Hi Ben

As Terry says, Tony Cordato is the man:
Cordato Partners
Level 5
49 York Street
Sydney 2000 (near Wynyard Station)
Ph (02) 8297 5600

The following may also be worth a read:

Should All Home Buyers Get ‘National Credit Code’ Protection?

Cheers, Paul

Hi Ben

I have no argument regarding the information given in the posts above. However, when it comes to the “consumer marketplace” things become quite grey. Rulings in courts and tribunals seem to rely much less on what’s written in the legal paperwork, as against what is fair to the consumer.

For an indication on how various consumer advocate…[Read more]

Hi Ethan

The following may help:

Should All Home Buyers Get ‘National Credit Code’ Protection?

In short, I believe that, if all home buyers using traditional home loan finance get the protection of the National Credit Code, then all consumer, residential home buyers should get this protection, no matter what…[Read more]

Hi Robert

As you are leaning towards Victoria it may be best to utilise an Instalment (Terms) Contract for the on-selling of the property you buy/build. This is because VIC is unique in that it doesn’t charge Stamp Duty until the Contract of Sale “settles”. In other States, Stamp Duty is payable within a number of days after “exchange of…[Read more]

Hi Robert

A couple of links that will help to get you going with Vendor Financing are:
http://www.vendorfinancelawyer.com.au/ and
https://vendorfinanceinstitute.com.au/category/blog/

It’s worth noting that a number of consumer groups and other “powers that be” are pushing to get Rent To Buys (Lease/Options) banned in the consumer/residential…[Read more]

Hi Scott

Yes the FBAA Vendor Finance Meeting in Brisbane is still on next Thursday, algeit a a different venue from the last one. Full details and registration are available at: CLICK HERE

Also, if you’d like to keep up to date with happenings in the Vendor Finance Industry, take a look at the Vendor Finance Professionals FB group. It can be…[Read more]

Hi All

If you are thinking of coming along don’t delay as there are only a few seats left. It’s looking like another sell out which shows just how many people are interested in bringing Vendor Finance into the mainstream.

Hi CW

I am currently a Responsible Manager for both our ACL’s and have recently resigned from another Responsible Manager position I was covering for a third party due to various concerns.

How do you see such an arrangement working? Please PM or email me.

Cheers, Paul

Di Daniel

First up, may I suggest you have a look at a page on our website, entitled ACL Coverage; CLICK HERE

Then give me a call, as there may be a way of structuring the transaction so you are not the credit provider. It is worth remembering that , if someone is simply disposing of an asset, e.g. one property, they may not be seen as providing…[Read more]

Happy to chat.

Cheers, Paul

Hi Steve

Terry’s recommendation is spot on, i.e. Lewis O’Brien is, in my opinion, the ‘go to’ vendor finance solicitor in Vic.

However be very careful of Victorian state legislation regarding Lease/Options and Stamp Duty. Unlike most other States of Australia, Stamp Duty in Victoria is not normally payable until Title transfer occurs. In most…[Read more]

Hi JBC

Yes we’ve been running our vendor finance business since 2003 and went full time in 2009.It’s been a pretty lazy January ;-) but we’ll start marketing again at the beginning of Feb (have got 4 to sell).

Vendor Finance has been fighting it’s ‘cowboy’ reputation for some time now but a combination of new legislation (the NCCP Act 2009) and…[Read more]

Hi weathjess

I like the ideas here regarding the retention of this property. As a number of people have mentioned, there does seem to be an opportunity to do something with the hospital.

However if that doesn’t work out, you may get some ideas regarding a long distance ‘negative2positive’ vendor finance sale at CLICK HERE.

Cheers, Paul

One of the best reads I’ve found regarding licensing, specifically for vendor finance, was written by Tony Cordato. It can be found via CLICK HERE.

Cheers, Paul

Hi JBC

Knowing Jason personally and knowing how long he’s been in the industry I’d suggest you take his advice to heart ;-)

Back in 2003 when we started in Vendor Finance (VF), marking up a property by 20% over market price was the standard. How things have changed! Our standard way of pricing a VF sale these days is to do an auto-valuation on…[Read more]

Hi Lejo

We write our Terms Contract (Instalment Contracts) to mimic traditional home loans, i.e. they have a 30 year term with a variable interest rate. Therefore, if you make your regular payments over 30 years the loan will be paid out.

If for some reason you could you cannot continue to pay a traditional home loan, the property is put up for…[Read more]

Hi Jimmy

Hopefully the following link to a media release from the FBAA (Finance Brokers Association of Australia) can help to start to clear up the ‘shady’ image: CLICK HERE to view the media release regarding Vendor finance.

Cheers, Paul