Recent content by Terryw

after paying cash for this how much extra cash would you have? probably still not good idea to pay cash for a property i think - even if very wealthy. i would gift the cash to a discretionary trust and borrow it back . the spouse least at risk should borrow and go on title.

yes probably like that.

Post usually

Interst is calculated daily with most lenders. So paying daily will save u interst

That is similar to the refinancing principal. Not sure if a trustee could borrow to make a distribution of capital and cLiam the interest though.

you must be asking if you can claim these costs? how does the furniture relate to producing an income? if you are renting the house out furnished and charging extra for this then u may be able to claim those costs in full.

unless your sister established it as her main residence and she is not counting another proerty as her main residence overseas then she will be up for cgt on market value. since she is a foreign resident the rate of tax is likely to be much higher than normal.

heaps of tax issues. the main one being it won,t work

bare trust

tax deductibility on a pi loan wont complicate things at all. you have no private debt so paying pi wouldnt be that much of an issue either. what interest rate u paying now?

since your loan balance is nil i think it generally ok to use redraw. just becareful to maintain deductibilty by avoiding the money passing thru other accounts. this is for the deposit part. for the main loan you could have pi or io, whatever u think best suited to your style. its probably...

you probably still bound. there is a recent wa case concerning a finance clause issue and it wasn't good for the purchaser. speak to your lawyer asap.

Thats about it. You should also get your finance fully approved during the cooling off period. Maybe try to negotiate this to 2 weeks - but this could work against you if the other potential buyer is offering 5 days, or even no cooling off.

A lot of agents talk about putting down a 'holding deposit' but this holds nothing and is meaningless other than it shows you have some interest. The standard contract has it that the full 10% contract is normally paid on the making of the contract (cl 2. something). But this is also...

Yes, you should really get a valuation, otherwise you won't know, really, if you are paying too much. You cannot rely of the bank's valuation either as this will be done after you have a contract in place and a known price. The trouble is timing though. If you do a valuation before exchange...