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Very true. I am extremely confident of the exemption though. And in worst case scenario my son pays $6k more in land tax but the vendor does not get an undeserved 30k!!! These exemptions are meant to benefit low income earners, not multi-millionaires. Terry- you must write a book. A...

Fabulous!!! Terry- you are worth your weight in gold. I will be in contact for all my future transactions because I am so fed up with my solicitor/conveyancer who has no idea. The vendor tried to demand settlement today, with my son paying 80% of the land tax bill (30k). As the property...

My son is purchasing a boarding house in NSW that is land tax exempt. To get the exemption, however, the owner must apply to OSR each year with a stat dec stating the property is a BH and will continue to be a BH through all of 2015. The vendor has already applied, but the OSR have not...

My daughter in law is looking to purchase a commercial property. Can anyone recommend a good solicitor in NSW to conduct the conveyancing?

Does it depend on the loan size though (I.e loans > $1m). Or is it just dependent in the lender as long as below 80%? We went with ANZ and they ordered a full valuation which came in 20-25% below desktop value.

Are there any lenders who do refi up to 80% based on desktop valuation price only? I have recently had the experience of a WAY below market valuation and whilst it didn't affect the deal (still < 80) I would like to know in future what lenders I can consider who will refinance based on...

Good idea Sometimes I tend to overlook the obvious. I remember back to GFC when I fixed in a rising rate environment at 9% and then rates fell to 5%. I got a break fee quote and got it in my head that you never break a fix.... Vastly different now.

Are there any lenders who are willing to provide a second mortgage on a property? i.e. go on title as the second mortgagee?? I am in the situation of having an IP with 600k equity but a fixed loan against it. Would like to avoid break fees. Existing lender v. limited on top ups/cash out...

Does an application for transfer of security generate a credit hit on you file- the same as a new loan application would? Also- if there is an existing loan against IP2, will the lender accept using the equity as security but taking a second mortgage?

If that's the case RP data should come with notes re: sale (eg sale price between related parties, sale price after 6 months on market, sale price on mortgagee sale). The previous sale price does not always indicate the market value. Valuers need to consider the conditions surrounding the sale.

Is there any way to avoid your purchase becoming a 'government notified sale' and therefore available for all future valuers and purchasers to see? I am looking at purchasing a property that is an off market listing. I don't want my PP (in my opinion well BMV) to influence future bank...

If the vendor allows possession and renovation by the purchaser prior to settlement, is it possible to get a lender to provide 80% of funds based in a valuation HIGHER than contract price? Has anyone ever tried this?

Put's a bit of a sting in a long settlement period.....

You guys have all out my mind at rest. I plan no changes at all but I was just worried a long settlement might mean a whole new application/ set of supporting docs are needed right before the settlement which would be the biggest headache. And a process I don't want to go through twice!

Happy to sign a stat dec or whatever else as I have no expected changes in the future. Have been in same job for the last decade.....

I would love to be sitting twiddling my thumbs :) Always find the finance the hardest part of the whole transaction. And getting the keys the the highlight.

Is it possible to encounter issues after exchange and prior to settlement with unconditional finance in place? I am considering a deal with a longish settlement period (3 months). After unconditional approval has been issued can the finance provider ask for further documentation, more credit...

Best time to value Learning more from this forum everyday. So best time to value....when the house a few doors down sells for WAY more than it's worth.

If multiple valuations are order- what is the widest variation you have seen?

Valuer shopping Don't a lot of banks use the same valuation companies? When it comes to inner Sydney, Torrens title properties the 'value' can vary by $100-300k at auction or by private treaty at the upper price ranges (1.3m plus). Is it possible to order 3 to 4 separate upfront...