Forum Replies Created
I do not see any justification to charge a commission and advertising expenses. Agents are working for them selves! If they are paid a commission-then advertising is a part of their operating costs or it should come out of the commission when the property is sold. Especially if you are locked up with an exclusive listing that guarantees them a lump sum equal to several months wages.
In my opinion agents have in fact become advertising salespeople. You pay them to advertise their business.
I am currently selling a property in Bendigo and opted to do my own marketing. It costs me a few hundred dollars for two signs and $130/month on the http://www.domain.com.au website.
I just thought I would confirm Colin’s statement about kissing the next two year off if you sue.
I sued National Builders Group through VCAT over a building contract dispute.
http://www.austlii.edu.au/au/cases/vic/VCAT/2006/1309.html
They are now attempting to appeal this decision. So I’m expecting it will take an extra year or two?
Very interesting- I purchased a commercial property with no out clauses. I had all finance approved, however the vendor wanted the sale to fall over because he had been offered an extra $50k. I ran very close to not meeting the deadline due to the bank dragging the chain.
I asked for an extra day or two for the bank to transfer the funds-the vendor stated he would not allow me an extra hour!
I assumed I would be simply charged interest on the last $150,000 outstanding of a $500,000 deal until settlement.
I did want to get out of the contract.
I was told by my solicitor that I would be in preach of the contract, and could be sued.Originally posted by igrapleu:To continue on about a commercial property, when you purchase, how much (%) stampduty is payable?
Cheer
BenThe stamp duty is scaled-however in qld on $500,000 it is $16000 approx.
Originally posted by harpeau:Thanks for the replies
answers are a little confusing thoughcan someone tell me, if i purchase a commercial property and tennants are in place, do I have a GST liability to pay on top of the purchase price for the property? (not talking about paying GST on the rent)
thanks
harpI have recently purchased a commercial property with a tenant (Retail shop-Swimming pool sales & service) and a three year lease remaining. I have paid no gst under the going concern rule. My conveyancing was done throuigh a solicitor.
I am now looking ito developing the property further-can anyone give me information on building cost regarding tilt up slabs?
I have a 200m2 block-brick building and I want to build an extra 2 x 200m2 metre shops.
I went through coopers and liabrant to ITP and H&R block and then to the fairest deal I was able to get. A fixed annual price that included phone call advice and 4 visits per year.
I then decided to do a business (accounting) tafe coarse and now do my own (Company and personal). The web and especially the ato site give you heaps of information, and if I am not sure I send them an email for a ruling.
If you want a no frills try ITP or H&R block but I some do not do companies?
I am sure you can invest it into property, however what you may be overlooking is, the $20,000 is an asset and the cost of the property is an asset so it does not become a deductible expense.
The interest on loans to buy the property and running costs are the deductions.Check with your accountant again!!!
I signed a so called fixed contract with National Builders in jan 2005 for $7200/square to build a townhouse.
They did not bother to get a simple council information report and here is the result.
http://www.austlii.edu.au/au/cases/vic/VCAT/2006/1309.htmlThe final price would have been $10,000+ per square.
In my case their response was unless I paid the extra $28000 they would simply not build.
They would keep my deposit, enforce the contract penalties and also threatened to sue me for speaking out.At no point would they negotiate, directly, through consumer affairs or in the vcat system.
