Recent content by Dwib

Hi, Was wondering where I can obtain the daily number of vehicles that use a road. Want to use the data for further support of a commercial property I am hoping to purchase. Regards Dwib.

Hopefully the final update. Friday afternoon the property settled to my relief. Would like to thank all those who commented and gave their opinion on how to proceed. If you guys hadn't contributed I think this one would have got away from me. Thanks again Dwib.

Thanks for the email Svergy. Looking back I totally agree with you with respect to the standard time frame of 28-30 days. We initially had that in the contract however when we went to resign the negotiated contract the REA crossed out the 28 days and said we'll put in 14 days and asked me...

Just to give those people interested an update of what has occurred over the past 4 -5 days. After Willy1111 enquired about getting another solicitor I made a few calls to solicitors in Brisbane and explained the situation. They said they could proceed with the settlement. I had to fax them a...

Thanks Ross and Willy1111, Ross - the offer isn't unconditional as yet. So I assume I can still back out and lose a portion of my deposit. If I remember correctly it's 0.25% of the sale price which isn't great either but far better than losing the entire deposit. But I don't want to back out...

Hi JRC, Yes that's correct. Our solicitor was on holidays from the 21st December. Have tried contacting them but no luck. We withdrew our original offer on the Tuesday prior to Christmas. They rang the next day with a lower price which we accepted. Tried ringing her the following day...

Hi Y-Man, Yes I beleive the backup contract does exist. Actually I ran into the guy who lodged the backup contract the day after boxing day in the REA office. So I am pretty sure it does exist. I guess I will find out when I request for an extension.

Thanks for the reply Chook. I would love to get an extension however as there is a backup contract with a higher offer I would dare say they will not grant me an extension. Therefore judging from your previous experinece it is going to be a real squeeze to get it all done by the 9th January.

Hi Rolf, Hope you had a great Christmas and New Years. No the contract is not unconditional as yet. The contract was signed on the 27th Dec. As I understand the contract has to go unconditional 14 days after I signed the contract. This so happens to be the same date as the settlement...

Hi All, Do I or a representative of mine need to be present for final settlement on a property? The property is in Brisbane and settlement is due on the 9th January. My solicitor and I are not based in Brisbane. Is this a concern? There is a backup contract (with a higher offer) on...

Hi all, Once again thanks for the further comments and support. I am not sure if I explained our finance structure but the three of us (Brother, girlfriend and I) are all using the same loan. My girlfriend and I have one LOC for our property investments and my brother has his LOC for his...

Thanks for everyone's comments. Les, You mentioned DSR figures. I am assuming that stands for Debt to Service Ratio. What other figures do you you require to calculate the position? If we were to un-cross collateralise I imagine the structure would look something like: Property 1...

Hi all, Been awhile since I have visited but I was prompted to revisit and pose a question to you with respect to un-cross collateralising our property portfolios. It's slightly more complicated as there are 3 parties involved in the loans. To lay out the history my brother and I bought a...

Can you get 80% LVR for this unit? I recall looking into buying a unit sometime ago and the bank said that if the units was less than 50sqm the maximum they were willing to lend was 60% LVR. Can you get 80% LVR from other sources? Didn't read the original add so I'm not sure of the size of...

Enough Equity? When do you know you have enough equity for a loan to stand on its own? For example if you have used your PPOR as security for a IP when can you use the IP, alone, as security? And remove the PPOR from the banks grasp. Is it when you have 20% equity in the IP? Thanks...