Forum Replies Created
So for the uneducated amongst us, at what point can the buyer recind the contract if the vendor is not ready to settle or wishes to delay the settlement date?
TammyThank you for the comments.
I am not intending to purchase any, I have my own development projects running. And I dont feel "right" about a dummy sales agreement.
ANy thoughts on another bank that will run 80% on a lodoc for developments?
Cheers
TammyThe mindset that 1 IP (bought $81K rent $150) was enough and to buy anymore was just being greedy.
Over that now.
hmmm…. so the $2100 I paid to have my trust set up with corporate trustee was at the expensive end?
Bugger!!!!
Hi Tracey,
I am very pleased for you to hear it all turned out OK. I hope you didnt earn too many grey hairs in the process!!
Cheers
tammyWow, why so cynical F?
TI guess it also depends on the area. I live and invest primarily in rural areas and would argue that the land value is not the higher determinant of the final price as the land is cheaper but the cost of construction higher than in metropolitan areas.
The final price of a property is very subjective and it is very dependant on the buyer. An owner occupier how may be buying on emotion may value the same property higher than the investor who is looking at how the numbers stack up. Past sales is about a good place to start if you can get an accurate idea of what the sale actually was. What I mean is the block size on RP data may look the same but what was sitting on it.
All the best in becoming an "area expert" and picking those prices.
Tammy
Out of curiosity, how long ago was the trust established? Is there a Fair Trading avenue on this?
TammySorry Kylie for the misunderstanding. I read it as though you were a buyers agent. I will call you today.
Cheers
TammyDents when hit by golf balls as one resident discovered after building with it near the 8th!!!
Thank you for that Kylie
I will call you on Monday.Had anyone had any experience as a vendor?
Cheers
tammyMy husband had PRK at the Eye Institute in Chatswood in 2000 and apart from dry eyes occasionally, is very pleased with the results. In his occupation, it has made life a lot easier. At the time we researched all doctors who were performing this surgery and felt confident in our choice. It was interesting to note that whilst in the waiting room we ran into a husband who was waiting for his wife. She was having hers redone as a different clinic had not produced satisfactory results. We were happy we chose the clinic we did and didnot go the cheaper clinic.
All the best
Tammysweet!
Hi Lisa,
Congratulations on what sound like an interesting journey. I hope that 7 weeks for council approval is sufficient time. I have just revieved word my subdivision approval has come out of council almost 4 months after it went in!!!! And just prior to submission, I spoke to the town planner who assured me it would only take 6 weeks. Then one TP resigned to relocate and another went on early maternity leave and and the other had a minor heart attack !!! So, I guess what I am saying is, things beyond our control increase the time or the cost so take it for granted that it will take longer and cost more than the quoted and if you come out better you win! I do hope it runs smoothly for you.
Alle the best
TammyHi Trustie,
you can look to magazines like Australian Property Investor (at newsagents) for the growth in the area. Also, most REAs would be obliging enough to give you the info as they have it redily available. Alternatively, you can pay for an individual search with RP Data or Red Squre or join for the one week free trial at with PDSLive to get the info.
Hope that helps and souns like you have a win win situation if all goes well.
Cheers
TammyHi,
Scientific studies that get reported in the media are often those that have the greatest emotion attached to them. There may be 10 that oppose this point of view. I am not suggesting that the report is right or wrong merely suggesting that it may only be one opinion. At the end of the day it probably isnt which study is more correct that will inlufence things but the public perception. If the public percieve that the high voltage power lines may cause cancer (and lets face it – what doesnt!!) then even if there are 10 to 1 studies that say they are harmeless, the perception will be stay away from them. That is human nature.
If your question is generated from an investment potential I would suggest you look at the prices and time taken to sell in that area compared to other areas that are similar. It your question comes from your own concern, I would suggest that you look towards the source of the study for content rather than the media that will write with their own slant on things.
A few interesting links
http://www.bmj.com/cgi/content/full/330/7503/1290
http://www.hps.org/hpspublications/articles/powerlines.html
http://www.health.vic.gov.au/archive/archive2004/chobulletin/downloads/vol1no1july2001/powerlines.pdf
http://www.smh.com.au/news/National/Babies-at-risk-with-highvoltage-cancer-link/2005/06/03/1117568381340.htmlThat said, would I live near the big monster power lines? No way, I have 2 little ones and whilst I may gamble with my life, I wouldn't chance it with theirs. And I come from a scientific research background. Emotion when it comes to your own children is a much stronger input than logic. Just my 2c worth.
Cheers
TammyHi Trustie,
Just a few thoughts.
What is the zoning of the blocks? You can find this out from council who will also be able to advise the density level (ie how many per area). This will help evaluate the development potential. Have a look at what is currently being developed in your area, what sale prices the end dwelling are getting, what prices current listings with "development" tag lines are on offer for. Dont be afraid of ringing up your local REA and asking their opinion of what is available (hey you can always say you are looking for development potentials!). If it points to there being a valid development opportunity in combining the two blocks you may be well placed to take advantage of the neighbour selling. Of course, consideration must be given to the ability to rent the property out in the meantime. If your daughter has the surplus funds and is secure with the thought of capital gain, great, if it is going to be a struggle then the possible future gain may not be worth the pain.
It certainly sounds well worth investigating further and I hope it all goes well for you all.
Kind Regards
Tammyon one we purchased the solicitor just hand wrote the % division against our names in the contract. That is the only place it is recorded. Have apportiotioned income and expenses according to this % at tax time. And when it is sold (for sale now) the distribution of profit will be as per the % division on the contract. Both the solicitor and the accountant tell me this is fine. Just my experience.
Cheers
TammyRecently purchased in QLD on a $1000 deposit. I am in NSW an the standard here is 10%. I put an offer in with $1000 deposit which the vendors solicitor advised against accepting, saying they wanted 10%. We settled on 5%. Apparently (and someone with more knowledge will be able to provide further info) there has been a recent case in NSW where the purchaser pulled out of a deal and the vendor was not able to persue the balance of the deposit to the 10%. From memory this was upheld by the court. Sorry I am not able to recall all the details. The end result is that the solicitors are now strongly advising to only accept the full 10% deposit, at least that is how it is here in regional areas.
Cheers
TammyHo Tracey,
I am sorry that you have had such a trying experience, you would not have picked it from your helpful posts. I am glad to hear that it does seem to have worked out for you i the end. As I heard recently "Property investing – if it was easy, everyone would be doing it!).
I wish you a happy and stressless christmas and thank you for sharing this distinction between contract and tort law. I honestly would have thought there would be some liablity, otherwise why use them? It is cheaper to do your own.
Cheers
Tammy
