At end of day landlord responsible to provide working toilet. But try to ascertain the cause. maybe tree roots? happened to me recently.

I know of one bank which indirectly allows borrowing of 100%, or even more. But you would need some money to get started.

I wouldn’t worry about them stealing your money in this instance as it would be you who would be borrowing their money with the bank taking the risk.

Hi Ross,

You don’t need title insurance, but it is good to have if something goes wrong. Do a google on “black v Garnot” . No way to protect against this sort of thing other than lodging a caveat on exchange.

Conveyancers really are just for ‘conveying’ the title. lawyers can do this but also have more extensive legal training in relation to property law and other areas of property.

What if the property you are buying is 'stolen'?

Or if a creditor of the seller where to put a writ on title after you exchange but before you settle such as in Black v Garnot? You could hand over the money and then not be able to register the title!

And, why are you using a conveyancer and not a lawyer???

Yes, as a lawyer I can set up SMSF and provide legal advice, and I am in the process of registering as a fin planner so I will be able to give financial advice and provide a Statement of Advice (SOA) as well (soon). I can also provide taxation advice and estate planning advice. And I can also provide Finance advice as a mortgage broker as well.

Which is online
http://www.justtax.com.au/documents/0010ip_bluejournalmay11wallisarticle.pdf

You could try house of wealth in Sydney CBD.

Hi Anthony,

Yes, I agree with much of what you had written. I had assumed you were talking SMSFs because you mentioned it above:

"Not many law firms have experience in depth in SMSF law because 99% only just discovered them."

I am a lawyer, but don't subscribe to the law society precedents (as I don't think they are very good).

I agree that accountants can provide limited financial advice. But I believe accountants are not able to give legal advice. The setting up of structures involves the provision of legal advice. Most accountants think they can get around this by just using a deed prepared by lawyers, but advising a client on the positions of the trust such as who should be trustee and how to structure the appointor, etc is legal advice. Would the standard accountant's PI insurance cover them for this if things went wrong? probably not if they are giving legal advice. So a client suing an accountant may be left with nothing to sue but a $2 company.

If a lawyer set up the structure and stuffed it up then the client would be able to sue the lawyer and the lawyer's PI insurance will usually cover them.

Yes, possibly.

That’s good. I was worried with you said ‘nominee’. Do must mean you are assigning the option whereas I took it as you were entering into a COS for land and then nominating another purchaser before settlement.