I'd rather consider the quality of the investment as opposed to the size of the block that it sits in. A block of 10 with a difficult body corporate or cash-strapped owners or lots of rentals etc may be a dog of an investment or a gem, likewise a cbd highrise may have similar issues.
Consider this, you are going to be getting an extra $10/wk ie $520 pa. 2 weeks lost rent while getting the place painted = $440-460, agent's letting fee $220+lease prep + gst, advertisement $150ish.
It will cost you close to $800 today to recoup $10 for the next year and a half, so unless you will be getting a substantial uplift in rent, is it really going to be worthwhile?
a proper search should have revealed some of these issues. The zoning certificate S149 would identify floodprone land – this forms part of the requirements for the sale of land in most states.
Does the property have a creek, waterway etc? The DPI/council could confirm. Did you check?
The agent can only disclose the information which has been provided to them.
If you had a S149 and it doesn’t disclose floodprone land, there may be a case to answer.
liquidated damages are just that. The amount in the contract has to reflect the loss/costs that you will incur eg: additional rent, interest etc applicable if the work had been completed.
Remember that the builder can legitimitely have the contract extended for inclement weather or for variations.
If you can’t prove it how can you justify it at a tax audit. Get a receipt book, put in the purchase details & seller’s name. You can’t claim the gst, as there is none.
Not likely. Just give them specific instructions that if there are any early payment discounts available to take advantage of them (this is only on the basis that you have sufficient funds sitting with the agent – eg have a $500 float for costs).
