Update - so CBA risk refused to get a second valuation.
Have gone to plan B via a broker. Quick question for the brokers on the forum - the bank (big 4) who we are now progressing forward with wants me to pay for the valuation as 'long form' is required. Will cost a couple of grand. Is it...
Hi, does anyone have any recent experience in selling residential inner city Melbourne? Property value is around $1.3-1.4m and the agent I'm talking to is looking at a structure (either (1) fixed higher % or (2) lower % plus incentive above a certain amount) to deliver a base fee of just below...
I understood it was this way too.
ATO suggests pro-rata is correct - there is a worked example at the bottom of this page https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Real-estate/Treating-a-dwelling-as-your-main-residence-after-you-move-out/
Thanks all - some very good tips here.
LVR is below 80% (bank requires 75% as value >$3m), no cross-security etc. - just don't want to tie up an additional ~10% of my capital for no reason.
The bank is ordering another valuation. I have 3 months to settle, so will let the process run...
Long time reader, first time poster.
Hoping for some advice/experiences in dealing with a bank valuation that has come back below the contracted price. Short story is I bought a place in Melbourne at public auction a few weeks ago. There were two bidders - a buyers advocate and me. We pushed...