What I’m concerned about is this.

– The bank will want to inspect the place at some point to decide whether or not to loan you the cash to buy the place.

– The bank might say no.

– The contract goes unconditional two weeks after exchange.

– If the bank says no, and the time it says no is not within the two weeks, then clearly this would be a…[Read more]

Thank you!

Not dead yet.

Lo there do I see my father.
Lo there do I see my mother and my sisters and my brothers.
Lo there do I see the line of my people back to the beginning.
Lo they do call to me, they bid me take my place among them.
In the halls of Valhalla.
Where the brave may live forever.

Thank you, Qlds007. So you can apply to subdivide a property during the settlement period then, I take it.

How long does it take to get approval to subdivide, usually?

Not dead yet.

Lo there do I see my father.
Lo there do I see my mother and my sisters and my brothers.
Lo there do I see the line of my people back to the beginning.
Lo they do…[Read more]

Also, is the “inspection date” agreed on the contract at the end of the two week period, or is it at a later time?

Not dead yet.

Lo there do I see my father.
Lo there do I see my mother and my sisters and my brothers.
Lo there do I see the line of my people back to the beginning.
Lo they do call to me, they bid me take my place among them.
In…[Read more]

Thank you for your help.

I gather that the bank will want to inspect the property at some stage, to get a rough value of it and thereby ensure that it’s not lending you money on a lemon. Does this normally also happen within the two week period after exchange of contracts?

Not dead yet.

Lo there do I see my father.
Lo there do I see my mother…[Read more]

Hi Judi.

I found your earlier post to PenguinJr to be very helpful and informative. I have some further questions, however.

Originally posted by judi:
Talk to a mortgage broker. Find out how much you can borrow.

Is this what is called arranging provisional finance? I take it that this is the step at which it’s a good idea to get written…[Read more]

Originally posted by JohnO:
We have recently purchased a house and land package at Mawson Lakes (SA) and completion of building is Feb 2004, the total cost is $210,000.00. We have put in $30,000.00 and the average rent for this type of property in this area is $230 – $250 / week. This way negatively geared using the formula from Steve…[Read more]

I, too, am interested in regional investment.

My main concern is that a house in a small town might have a high vacancy rate. That would obviously be a real cashflow killer.

Does anyone know if there a method to determine the likely vacancy rate for a particular town?

Not dead yet.

Lo there do I see my father.
Lo there do I see my mother and…[Read more]

I would have laughed very loudly at him, asked why he didn’t buy it himself if it was such a great buy, asked if he was incompetent to judge a price since he sold it so cheap, asked if he could spell “leech,” then hung up on him.

The word “leech” certainly would seem to fit that man. I certainly would not want to do business with him. From the…[Read more]