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I think that refers to stamp duty on the mortgage, not stamp duty as in land transfer duty.

I thought all property on Hamilton Island was owned by one corporation and that property is usually acquired on a long term lease? I could be wrong tho...

Matthews Hill area. I believe anywhere close to the Sunshine CBD would also be good considering the train station upgrade and being close to facilities.

Thanks all for your responses. It makes more sense now.

What is usually involved when purchasing an apartment (that is currently being built) from a seller who initially purchased from the developer direct? Since the seller has nothing physical to sell is it a matter of changing the contract so that it is between the developer and new purchaser?

A buyer wouldn't usually pay the agent fee (it's a seller's cost) nor would I compensate for the lost interest. Additionally, there would be some stamp duty to be paid if construction has begun already.

I can only think of if the driveway was damaged and needed to be fixed would that need to be covered by the Common Areas Contents part? Or would that be covered under another part of the insurance?

Our IP owners corporation insurance is up for renewal soon. We own one in a block of 3 townhouses where the other two townhouses are owned by the same people (who we purchased from last year). A couple of questions: 1. Who should the insured be on the policy? Would this be the Owners Corp...

Thanks Crido. Yep, I had selected Equity as the source of funds but hadn't put in a % for the equity.

I've just recently downloaded the trial version of the Property Investment Calculator and I noticed that in the 10 year forecast it didn't calculate the interest on equity funds used at all. Wonder if this is a bug or limited functionality in the trial version?

With the current low fixed rates available I'm currently trying to work out whether it's worthwhile switching, either to 2 or 3 years fixed rate. Would appreciate some advice please. We currently have 2 properties, PPOR worth $415k, IP worth $400k with loans about $665k. The loans are not...

Terry, thanks for the explanation but I think I'm having a slow day! I thought that even though John put money into the offset account it was to repay his credit card expenses related to the IP and therefore it would still be deductible? Does this mean that how the funds are accessed is as...

Sorry for dumb question, but can someone pls explain to me why the LOC is contaminate since the LOC is being used for all IP expenses?

I disagree, it is reality. At the auction today the question was asked how much deposit is required today and the agent said $1k with the balance of the 10% to be paid next week.

The 10% is not necessarily required on the same day of the auction. What can happen is that a holding deposit is provided on the day (say $1k) with the balance of the 10% to be provided at a specified date. Settling within the specified period is not an auction only requirement. True, that...

I understand where you are coming from but just because I have no experience bidding under auction conditions doesn't mean I should avoid them. Surely the best thing to do is to gain experience through attending and participating in them. Auctions are very common in Melbourne. Yes, I will be...

I recently put down a deposit on an offer and the real estate agent only accepted cash or cheque. I imagine the merchant fees would be huge if they accepted credit cards or paypal. Isn't there a limit on money orders?

I had no intention of making things easier for the vendor but unfortunately I only thought of this scenario after I'd put in the offer. Also my thinking was that I would have attended the auction anyway and if I was successful would not have been able to put in special conditions on the...

Ok, this sounds simple enough! If our offer doesn't get accepted by noon tomorrow I'll withdraw it and see how we go at the auction.

Thanks. I'm just trying to work out whether I've made things easier for them because if the auction doesn't go as well as they hope then they still have the option of acepting our offer as a backup plan.