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It is Terry, the loan is an agri based one although the parcel of land I've bought should meet the Commonwealth Bank's requirements for the hobby farm category. I'm currently utilizing a private mortgage through a friend. The trust deed relates to the parcel of land owned by my parents who are...

Thanks guys, it's the same mob you mentioned Paul... I'll definitely get an opinion before proceeding.

Getting very close to signing documents and after the bank's legal department went through one of our trust documents they've come back saying that under the current terms of the trust there is no unlimited power to appoint an attorney with that power being limited to signing documents. They...

Read through this older post with interest, I take it that a few of the things talked about back in 2004 no longer apply with NAB? ie the compulsory xcoll? I've just run into their delightful 12 month reval policy this week, I've had the property for almost 9 months (subdivision, private...

Thanks Skater, that's basically my trouble, nobody around here builds sheds to rent them out, they normally fill them with their own machinery and then realise that they should have built it 30 foot wider. :-P I've asked a few people locally but nobody has really had an idea.

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Oddball question, wondering what sort of rent I should be charging for a 120 foot by 60 fully enclosed farm shed. (See attached pictures) I know it's a bit different but hoping somebody has a bit of an idea, was thinking around 100 dollars a week?

Question on behalf of friends in the shire of kalamunda in WA. They currently own a property that is large enough to subdivide in a battleaxe subdivision. The difficulty they face is that finance is fairly tight. Talking through some options with them the other day I was mulling over selling the...

Hi All, Recently purchased a small farm, http://somersoft.com/forums/showthread.php?t=97785 , following the advice of the conveyancer I put in an application for the FHOG. I received a letter from the commissioner this week stating that, "As you purchased the Property in a trustee...

180-200k if everything else added up, after talking to their manager I quickly came to understand why they are such a safe bank -they don't take risks. If your folks are with them you may do quite well going with Rabo, they bend the rules for children of existing client. Have a friend who has...

After knocking on a lot of doors we've gone with NAB, Rabobank were excellent to deal with and I gained a lot from meeting with the local manager however I couldn't satisfy they're minimum lend or lvr of 50%. NAB are lending at 70% in our area and were prepared to take into account motor...

Hi Terry, Yup, we did, took awhile to get it sorted as we had to avoid double stamp duty but all done successfully - and at considerable cost. Tobe, my understanding was that where a subdivision took place where there was some kind of consideration - in this case my employer, vals didn't...

Just a follow up, after three months of trying to make the deal happen I was finally able to do so through a friend who was kind enough to loan me the funds until such time as the title comes through. Settlement was last week with the property being held in trust until such time as the...

Thanks again for everyone's replies, gave me a much needed understanding of the challenges I was facing, hopefully we'll have it sorted by Wednesday. Another question I'm regards to valuing, the property I'm purchasing is around the 200k mark as part of the subdivision, it will be worth...

Thanks all for the replies so far, Brady, it has currently been lodged with the Development Assessment Commission by the surveyors. Is that the same thing or a stepping stone on the way to the LTO? Aaron_C, that's sort if whats being bugging me as I've tried to get my head around it, isn't the...

Hmm, so no real way around the issue? I didn't see it coming, mainly because I know of a number of ag type loans that have been settled on a deed of trust over a title prior to subdivision. So even though they'd have a title worth 430k to mortgage it would still be a problem?

Been lurking for awhile - lots of great info around here - but I need to ask some advice. Rural property totalling just over 400 acres has come on the market. I've agreed to purchase a portion thereof, approximately 107 acres which includes the house, sheds, improvements etc in conjunction...