All Topics / General Property / Buying off a friend

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  • Profile photo of Duane RekDuane Rek
    Participant
    @duanerek
    Join Date: 2016
    Post Count: 7
    April 5, 2016 - 9:57 am

    I have an opportunity to buy a 2 bed unit in Frankston off an old friend of mine. What should I look out for?
    I intend to get an independent valuation done as well as building and pest inspection.
    Are there any other steps I need to follow?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 5, 2016 - 10:30 am

    Just tread it the same as you would buying off a stranger. Make sure there is a full written contract and use separate lawyers.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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