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  1. M

    Off the Plan Purchase (gone wrong)

    You are able to renegotiate if the developer is commercially minded i.e. if he weighs up the costs to sue you and the risks he may lose then a settlement is possible. If you say no then the only option he has is to go to court and no-one likes that option because of the costs and the associated...
  2. M

    Building Report Not So Good

    Hi Willair - it sits on a bit over 600 sqm Cheers Mick
  3. M

    Building Report Not So Good

    Thanks Stumunro. Some defects are repairable but the alignment of the walls and ceiling is apparently not repairable - I would think any renegotiation would be on the basis that I pay for the value of the land or very close too
  4. M

    Building Report Not So Good

    Hi Guys, I was just after your view on a Building and Pest Inspection Report I just received. The report says that 11 of the concrete stumps need replacing as they are severely cracked, the shed out the back needs major renovations. the floor of the house is not level and he recommended a...
  5. M

    Off the Plan Purchase (gone wrong)

    Thats a bit of a generalisation mate. Not ALL lawyers are like that ;)
  6. M

    Off the Plan Purchase (gone wrong)

    And in this case the shortfall sounds like around $100k. Also consider that the cost that a court awards are generally 60% of the solicitor/client costs. Therefore if the costs awarded were $100k then the purchasers legal costs would have been approximately $170,000. Therefore if you add the...
  7. M

    NEW MORTGAGE RATES (need broker!)

    Thanks Rolf - I will be having a very interesting conversation with my mortgage broker if I ever do need to break - the advice I received was that the "only" break cost was a maximum of $1000 which became proportionally less over the life of the fixed period. I will go back and check this advice...
  8. M

    NEW MORTGAGE RATES (need broker!)

    And if the rates turn around to a great extent you can always pay the break fee which appears to be a maximum of $1000 (reducing over the term of the fixed period i.e. $500 after 21/2 years) - I can't see the down side to fixing myself, particularly in the current climate
  9. M

    NEW MORTGAGE RATES (need broker!)

    I have been advised by my broker that St George are putting their interest rates up tomorrow. You can lock in at 8.29% fixed with a potential 0.14% reduction for fives years today. I'd rather have a consistent debt rather than a fluctuating one but thats just my opinion.
  10. M

    Will Australia's next property boom be the greatest boom we've ever seen?

    Steve you are wrong because not ALL people say things like that :D (sorry I couldn't resist)
  11. M

    Depreciation - Self Evaluation or Schedule?

    Thanks Guys - I will send Scott a message :)
  12. M

    Depreciation - Self Evaluation or Schedule?

    Hi All, I have a contract on a post war 1959 place at the moment and I understand that I can't claim any depreciation on the building itself but it has a recently installed new roof, a new small deck at the rear, new carpets in 3 bedrooms and I will be installing a new kitchen, new tiles in...
  13. M

    New Budget Kitchen

    Thanks Cougar - the current kitchen is too damaged to re-use - i did think about it but the benchtop is some weird stone type substance that is falling to bits and the cupboards are falling about due to water damage. There were no splash back tiles and I think this contributed to that damage...
  14. M

    Methods to reduce gap between rents and repayments

    Tax variation so you get the extra money resulting from your losses in your pay packet. Cheers Mick
  15. M

    $400,000

    Thanks for all the advice guys. I ended up buying in Banyo for $370,000 on a 607 sqm block within walking distance to the train and local shops. 3 bedrooms and I am replacing the kitchen. I think its a great buy :)
  16. M

    future of marrickville or ashfield?

    Mate in reality you cant go to far wrong in the direction you are heading so trust your own instincts and you will prosper
  17. M

    future of marrickville or ashfield?

    Nothing can compete with your own research mate. The only thing standing between you and prosperity is doubt
  18. M

    New to property investment - Where and How?

    Seriously Alex, you must be the most negative and pesimistic person on this forum - look for the good mate and caution the risk .... not the other way around
  19. M

    12 month lease not 6!

    Mate, be polite but assertive...you deserve what is coming to you (or what should have been coming to you)...
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