Of course Terry is correct    It's interesting how some States do it differently.  A bit more information on the State by State variations is available HERE

Cheers,  Paul

Hi Jacob

So far I'd say it was a transaction where we took complete control of three properties for 3 x $1 options and the payment of $20,000 in arrears.  We sold the Deception Bay (Qld) property with vendor finance and have since been cashed out of that property for an excellent profit.  We've kept the apartments in North Parramatta (NSW) and…[Read more]

Yep Lease/Options are allowed in South Australia but as mentioned at Tony Cordato's  http://www.vendorfinancelawyer.com.au site, 'In South Australia, Lease Options are limited to a term of 6 months.'

Cheers, Paul

Hi Tanya

Here's some information on vendor finance (VF) educational resources.  They aren't free but, so far, I haven't been able to find a free VF course 

The Vendor Finance Association is a great place to meet vendor financiers.  Dates and details of meetings are available at:  http://vendorfinance.asn.au/meetings-and-memberships/

I believe…[Read more]

Hi Pav

I couldn't agree more with Terry.  I'm not sure how much vendor finance experience you've got but I'd suggest:
1. As soon as you hear that a lender has received a writ of possession you move onto the next transaction (unless you want to buy it via mortgagee auction) and
2. Assumptive Joint Ventures (AJV's) are an advanced strategy, i.e.…[Read more]

Hi Dane-o

I've never had a great deal of success converting long term tenants into vendor finance buyers but you never know your luck.

I've done a few 'numbers' on the property, concentrating on generating cash flow for you.  The scenario is based on buying the property at a good discount and on-selling it with an Installment Contract.  The pdf…[Read more]

Hi Pav

If the lender (bank) already has a writ of possession I normally walk away.  If not and an lot of ducks line up, I may consider using our Assumptive Joint Venture (AJV) process.  However I regard the AJV as the most difficult and risk prone technique I've come across in vendor finance.  Therefore, if you have come across a potential AJV…[Read more]

The Vendor Finance Association have a meeting in Perth next Saturday.  The details are:

Saturday 8th December
Pagoda Restaraunt
112 Melville Parade (cnr Comer street), Como – 9367-0300

The meeting starts at 9am.  If you'd like to have breakfast beforehand, get there a bit earlier.

Cheers,  Paul

Hi 78

My preferred property investment strategy revolves around Vendor Finance.  It's not a website as you requested but the Vendor Finance Association is a great place to meet vendor financiers.  Dates and details of meetings are available at:  http://vendorfinance.asn.au/meetings-and-memberships/

I believe it's important to build a good…[Read more]

Hi John

On reading your post again and looking at the Rent To Own idea, I believe you would need to satisfy yourself that:

These overseas buyers are for real – I've had some obvious overseas (Nigerian type) scammers respond to a couple of my VF ads

Establish the income stream these VF buyers plan to use to service the rent and any on-going…[Read more]

Hi John

A Lease/Option (Rent To Buy) could work well in this situation.  When you say 'they would be prepared to give us a $200k+ deposit not sure if this suits', would you mind outlining why this may not suit?

Also, if you were to use an Instalment Contract the Title remains in your name until the vendor finance buyers complete the sale, i.e.…[Read more]

Hi Belinda

Personally I'd go with Sheree's recommendation, i.e. get an accountant to do it.  While you're there you may want to have a chat about appropriate business structures for your business.

https://abnregistration.com.au/entity/individual/  looked like an interesting idea – possibly cheaper.  And I don't have anything to do with them

Che…[Read more]

Actually we, i.e. the VFI, assisted them with their ACL application and they got it in September 2011 (409646).

We have no interest in the business but, as I remember it, it's a bit like Meriton selling some of their stock with vendor finance.  Except, in this case, National Deposit Funding, assists smaller developers do the same thing, by way of…[Read more]

So true Sheree, I've been a fan of JV Agreements for quite some time now   They're incredibly flexible.

Cheers,  Paul

Since we started in vendor finance (VF) I've always been wary of the Sandwich Lease/Option.  I think it may be because of the number of parties in the transaction and the fact that there are two complete sets of paperwork that all have to run smoothly.

Don't get me wrong, I often use a Lease/Option if my VF buyers need some time to get the Stamp…[Read more]

Bankruptcy stays on your Credit Report for 7 years from the time you're declared bankrupt.  Considering most bankrupts are discharged after 3 years, this leaves 4 more years before in disappears from their Credit Report.

Cheers,  Paul

G'day Terry

Tony, in my opinion, is the most experienced vendor finance solicitor in Australia, but he's only registered in NSW.

Cheers,  Paul

Hi Maverick

As the property is in Qld you will need a solicitor that's registered in Qld.  Mark Game is my go to solicitor for all things vendor finance in Qld.  To contact Mark call him on 07 3236 0001 or by e-mail at mgame@aylwardgame.com.au

Cheers,  Paul

Hi scha9799

I'd suggest you ask the person who has offered to take the property from you on a Lease/Option (often called a Rent To Own), if she/he is planning to on-sell the property with another Lease/Option.  This technique is called a Back to Back Lease/Option or Sandwich Lease/Option and is often used by vendor financiers.

As a vendor…[Read more]

Hi Janiceh

Other than vendor financed properties there aren't to many properties for sale that have finance included.  Therefore most people who contact you will want the property, i.e. your job is not to sell the property but to qualify a prospective buyer.  To ensure prospects know they must qualify, one of my first questions to them is, 'Do…[Read more]