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  • Profile photo of Scott No MatesScott No Mates
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    The basis tenet is that a government department eg roads, rail, water etc require your property for infrastructure purposes. Depending upon who is acquiring and for what purpose determines whether you are covered under state or Federal legislation.

    THere is a whole branch of valuation devoted to this form of acquisition and it is best to engage a valuer to act on your behalf ASAP to ensure that you do not limit your compensation.

    There are major differences between how states and the feds determine compensation so it is essential to get in contact with your valuer so that you can understand the effect of any such notice.

    Profile photo of Scott No MatesScott No Mates
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    Use an adequate deposit rather than equity or 100%+ borrowings.

    Profile photo of Scott No MatesScott No Mates
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    you can't always rely on your building inspection – you need ensure that they are properly briefed and also insist that they include photos of the property. I was looking over one today where there are some major discrepancies with the existing building and the report – they guy hasn't picked up some minor structures: a sizeable pool and about 200 m2 of pergola!!!!!

    Profile photo of Scott No MatesScott No Mates
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    PRD Nationwide have recently done a research paper on Townsville – check it out on their website.

    Profile photo of Scott No MatesScott No Mates
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    Pre-1984 Nil
    Works post 1984 – seek a QS.

    Profile photo of Scott No MatesScott No Mates
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    Legislation states that all properties are to have hard wired smoke alarms – a battery operated one does not qualify. If it burns down, it has not been hard wired or maintained who are they going to point the finger at? Do you want to take that risk?

    Do your self the favour and get peace of mind, get it hard wired (unit is about $40 + installation) – get the property manager to organise it.

    Profile photo of Scott No MatesScott No Mates
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    Under the BCA if a room has a ceiling height of less than 2.4m it is not a habitable room (habitable room – bedroom, loungeroom, family room, study, rumpus) vs (non-habitable room – bathroom, laundry, hallway, kitchen, cellar, garage, storeroom etc). The implications are that if the underfloor area contains 'bedrooms' or a 'lounge' then someone drawing a long bow may say this is only a 2 bedroom house not 4 + study or whatever.

    Profile photo of Scott No MatesScott No Mates
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    You will most likely need to complete the Real Estate Sales course prior to becoming licensed to sell property (even within an agency/developer).

    As it is residential, I can't help you out much more – possibly suggest do a drive out there to see who has the estates or visit somewhere like 'homeworld' or other housing estate show homes to see who operates in which market.

    Profile photo of Scott No MatesScott No Mates
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    It is a development, just about anything of value must be depreciated if it is buy and hold. If you are developing to sell, then you are selling a new product and there is no depreciation. If it is a business, then these are costs of doing business.

    Profile photo of Scott No MatesScott No Mates
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    Westfield but they don't sell anything. Grollo's, Lend Lease, Mirvac, Central Equity (if they are still around).

    Which market sector are you talking about?

    Profile photo of Scott No MatesScott No Mates
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    I'd back both of the other comments – however I'll add: join an industry fund (one open to public offers eg CBUS or check out superratings website), fees are minimal (these will eat away at your capital at a rapid rate). When you have a couple of hundred grand set aside, then go for your own fund in order to keep costs down to 1-2% of your balance.

    Profile photo of Scott No MatesScott No Mates
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    It depends upon the result that you are after and the type of property that you are selling.

    Most commercial/retail property is sold off site.

    You would consider offsite for retail especially if the property was on a main road, under a flight path, on a train line or had tenants in the building.

    If parties are interested in buying at auction they don't care about the venue.

    Offsite auctions keep the tyre kickers away ie nosy neighbours or those just looking.

    Profile photo of Scott No MatesScott No Mates
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    Why don't you consider a 'sale and lease-back arrangement' if this suits you – no removalists costs, you don't waste time finding a new home, don't upset the kids by relocating etc. Downside is it was your old marital home.

    Profile photo of Scott No MatesScott No Mates
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    So what you are saying is that medium density development is permitted at around 300 m2/dwelling. In this case 11 dwellings.

    Your best bet may be to purchase, possibly an option subject to achieving a DA. Get the development designed, approved by council and then pay the vendor. Consider your options at this stage to be either sell the site with a DA or to go it alone or with an equity partner.

    Profile photo of Scott No MatesScott No Mates
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    The odds of winning at the RTT are very slim, regardless of how far in breach the tenant is. You can have all the records in the world, perfectly maintained etc.

    Profile photo of Scott No MatesScott No Mates
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    Save yourself time and aggro, speak to an insurance broker eg Marsh etc. Explain your circumstances, provide all relevant property details, level of cover etc required. Let them do the work and recommend.

    Profile photo of Scott No MatesScott No Mates
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    Review the LEP – what is the minimum size block under R40? What is the minimum frontage required? If the block complies with those basic requirements then go see council.

    To subdivide, you will need to provide services to both blocks (sewer, water, gas, electricity) if they are all available to the current block. You will most likely have to install stormwater and paved driveways to both properties including any access handle.

    You will have to get a plan of subdivision registered drawn by a surveyor.

    You will have to pay your S94 contributions (for the provision of community services).

    Profile photo of Scott No MatesScott No Mates
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    Check if the second dwelling has been council approved and that the vendor provides such proof. That each bedroom has a smoke alarm (it is against the law in some states to sell a house without smoke alarms).

    There is no law limiting the number of people in a house, however there are regs which regulate boarding houses and the like. There is another poster on this board who owns student accommodation and she can provide a wealth of information.

    Profile photo of Scott No MatesScott No Mates
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    QB, how can you assume that the tribunal should back the owner? Owners don't contribute to the bond (paid by the tenant)

    Profile photo of Scott No MatesScott No Mates
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    No, the agent is only following your directions. They should advise you against going for a fishing trip (unless you are paying all of their costs).

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