I would be very wary of any SMSF advisor recommending purchasing in a single building for all of their investors – this is not advice tailored to your situation but an investment providing sales to the developer. Sure they may be recommending a structure of a unit trust (and using your super) etc but what differentiates these guys from the spruikers?
How will this structure affect the performance of your investment? This will be a residential building with 100% investors ie no owner occupiers/full of tenants/lots of differing owners points of view on Body Corporate but no occupiers who 'look after the place' etc.
Where will each member's superfund get the ongoing maintenance costs?
Has a deal been stitched up with on-site management (or have laws now been passed in Qld to prevent this scenario)? To whom? What is their association with the developer/spruiker? How long is the contract? Who is to profit from the contract?
Are you assigning your BC voting rights to the building manager?
Seven shops will also be classdd as a shopping center under the retail leases act so you’ll need to be aware of any restrictions which then apply as the lessor.
Send a plumber with an in-pipe video camera inspect the drainage (or fill the bath, basins, tubs etc and release them simultaneously to see if they all drain quickly – you'll need a few people in different rooms).
Damage to the property would be subject to the type & proximity of the trees to the house. Other issues to consider are whether roots have entered the sewer/drainage pipes. An arborist report would be part of your DD if you were looking at development potential of the block and considering the likelihood of removal of the trees affected.
Likewise, not sure what you are trying to achieve – agents put forward an amount for their commission and then take a risk as to how long they will spend on the sale. The longer it takes the less profit in the deal for them. Why would they consider signing up for an hourly rate and get a minimal fee if they sell on the first open?
Sorry to ask a stupid question – what is HOA? (obviously not Heads of agreement).
As to the price of the land, the taxable value generally does not reflect the market value of the block – appoint a valuer to provide a valuation of the block for sale purposes. That way you will have a price that reflects market not the value for rates.
It is pretty hard to resurface concrete effectively. What do you mean – adding 2" of concrete topping? There is always a risk of it becoming drummy and lifting, cracking due to lack of reinforcement, increased height due to topping etc.
You might consider patching and then applying a textured epoxy surface finish eg brick pattern etc. This is cost effective and may lift your rental appeal as well.
Fire separation, noise separation (including noise & fire insulation of piping), exits, fire indicator panel (possibly), separation of electricity supplies, fire doors, deliniation of common areas, strata survey plan, meeting all BCA compliance requirements for strata properties etc.
It depends upon the town – Goulburn, Albury & Wodonga have been bypassed on the Hume Hwy and are still thriving cities. Tarcutta and many other small towns have simply died.
Have a look at Mittagong/Berima and the time it has taken for them to get back on their feet as tourist towns (Berry would be similar IMO).
It may vary between LGAs Sam, so check with your council with regards to the requirements for tree protection The property next door had a requirement for 5m all around whereas a development up the road has fencing around the entire nature strip (two gum trees).
As for the sewer – do you really need to replace it if it ain't broke don't fix it. Possibly look at relining the pipe or making a new junction in the sewer where it isn't affected by the trees & cap the existing.
One other issue that the ATO will look at will also be whether or not the company provides a % of work/services for other clients. It can be seen to be a sham subcontracting system and you will also be caught for tax evasion.
unless you can prove that the agent has modified the plans which you received, the agent must rely on the information provided to them by the vendor. If the vendor has inadvertently or intentionally provided different plans, you may have a case with the vendor.
It may just be a case that your DD failed at the first stage – matching the approved plans with the approval.
If you know that you can contact the owner (providing you aren't cutting the agent out of the deal), go for it.
As an owner, I would be ticked off and directing you back to deal with the agent – I don't take unsolicited door knocks when the property is listed. However, you need to overcome their objection letting them know that your offer has been rejected and whether it has been presented by the agent.
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