Hi Gina, If you dont mind me asking, what suburbs are you looking at?

Yes the usual settlement is 60 days. You can ask the agent how much settlement period has the other person asked for. This could help you make a wise decision. And when you make the offer make sure you have the clauses “Subject to….” before you sign on the dotted line.

I personally do not believe that you would have to decrease the rent for a property thats right on the train tracks. From my experience only a handfull of people would worry about not staying next to the tracks whereas a majority wouldnt mind staying next to the tracks. In areas like Caulfield, GlenHuntley and Carnegie (all in vic), properties…[Read more]

When you accepted the offer did u specify the following:
1. Subject to Finance
2. Subject to Building Inspection
3. Subject to Finance Inspection

My understanding is that we can put these clauses to safeguard ourselves

Creating wealth is better then minimising costs, however you do need to do your numbers properly. Had it been me i would have :
1. either look for a property under the LMI threshhold or
2. save up 8K or might even take a 8K personal loan on my CC to get the property and pay the CC with a low rate balance transfer getting anoter CC

I’d go for…[Read more]

Hi Cassco, Pls dont take me wrong, but i sincerely do not understand how could you enter a deal without reading the contract. What the agent has done is UN-ethical, but in todays world you cant really trust and take any ones word for granted. I am not good at legal stuff so cant help you finding a loop hole to get back to your agent. But pls be…[Read more]

I experience the same, using an ADSL Connection despite of setting my page preferences to ” Not to Load Automatically”. Would be good if the site admin tweaks the server or perhaps get a powerfull server realising the amount of Data (posts) we have now and the number of simultenous member logins.

Thanka LA Aussie! Well this block of land is to build PPOR. As you pointed out, i am a bit emotional as i really want to have my own house built and stay there rather then pay rent (and subsequently someone else’s mortgage). My concerns are:
1. If i place a low offer and someone beats the offer then i will have to wait for the next land…[Read more]

Based on my knowledge (from staying in Preston for the last few years and been enquiring about Point cook – looking to buy my own house there), i’d say Preston, Thornbury and Williamstown would be excellent for IP’s. Not sure about altona meadows but point cook is definitely a NO for IP’s at this stage. Point cook would rise eventually but nothing…[Read more]

Hi Sarge_80. I am looking at buying a block of land in innisfail. I understand the rebate part you mentioned. Since i am a newbie i would like to know whether we as buyers put an offer on what peet (the owners of innisfail) quote us for the land? or we simply accept their price and put a holding deposit on the land? Even i am quite particular of…[Read more]

Sanjiv, i’ll ask you the same question that others have asked Contrarian. Is it secure? what kind of guarantee can you give?

Thanks for clarifying this Nat. I am in melbourne so perhaps my next step would be to search for a Solicitor in melbourne as i would be needing legal advice for my next venture.

Regards
SMTM

What would you register your business for? Once you know the answer then go for it. Have a look at the ATO website, depending upon what you want to do there are quite a lot of options like Sole Trader, Company, Partnership or Trust.
You can buy property using the business name as well. It has many advantages and disadvantages. But as i said…[Read more]

Thanks CT, i’ll try to get my hands on this book…

Yup thanks Julie!!! now i am with you. Mirror image the plans on a east facing block. thats making complete sense to me.
Thanks a lot again. It took me a while…. but now its sinking in my head!!

cheers

Hi, I am pretty new to this too, but the 1st thing that come to my mind is – Wouldnt your loan be larger if you put 5% deposit? hence larger payments? however by putting in 25% you would have to borrow less, try to get the property +ve geared and save up to buy another one later.

Hi Guys, Just adding on to this, i am looking a buying a house to live in with my wife. To be true i have no issues whether we buy the property in my name or both of us’s name. If we stay in the house that i am buying now and later buy another house (after 12 months) in my wife’s name, stay there for 6 months, would she be able to get the FHOG?

Sorry, point 1 in my post i used the term mirror image, thats not correct. what i meant was just the garage and bedrooms swapped over.

Thanks a lot Julie, I really appreciate your time and effort in explaining this to me. I agree with what you proposed and i havent yet bought the block. I beleive the drawbacks that you identified could be done away with :

1. If i buy the east facing block but use a mirror image of the house plan, ie garage and bdrms swapped or
2. buy a north…[Read more]

Hi Julie! I am astonished!!! Thanks a lot for all your ideas. To be true i never thought of these things in so much of depth. I just started work, need to review your post in details once more and shall get back to the forum soon.
Cheers and Have a Great Day