Thanks for your replies.
Staying away from this one.
Although the property is well under market value, I myself like a little bit of return to help with the repayments.
The couple are in their 70's by the way.
Im selling an IP for the first time and just wanted to know what you have to pay in regards to GST and capital gains tax.
Say i sold the property for 260k.
260k - 10%Gst (26k) = 234k
234k - 6.5k (2.5% agents fees on total sell price) = 227.5k
227.5k - 190k (loan) =...
I would stay away from Blanco just from my own experiance. Had it repaired in warranty 3 times. Just after it ended it stuffed up again and will cost aroun $600 to repair. So time to buy a new one and was thinking about the westinghouse or asko just from friends reccomendations.
Just come from 2 Auctions...1 in pratt ave frankston south....2nd in violet st frankston south. Pratt sold for 356k & violet sold for 730k.
The thing that amazed me, was that it was a young asian couple (mid-late 20's) who bought both of them. Not a bad amount to go shopping with.
Actually sold my house this week....it was only signed up for about 2 days and sold for full asking price (near Rosedale Gve). So very happy.
But yes..some agents do up the value in order to get the listing.
I know sycamore really well...my parents live on Lawson Av.
I thought myself it was around the 15% just going on my house valuations...and when i mentioned it to Andrew...thats when he said the 19%. Mine was valued around the 410 last september and now is around the 480/490.
Im only new to all this anyway...so just still learning.
Pretty sure Frankston has gone up around 19% since October/November last year! Quick gains. Funkytown is looking great...hence why i just bought a property, beach side of Kars St, last week. Bit of work needs to be done...but good spot.