Hi JoshWe buy and sell property continuously without Agent assistance.  A quick run down of what the seller and buyer needs to do in the transaction you mention is:1.  The Sellers go to their solicitor and ask the solicitor to draw up a complete Contract of Sale2.  The Sellers solicitor sends the resulting Contract to your solicitor and he/she doe…[Read more]

Hi DarrenMy information on vendor finance in SA goes like this:1.  You can use an Instalment contract in SA to sell a property but you can't charge interest.2.  Towards the end of 2009 the SA government put new regulations in place further limiting your ability to sell your property with a Lease/Option.  Lease/Options had been the preferred met…[Read more]

Hi chookstar81This link should help:https://www.propertyinvesting.com/forums/community/heads-up/4332885Cheers,  Paul

Hi JackyAs a general rule the Foreign Investment Review Board will allow non residents to purchase residential land, if they agree to commence building a home on the property within 12 months.  Otherwise non residents are not normally allowed to buy existing residential property (other than specifically approved FIRB projects).Please send me a…[Read more]

Hi jackyngewOne section of our business revolves around our JV Partners buying existing properties, on selling them at a premium price with vendor finance and sharing the profits.  This is a great business and we're currently exploring an extension of this idea that includes the building of new residential property, as new builds usually have an…[Read more]

HiAs Terry says, i.e. you'll need to pay stamp duty on the Option Fee of $5K once the option is established and then pay stamp duty on $300K (strike price) within 90 days of an exchange of contracts, if the option is exercised.Cheers,  Paul

Hi PhilipIn NSW we seemed to have a bit of a boost at the beginning of the year but that seemed to flatten out about 2 months ago and I'm sure it'll stay that way until after the election.  After that, the crystal ball gets a bit murky  We focus on buying and selling and selling residential property with vendor finance and accumulating more long t…[Read more]

Hi ChristineI'd suggest you give Richard Taylor a call.  Richard can be found on this forum under the username of Qlds007Cheers,  Paul

Hi erikamarwoodI got the following email from a chap I met in Perth just over a week ago.  I pass it on only to help him, i.e. I'm not making anything out of it.  You'll have to do your own due diligence on the location as I don't know much about Cairn's locations or the Cairn's market.  I pass this on only from the point of view that it may or…[Read more]

Hi tigermigerThe "excellent property-specific" specialists you're looking for are very definitely available to you via the "Finance" sub-forum here.  I'd certainly be talking with these guys first.Cheers,  Paul

Hi CattabyIt's possible that your current income level may slow up your portfolio building pretty quickly if you were to setup your next IP purchase as a negatively geared IP.  In the same situation I would look closely at making your next purchase a positive cash flow IP, with the plan that the positive cash flow from this property, supports…[Read more]

Hi mookiiAs Terry says, in Vic you will be liable for Stamp Duty upon entering into a Put Option and a Put & Call Option on a property.  The Stamp Duty will be calculated on the Strike Price of the Put or Put & Call Option.However, if you control the property via a Call Option, without an associated Lease on the property, you are only liable to p…[Read more]

Hi mookiiIf you want to take possession of the property as well as have an Call Option on the property, you would need a Lease to occupy the property (if it's residential property, it would be a standard residential tenancy lease).In Victoria, if you have take up a Call Option on a property and a Lease, then Stamp  Duty is payable on the full…[Read more]

Hi mookiiIn Victoria and talking only of "Call Options", you only pay Stamp Duty on the Option Fee, not the whole Strike Price, if there is no Lease associated with the Call Option.However, if there is a Lease associated with the Call Option then you must pay full Stamp Duty on the Strike Price when the Lease andthe Call Option are setup.I'd…[Read more]

Hi mookiiStamp Duty is a State based tax and it would help if you could let us know what State you're opperating in as there are quite a few differences between the States.Speaking only of "Call Options", most States only charge Stamp Duty on the Option Fee.  so if you pay an Option Fee of $100, you only pay Stamp Duty on that $100 (not the…[Read more]

Hi skraboI just met a lady in Perth whose got a less than flattering opinion about her buyers agent.  She tells me she signed up with the agent and after awhile wasn't happy with the service.  She story goes that when she went to cancel the buyer's agency agreement, she was told that she'd signed up for 12 months.  Also that if she bought any pr…[Read more]

Hi sonyasalIf you inherit a house that was the PPOR of the deceased, you are deemed to own the asset as of the date or the deceased death.  At that point, it would be CGT to the uncles.  If they sold it immediately, it's unlikely they would pay CGT.If they planned to keep the asset, not as their PPOR, they would be advised to get a licenced v…[Read more]

Hi JasonIn Victoria I'd suggest you use;Lewis O’BrienLewis O’Brien & AssociatesCommercial LawyersSuite 4310 Whitehorse RoadBALWYN VIC 3103Phone: (03) 9888 6388Fax: (03) 9888 6366to draw up the Instalment Contract (IC).  Lewis is a very experienced vendor finance specialist.Just to cover all bases, ave you worked out if you need Australian Cred…[Read more]

Hi JasonAs we are getting into the nitty gritty of the specific numbers for your property, it may be easier to give me a cala.Cheers,  Paul

Hi JasonSetting up this type of arrangement is something we're doing all the time.  We usually set it up so that our costs are added to the selling price, i.e. it's a no cost process for you.  Thanks.Cheers,  Paul