Recent content by AdamT

If she was to sell the property to a trust I am assuming we would need to pay stamp duty? Can she sell it to the trust for $1? I'm assuming the stamp duty will be calculated on market value if she does that anyway. Also, with commercial finance. Is the equity in the property included into the...

The only reason my cousin and I are talking about entering into contracts is because our grandmother is an old age pensioner and I assumed no finance company would entertain her.

Yes - I have considered the option of flicking the property to a developer with a DA on it. I am about to send out some emails to local agents about this in order to gain an appraisal on post-DA value. My only concern is that it leaves money on the table that my grandmother could have in her...

Yes - We intend to pay out the loan in full once construction is complete and the properties are sold. As we won't be earning an income from the asset whilst it is being constructed, I don't want to hammer my cash flow with interest repayments.

What if my cousin and I entered into a joint venture with our grandmother (land owner) and obtained finance under our own names? Would that get around the PoA issue? The property is no longer her PPOR as she is now living with my father as she doesn't want to be alone. My uncle is residing int...

Thanks for the responses so far Grandma is indeed alive and well, but she is slowing down a lot and has recently moved in with us. She spends 6 months here in Sydney and 6 months in QLD with her niece. Power of Attorney was originally granted to her two sons (my uncle and dad) but as those...

Hello Everyone I am looking for some ideas on where to find an experienced accountant and/or solicitor to handle my grandmothers estate. She has instructed me under power of attorney to develop her 900 m2 block of land in Eastwood NSW and sell them off. She is 80 years old and is an old age...

Hello Everybody :) I have been lurking around the forum for a month or so now but decided it was time to make my first post. I have a 900 m2 site in Eastwood, NSW which currently has an old red brick house on it. I am about to submit a DA to subdivide on Torrens title and construct 2 x 4...