Forum Replies Created
- Qlds007 wrote:
in QLD you can make multiple offers but if they are accepted you can not pull out unless you use the cooling off period which will incurr a .25% of the total purchase price penalty.
This assumes that all of the offers were cash unconditional offers otherwise as Jackie has mentioned you could terminate on the basis the approved finance was not acceptable to you the buyer and the full deposit would be refunded.
That's useful information, thank you.
Rudi
Thanks Scamp….I discovered that this arvo when I called the council!!! Ah well, onto plan D, E or F!!!
Rudi
Fantastic, thank you for that Don.
Rudi
Hi Crashy
Thanks for your reply. As I said, I'm a complete newbie at this so forgive my ignorance!!! At the moment I have the proceeds from the house I sold in Sydney sitting in the bank, doing nothing more than earning me some interest each month. I have moved to the Bayside area in Brissy, where right now the market, whilst not low, is a little slow at the moment and so there are some houses to be had at fairly decent prices. For example – the older house I mentioned – the owners bought it a year ago for $410000. Since then they have added a fully ducted aircon system, completely rennovated the inside, including creating an additional bedroom, had the roof resprayed, rennovated the pool area and much more. And yet I still think I can get that house for $410000, even though on paper it says house prices have risen in this area. I think they have, but as the market is slow, and some people really want out, they are prepared to accept less.
Please can you elaborate on your suggestion that I could be losing money by buying right now? Sorry to be so dumb here, but from the research I've done, the area I am in is one which is fairly solid in terms of growth. However, as I am a novice, there could be things I am not seeing and understanding so your help would be appreciated.
Thanks again
Rudi
Thanks for your comments. My gut feeling was the newer property, but I guess I was being a typical woman and letting too much "heart" come through with the one with the pool – it seemed like a "nice" family home……….
As to "why the hell would" I? Well I guess we all have different reasons for doing things. Right now it makes FAR more financial sense to us to rent ourselves and buy 2 (for now) smaller properties to rent out. We will pay off the mortgage on one of those properties within a couple of years, thus making it positive cashflow rather than negative, and then move onto the next project. But thanks for the advice anyway.
Please wish me luck with buying the property!
Rudi
