Making an offer would take about as much time as writing this post. What have you got to lose? – a few thousand dollars if you don’t.

Terryw
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There is no correct asnswer.

Why no lok for one that provides both cashflow and capital gains. they do exist!

But if you are unemployed, getting finance will be the biggest hurdle you have to get over.

There are No Doc loans which you could use, but often regional areas are not acceptable locations for these. There are also minimum loan sizes, so with a small deposit like that will make it hard.

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Trusts are not legal entities, so they cannot purchase. It would be the trustee that signs the contract. If an a company is trustee, the director would be signing for the company.

I suppose if the original person is a trustte, or director, then it was the agent that introduced them, so the agent could claim for commission. Read the contract you signed as some may even allow a commission after 3 months if it was a client they the agency introduced.

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There may or may not be a general property slump at the moment, But i have had a few recent clients that have purchased way under value. One client paid $400,000 for a place that valued at $750,000. So it doesn’t really mater what the people say about prices and the market, bargins are still out there.

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Spouses can generally be added to the loan even though they are not on title. In such cases, their incomes and liabilites will be taken into account.

Generally this cannot be done with third parties, including parents.

If you can’t borrow because of the personal loan, maybe your dad can assist you in paying out this loan or adding to your deposit so you need a smaller loan. He could secure a LOC against his own property if he hasn’t the cash.

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The bank valuation should make sure you are no overpaying. I personally am not too worried about yield if there is potential for capital growth. Especially when getting vendor financing. Sounds like a good deal.

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You can get a trust deed for about $135 at http://www.cleardocs.com.au
You will also have to pay stamp duty on the deed, which varies from state to state, in NSW it is $200.

Trusts should cost virtually nothing to run. just a tax reutrn each year.

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I think you should ask your other questions to your solicitor. I would suspect that you could have up to the last minute to withdraw using the finance clause. You can try to negotiate an extension, but not always succeed. Banks often don’t give you an answer in time, so you have some tough decisions to make.

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I think you will find LMI will only be partially refunded if you sell within 6 to 12 months of the loan settling.

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Hi

I was at the weekend seminar too (and enjoyed it). But I have to agree with renos comments. When valuers are valuing residential property, they use comparable sales data. ie they look at what similar properties sold for in the same area. comparing position, number of bedrooms, improvements etc Rental yield would only be one small factor.

If you could put up the rent by converting a living room into a bedroom, then it would help as you are creating an improvement. But putting up the rent simply because you found a person willing to pay more would have very little effect on value. This is especially so for bank valuations, however it may help slightly if you are selling to an investor-especially a cashflow investor.

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