Hi,
I’m about to put a deposit on a parcel of land(this is my first time doing so).
he developer has mentioned that I need to put a deposit down and have the ability to onsell or to build on it.
My question is, do i need to go through accountants/legal advisers when the time comes for selling in a few months time?
The other factor to this is that my current work is overseas and unable to do the run around in Australia myself.
To my knowledge when selling, in terms of fees, there will be double stamp duty, agents fees, capital gain tax(if any), is that it??
But my main concern is the whole process if someone point it out, i would really appreciate it.
camel_81
To be honest I wouldn’t be entering into a contract to purchase the land but rather a Call Option which will avoid the stamp duty issue (In most States).
The Option has the terms of the purchase contract contained within it although the purchasers name needs to be nominated.
This way you pay an Option Fee and when you ready to settle merely nominate the purchaser who could be the individual or entity to whom you have onsold the property to.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.Richard Taylor | Australia's leading private lender
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