Forum Replies Created
dah! silly me sorry house is in south australia.
thanks for the tips, from what you’ve all said it doesn’t sound like it shouldn’t be too much of a headache to do it without an agent.
Yeah being ‘sprayed’ like that would really tick me off too Adam!
I was thinking if I used an agent I would go thru Vendor Rep, like a broker for REA.
But will give it a bit of a bash by myself first.
Yes I definitely need to get a valuation done. I am thinking it is worth about 200 to 220,000 but haven’t bought or even looked much at the market for about 3 years so I could be a bit off!Thank you everyone for your feedback, it is invaluable!
Tanya
hmmmmmmmmmmm. that is a very good point about possibly losing money.
it is a pretty nice house but the previous tenants did some damage and a pretty average patch and paint job was done on some of the walls.
floorboards need resanding and polishing.
everything else was fixed up pretty well with my landlords insurance and some sacraficed weekends.
my plan was to move back into the house and do it up a bit to get more money but the previous tenants are very nasty characters and i just don’t feel safe there. (they still visit their druggie mates on the same street!)
i think my insurance company is seeking recovery from them so i’m keeping a low profile.
i bought the property 6.5 years ago so stand to make money anyway, but yeah, might be sacraficing a bit.
i’m thinking of the idea of getting my bro in law to do some work to the house but don’t want to put the tenants out. they did agree in the contract to allow access for maintenance as needed but did not have the idea of selling back then.
I just want it out of my hair but i don’t want to lose too much!I will check out that website, thanks for that
Tanya
Thanks for your help Chris.
Have a great Easter [biggrin]
Tanya
[
]Thanks very much.Regards
Tanya
Thanks heaps Mel was looking for ages with no luck!
Tanya [
]quote:
Quote:but loan interest would be charged on $130.00 less each month as savings would sit in there to offsetHi Simon/Melbear
Sorry I made it sound a bit complicated. Yes I did mean what Melbear said that interest would be charged on 130.00 less not saving 130 in interest so i guess the lower interest rate would be cheaper. But then it does only work out to 200.00 so I guess i’ll work out the other pros and cons.
Thanks very much both of you for your help, feel like it was a stupid question now but I didn’t realise it was as simple as just working out the interest difference x the amount borrowed and dividing by twelve for each month.
Tanya
Quote:Also, why wouldn’t you just use the $5000 to pay off the principal, surely that would be a better option, if you didn’t need the money in the short term?
Hi allI guess the idea was sitting it in the offset acct because you were saying you liked having access to your funds so if u were to get a home loan that would be your best option.
With a 100% offset account you would be equally beneficial in either paying 5000 off home loan or putting in offset depending on what kind of access you were after and the conditions/fees on redraw that your lender has.Tanya
Thanks very much for your advice Simon.
This website is fantastic, it’s great to be able to get advice from people like yourself.Tanya [
]on top of the cost per cheque, isn’t there bad tax on each transaction from the acct including cheques and all other transactions?
Quote:I guess, I’m a little behind the times. I just don’t like sitting at my computer and reading,I’m with you diclem, spend enough time sitting at a computer these days, need a bit of timeout sometimes! [8D]
Tan
Well don’t worry I’m way under 70 and I have been wanting to get a cheque book for a long time but was told they attract bad tax for every transaction you make from the cheque account, is this true?
Tan
Wow am I the only one in Adelaide?!!
Or did I miss one?
I live approx 10km from CBD, own investment property down south by the coast in fleurieu pennisula which is where I spend a lot of my weekends with friends and family.Tanya [8D]
Hi Simon
Thanks for your reply.
I know it was very longwinded, found it hard to tell enough of detail without drawing it out too much!
I have got the pro package with CBA so do get .5 off but Andrew will not on this 50,000 and we are not looking at refinancing with another institution.
Basically i just need to work out what the financial difference (extra interest paid)is between:
paying 5.79% interest (which will go up is standard variable does, stays 1.5% below) on $50,000 for the next four months
or
paying 7.07% standard variable interest on $50,000 for the next four months but loan interest would be charged on $130.00 less each month as savings would sit in there to offset.Thanks
Tanya
]Thanks very much.
]
