Once again thank you all for your help. As per my solicitor advice agent include special condition, that is owner's have to get permit for pool within 4 weeks. Otherwise I can terminate the contract. 

I told agent if owner not agrees I will terminate the contract. but agent not take it as serious. I went to agent office with termination letter.…[Read more]

Thanks mate, its sound good.

Thanks Terryw.

I belief this applicable to Victoria as well as per advice received by person who went through similar situation.

Thanks Nigel,

Yes pool have a fence. My concern is if solicitor also advice to pull out from contract, the I will lose $500 + I have to pay solicitor as well!  If owner agrees to they will take responsibility for getting permit, then definitely I have to hand it over this matter to solicitor to deal.

Cheers

Thanks Terryw,

There is concern, If i cancel the contract, is it I am loosing deposit money of $500? My initial understanding, during the cooling- off period cancel agent needs to return money.

But when check the REIV( Real Estate Institute of Victoria) its state "your are entitle to refund all the money paid EXCEPT $100 or 0.2% of purchase…[Read more]

Thanks for clear picture of repayment detail.Actual issue here is when I ask IP loan, bank accepting that I can contribute monthly around 1200 (while I am paying my current rent (around 1100). But when I ask for my first home loan they are not accepting I can make 2300 contribution for each month!!! That’s right I will check with mortgage broker a…[Read more]

Thanks Shape,  If I explain little bit more my first question a)      During the construction period I have to pay part payment only (eg; once foundation complete, first floor complete, roof complete & Balance ect). This process take around 9 months as per my discussion.  I am wondering how & when repayments have to start. Ie after house ready…[Read more]

Thank u for all for clear explanations!!

Thanks guys for comprehensible explanation.@ryan ; reason was I planned to rent out is current my work location is 250km away from Melbpurne and I just now started to look for to move close to melbounre.  And by looking the current market trend I feel this is the time to buy.@jamie: if  I buy as IP and after 3 years I move to my IP without c…[Read more]