Forum Replies Created
- Originally posted by Pisces:
>>But when you both want to do different things, it’s trouble. One wants to sell, and the other doesn’t… then you have all kinds of exit charges blah blah…<<
Kay, you hit the nail right on th e head in what you said above.
Having a business partner is fraught with problems. One wants to sell so he can get his money out, the partner wants to keep the property for a longer time frame.
One partner loses his job (or gets transferred interstate and wants out) and problems arise.
Something unforeseen goes wrong with the property which means more expenditure than was anticipated
and there is another source for friction.Everyone smiles whilst things go O.K. but the moment something goes wrong the partners will start blaming each other.
Pisces
In my circle of friends and family, there have been some truly bitter experiences with business parterships.
Of those that have survived, some have been financially successfull, but none have been particularly happy affairs.
So totally agree with Pisces here.
Originally posted by Chan$:If I am not successful in shares trading
All the best, but watch those %#@!ing market makers Chan!!!! They have horns and a pointy tail![satan]
The same thing happened in sharetrading forums at the start of the bear sharemarket.
First, people get narky and argumentitive, then visitors start dropping off.
Sign of a bear market folks.
Westan,
Thank you for those kind words. I would like to return the favour by saying what a considered and balanced post you have posted. I totally agree with the points you raise…both on employment and SIS’s strategy
SIS’s strategy is fine for the share/futures markets where the transaction costs are now ridiculously insignificant. But in property where transaction costs and CGT are a major impost, I have doubts. Add to that the inability to effectively hedge yourself against corrections….hmmmm.
Alright I ‘spose in a raging boom, but market timing is difficult enough in an information rich environment like the sharemarket…very very tough in an info poor market like RE.
Cheers
Originally posted by Still in School:the trend is your friend….
…until it ends.
Originally posted by ez-rent:I don’t think its a buyers market just yet. Corrections almost always overshoot and then revert back to the mean. I’m not even sure that we are anywhere near the mean yet..
here here….well said EZ, this will take 2 – 3 years to play out.
>>Just had a friend who waited 8 months and then the deal fell over. I guess it depends on how many in the chain.<<
That would be exceedingly frustrating! Especially if you really wanted/needed that house!
I notice a few of the ads state quite clearly “no upward chain”. These would be a better bet for the investor…providing the house is suitable.
>>I have lived in the Uk and from what I can remember it is a long very complicated process in buying a property (not to mention it is 12000km away) over there.<<
Geronimo, are you refering to the chain setup over there? I understand this can complicate things, but I have some very close friends who are living and investing there at the moment(Basingstoke area)…they have mentioned this, but it hasn’t held them up too much. They have done exceptionally well.
Anyway, here is an interesting site I am considering subscribing to which attempts tp locate $+ve in all areas of the UK:
http://www.propertyhotspots.net/index.php…and a UK forum, with thanks to Aceyducey:
http://www.housemouseuk.com/modules.php?name=Forums&file=indexNow we’re talking!
The UK is a fantastic place for $+ve deals. But do be very careful about the area you invest in. Some areas are quite dreadful, with 0 prospects of CG and difficult to let.
The UK is where I will be investing. (Missus already has some over there
)Yack,
It doesn’t matter what Jenman thinks, or what you or I think.
What matters is the conditions on the authority of sale that the vendor signed.
As far as an opinion…Imagine if the agent was honest, and worked his nuts off trying to flog the house during the contract period. I would be happy to pay the commission in this instance and believe it would only be fair.
On the other hand, we all know that this is relatively rare…
I did not think it was possible for gaijin to own property in Japan. Is there a way around this?
>>can u not negotiate the terms of this document?? maybe we shld all start adding clauses stating that if the house is not sold within the period with wch the agent has rights to market the property, then the agent has no claim on commission’ or words to that effect.<<
Good point! I’m sure you can delete or add any clause you like, so long as the you and agent initial the changes. Getting the agent to agree? Hmmmmmmm that could be an interesting negotiation LOL
Yeah, and besides that, the government needs the money to bribe you to vote for them.[fear]
Good question, I have pulled out the form from my files and had a look. This is the REIV form, I don’t know about other states.
Commission is due if the property is sold:
3.3 after the expiration of the authority period for to a person introduced to the property within the authority period (whether that introduction was by the agent or by another person) and to whom, as a result of that introduction, the property is sold.
Note that there is no time constraints :o
Aussie
In the exclusive authorities I have seen (REIV Exclusive Authority) the time period only indicates the period of exclusivity.
The rights to commission to are not extinguished by the expiry of the exclusive authority (if agent introduced the buyer to the property)
In fact, I believe the authority(but not exclusive authority) continues, unless terminated in writing, or a another exclusive authority, with a different agent is entered into.
I’m not saying I agree with this, but that’s the way it is.
Some insurances are outright scams.
But in this outrageously litigious society, I wouldn’t be caught dead without public liability and/or professional indemnity insurance.
It depends on what type of authority was signed with the agent. I think you will find if was an exclusive authority, there is a clause that covers this.
Beware! RE agents tend to be a litigious lot over these issues…Jenman is right, they can, and probably will sue!
I help make stockbrokers rich[rolleyesanim]
Hi Cremin,
It is a matter of raising rents as time goes by, but it is not a matter of ripping people off.
It is a function of inflation. In ten years time the average wage might be $80k, a loaf of bread might be $4.00 and a Hyundai Getz may be $30k.
The rent will have increased in line with that, but your repayments will remain the same(assuming steady interest rates).
Cheers
Hi,
“Eat, drink, and be merry, for tomorrow we die!”…errr, well, maybe tomorrow will come after all…better stash some loot, just in case LOL
)
