worth the effort. Have them try a different broker, see if they can borrow $5000 on their credit card or from family. I imagine that anyone that can buy a home can raise another $5000 if their heart is set on it.
Maybe even reduce the price by $2000 if they can find $3000 – must be worth avoiding the legal fees to set up vendor finance?
Just some food for thought.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I am guessing that their broker is planning to have the place revalued after 3 moths and is hoping for enough of a equity rise that they can borrow the remainder and still keep the LVR under 85%.
Put then onto a decent broker if they still want 90%[biggrin]
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Maybe the average house changes owners every three years – you are probably right mate!!
Even more reason why age shouldn’t matter!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Kaye,
The average loan lasts 7 years. This is because people sell up, refinance or repay the debt.
Should the mortgagee pass away then the mortgage will be dealt with by the estate – regardless of the age of the deceased.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Poeple often remind me on the days of high interest rates.
Rembemer back then the average loan was under $100K.
If rates go up that high again with the average loan now 3 times as high then I think the fallout would be huge. I can’t imagine any government watching so many homeowners (voters) in places like Sydney getting kicked out of their homes. The plunge in values alongside would also be frightening.
So I think high rates today would be considered to be perhaps around the 10% mark.
Just some rambling thoughts here – no professional advice intended!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have a similar arrangement with my tenants. If they pay their rent on time, keep the place in good repair etc then I allow them to live there hassle free.
If they stop doing any of the above then no more Mr Nice Guy.
Works for me.
[biggrin]
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The answers are here:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Wow – my experience is the opposite! I have four medical students and a doctor in mine. Yes a doctor just moved to Australia to do some training (the med students love having him there!).
The place is always spotless and I have had no repairs other than a dripping tap etc.
I am in there every fortnight as I do the lawns and “pop in for a glass of water and use the bathroom” each time so I have good cntrol over the place.
This can be a very positive or negative experience – is up to you!
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
There are several – any decent broker should be able to help you here.
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Well done mate – the NSW ones are very simple to use.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Several ways. But make sure you consider carefully before choosing. Some ideas are:
1 Go partners with the parents on the property.
2 Parents act as as your guarantors.
3 Parents borrow against the home and lend you the deposit.
Hope this shows that there are a number of ways to skin this cat.
I wouldn’t suggest any alternatives unless I knew your situation.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I think a pack with two leases is about $7.50 here in NSW. Poss be different in WA.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I buy my leases from the Newsagent,
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
That is cheap – I recently was quoted $300K for a corner duplex 2×3, single level, finished right down to landscaping and window coverings.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
1. Yes – just get the solicitors to handle the transaction. You will not need an agent.
2. No – The lenders will only lend on valuation if it sold under value by family or if a protracted settlement is used – typically 12 months.
You can settle on the purchase price then ask for a reval and refinance. This can be done with some lenders.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You don’t give up the FHOG by buying an IP – merely postpone it until you buy a home.
To qualify you need to occupy the home within the first 12 months then live in it for a six month period.
more info at:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
