Search results

Hi all, The unit above my rental property had a water leak, which caused some water damages & marks on my ceiling. The property is in NSW. The strata manager has already sent someone to fix the unit above but she says I'll need to claim from my insurance to get my ceiling fixed. This seems...

Hi all, The strata committee where my IP unit is, wants to replace a rusty garage door. The property is in Maroubra (Sydney), so have some corrosion due to close proximity to the sea. The cost is $14k, which will be divided up to about 13 units through a special levy. The garage door is...

Hi, I bought a unit in mid-December and the agent confirmed that the contract has been exchanged and the deposit already banked into the agent's trust account. My solicitor enquired about the signed contract just before the Christmas holidays and was told it was in the mail. Then my...

Hi all, I just exchange contract for sales of my PPOR to a large institution. Soon after a notice of caveat was sent by their solicitor for my property. My solicitor says it's OK but I'm just wondering why my buyer will need to lodge a caveat for the property? Wouldn't the sales contract be...

Hi all, Looking to buy my PPOR (house) and currently attracted to Lower North Shore, seems like better value for $ compared to Eastern Suburbs where I've been living for past 10 years. Also, had a look at Inner West (Drummoyne, Hunters Hill, etc), love the views but not the aircraft noise...

Hi all, Someone approached to buy my property through my agent, while it was rented out. Its my PPOR now but the negotiations have got to a serious point where it will could go ahead. As they approached my agent, he has taken the liberty to quote 2% + GST selling fee even though I've not...

Getting 2 different advice on this: 1) Bought IP slightly more than 2 years ago and rented out for 2 years. 2) Moved into IP over 1 month ago, so now is my PPOR 3) Have an offer to buy the property. Agent tells me that I would be able to get CGT exemption (6 year rule?) if I continue to...

Have a friend contemplating buying a house in Eastern Suburbs but most likely to be priced out from Bondi & Coogee area. Her strategy is to renovate, stay in it & sell it or rent it out in a few years time. My thought would be to go for properties near Randwick Junction area, but have an...

I thought I read somewhere that a valuer would generally have a price range for a property, then the reported price is within that range. Is this true? The reason I'm asking is that one of my property got an offer from an organisation, which I believe is based on their valuer's report on my...

Hi all, We just got the docs from the bank for our refinancing. Our first time doing it and we have all 3 properties refinanced with the same bank. We were surprise to see that we'll have to pay for stamp duty for all the 3 properties. Our broker didn't warn us about it, and seemed to defeat...

Hi all, Been talking to my broker about refinancing my wife & my properties, which is currently with 2 different banks. My broker says it might be worth considering different banks (to those that we are using at the moment) if the discounted rates are about the same, as the existing banks may...

Hi all, If I'm renting out a 3 bedroom unit, how many keys do I need to provide? I'm thinking just 3 sets, although the max allowable number of ppl that can live in is 6 (PM put that in without my knowledge). Cutting keys are not expensive, but the unit have secured swipe cards which are...

Hi all, I'm planning to move from my current PPOR to my IP and convert my PPOR to IP. Can you please confirm on the following? 1) I should get a valuation for the purpose of CGT for my current IP that I'll be moving into? 2) The valuation should be done on the date of the conversion...

Hi all, My tenant is moving out this weekend and after 2 weeks of advertisement and some open houses, my PM still hasn't found any tenants. The property (a 3 bedroom house) is in Sydney and I understand that winter maybe sluggish to find tenants. My PM has suggested perhaps dropping the...

Hi all, I've started looking at units again after last searching about couple of years back. Suburbs that I'm currently looking are Ashfield, Kingsford, Macquarie Park, Eastwood & Marsfield. What surprises me was that 2 bedroom units in all these suburbs seemed to have increased quite a...

Hi all, There's a thread that discussed PPOR to IP revaluation, and it seems that if I was to convert my IP to PPOR, no revaluation is needed and CGT is calculated based on time the property was an IP. Does anyone know the justification on why the CGT is calculated as such? If, during the...

Bought my property end of last year and is due for settlement early next month. I gave the selling agent to look for tenants for the property as he was claiming he could easily find tenants while closing the sale (no surprise). With settlement due in 3 weeks, the property is still not...

Hi all, I'm buying a new IP and is using my PPOR as a collateral. Just wondering how the bank will calculate the amount I could get from my PPOR for the IP. PPOR: Purchase $555k Owe bank $444k Bank valuation $660k I am under the impression that I could get 80% of the difference...

Hi all, A friend of mine recently purchased a 2 bedroom unit with LUG in a suburb near a university. He bought it as his PPOR but is not keen to stay there for long (just for the minimum of 6 months required to get FHOG). He estimates that as an unfurnished unit, it could fetch around $400pw...