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  1. tempura

    Termination of Notice ... can someone please explain?

    Not sure which one we will fall into .... The property was sold to us half way the tenancy and you are perfectly correct, this tenant lease expiry is mid April 2015. 30 days - if the fixed term of the agreement is due to end 30 days - if the premises have been sold after the fixed term...
  2. tempura

    Termination of Notice ... can someone please explain?

    This is exactly what we intended to do. So, are you saying 120 days are not applicable to us? Quoted from http://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Being_a_landlord/Ending_a_tenancy/Giving_a_termination_notice.page The minimum period of notice you can give the tenant...
  3. tempura

    Termination of Notice ... can someone please explain?

    120 days is still achievable, considering December 2014 is still in the future and not past.
  4. tempura

    Termination of Notice ... can someone please explain?

    Thanks Chris! Funny that the agent advised me to put on diary for February 2015 for notice of termination. Why would he said such thing? How would this benefit him? Does this mean that I need to issue separate notice of termination to the tenants? This sounds a bit weird, considering I'm...
  5. tempura

    Termination of Notice ... can someone please explain?

    Very noob in this sort of situation. I'm the landlord and I just signed up an Exclusive Management Agency Agreement Residential (Short Version) REINSW. In the Agreement section point #2 ... The Agreement shall commence on the blah and may be terminated by either party giving not less than...
  6. tempura

    strata fee - special levy

    No one commented on concrete spalling? Is it really that common in old building?
  7. tempura

    Making offer then do reports

    guys, if the building shows sign of concrete spalling ... i believe OC would be responsible to investigate and fix root cause. what if the unit i am about to purchase, shows crack to the living room wall at the balcony door (the cause of which should be investigated) and the shower alcove is...
  8. tempura

    strata fee - special levy

    a very simple question, i hope some lights to be shed on. building that I am about to purchase a unit on, has shown extensive concrete spalling. there are 20 units in the building, so special levy would be 120,000/20 = 6000 per unit. I don't mind forking out this money to get it fixed ... BUT...
  9. tempura

    Making offer then do reports

    Agent seems to be creating all sort of obstacles to ensure valuation didn't happen. At one stage, he mentioned that the tenant is only available at 8:30 pm ... Today, he stated that he picked the wrong key to the unit ... I am fully committed and full steam ahead with this purchase, but...
  10. tempura

    10% deposit - auction

    I don't know whether the vendor has signed or not, as we do not have visibility of that. All we know is that we have signed and have paid 10% deposit and put in 66W. I understand vendor may not have sign hence contract exchange has not happen as yet. From those scenarios above...
  11. tempura

    Valuation

    RP Data Valuation from The Bank (CommBank).
  12. tempura

    Valuation

    when I requested valuation from my bank, she asked "how much do you think you are going to purchase this property for?" in another way of paraphrasing the question, "how much do you think the property worth?" Why does the bank ask this question? Will my answer influence on how the value...
  13. tempura

    Making offer then do reports

    This would only work in slow market, where in the open inspection there is only 1 or 2 parties visiting; otherwise, if 50 groups are present in the open, there is no way you be able to do all due diligence. you'll just get stumped by other buyers with their silent bidding.
  14. tempura

    10% deposit - auction

    correct me if i'm wrong but to buy a 100 sqm property worth say 500K via auction, the liquid required would be: 10% * 500,000 = 50,000 (10% deposit to agent). 10% * 500,000 = 50,000 (10% deposit to the bank). Stamp Duty Fee Solicitor Fee would that be accurate?
  15. tempura

    Auction

    boys, if the strata manager in the contract of sale is not up-to-date and it is not the valid strata manager for the unit, will it be an issue at any stage i.e. contract exchange, settlement, etc ? the strata inspector just came back to me and mentioned the strata manager is not accurate and...
  16. tempura

    Noob - buying property with tenant

    Will do, Jamie. thanks thanks all for the input.
  17. tempura

    Noob - buying property with tenant

    Tenant's rental contract expiry is June 2015. What will happen to how the tenant going to pay the rent fee, in terms of my bank account instead of the original owner bank account etc) ..... is this something that will be organized during contract signing? Apology for the stupid question.
  18. tempura

    Auction

    Option #1: if we are to submit strata inspection, valuation, building & pest, the risk is our offer will be gazumped by other buyer, which means higher purchase price. Option #2: if we are to go ahead with $800k offer and 66W, the risk is $80K if we are to cool-off; it?s like buying a cat in...
  19. tempura

    Auction

    meaning that all due diligence need to be done first before signing the contract, which potentially leave the room to be gazumped by other offer?
  20. tempura

    Auction

    house was put on auction ... agent said the only way to sell the house prior to the auction is no cool off (66W certificate) with 10% deposit. is this the case? total bull crap or all honesty there?
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