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  1. pi2012

    Building Surveyor?

    They are Building Surveyors who issue Building Permits. If you after the names...i am sorry..i don't want to disclose that information here.
  2. pi2012

    Laiki Bank increases home loan rates by 0.25%

    Fixed Rates Sorry if this off the Topic. Is this going to affect breaking a Fixed Interest Loan?
  3. pi2012

    Building Surveyor?

    Hello All, Please help me in choosing the right Surveyor - 1. Surveyor recommended by Architect. Got all the documents. Will issue the Building permits very quickly. May delay or cause issues during inspections as no past history with Builder. 2. Surveyor recommended by Builder. May...
  4. pi2012

    The favourite tricks of real estate agents

    Dirty little secret #1 There is an old adage among real-estate agents, ''quote 'em low and watch 'em go. Quote 'em high and watch 'em die"................................. The favourite tricks of real estate agents
  5. pi2012

    Property Value with DA

    Hello All, We have got Plans and Permits to build 3 Double Storey Units (1 x 3br, 2 x 2br) on a block of land. My question is how much does this adds Value to the property. Property Next door with exact area was sold for $620,000 last week without any development approval or any other sort...
  6. pi2012

    Deal

    I have been told that Mortgage Insurer will only consider $750,000 max. per security...how would this deal work if the security is still on one title..its just getting all messy and seems impossible....
  7. pi2012

    Deal

    So its like pretty much impossible to obtain a construction loan for development if you don't have 20% deposit??
  8. pi2012

    Deal

    Thanks Rolf. Could you please elaborate on 95% cash out as being hurdle. Mortgage Insurance company will lend upto $750,00 per security and shouldn't have any issues as the value of the property was done by one the registered Valuers on Bank's Panel List. Does Bank see this deal as a risk or...
  9. pi2012

    Negative gearing on the way out

    Source: The Age NEGATIVE gearing is disappearing as a tax strategy for landlords, and it seems it won't be missed. Falling interest rates and rising rents over the course of the financial crisis have made it increasingly hard for landlords to make deliberate losses to offset their other income...
  10. pi2012

    Deal

    Is this Deal possible? Current Property Value - $670,000 (DA for 3 Units) Mortgage - $565000 Draw Equity based on current market value (LVR 95%) = 670,000 *.95 - 565,000 = $71500 (Less LMI) = approx $70,000 Later borrow 80% of $600,000 from Bank for construction of 2 Units without paying...
  11. pi2012

    Who offers a 95% loan nowdays?

    NAB is still offering 95%
  12. pi2012

    Commercial Vs Residenttial Finance

    Is anyone here expert in Development Loans? 3 Units...help please
  13. pi2012

    Commercial Vs Residenttial Finance

    May i ask you if 80% is the Finished Market Value? Which Bigger Banks are doing more than 2 Units. Thanks in advance Richard.
  14. pi2012

    Commercial Vs Residenttial Finance

    We've done our Valuation from one of the Bank's Panel Listed and MB is now approaching the Banks to lend us 80% of the finished value for construction. Is this a possibility for 3 Units? Does the Units need to be subdivided first or can this be done on current Title and later seperate on 3 Titles.
  15. pi2012

    Sub-Division & Titles

    Hello All, How does one sub-divide a property and register under seperate Titles with Title Registration Office/Land Victoria? At what stage of development this happens? Who does this - Building Surveyor? What are the costs involved? Is the stamp duty is payable again? Thanks in...
  16. pi2012

    Development Project - Stuck in a dilemma

    Thanks Rockstar. Engineer from council is personally going to check the site next week and will discuss other avenues with me (as he told me on Friday)...so lets hope we will get away with bigger tanks and onsite detention system as its compulsary. The only concern is installing new stormwater...
  17. pi2012

    Development Project - Stuck in a dilemma

    Thanks Paddy. Its council's policy to have an Onsite Detention System for Multi-Dwellings and this can't be waived. The block is pretty flat with slight slope towards the front of the porperty. What i would like argue with the council is to let us have Bigger Storage Tanks, bigger than 2000L...
  18. pi2012

    Development Project - Stuck in a dilemma

    I know Palabu. We thought the hard bit was over when we received the DA :( Yes, the council has asked for onsite detention system plus a new stormwater pipe under the nature strip and crossover all the way to Legal Point of Discharge. I was told by the Engineer that this may cost us $50,000...
  19. pi2012

    Development Project - Stuck in a dilemma

    Thanks for your reply. OK...the root cause is the big expense to install a new Stormwater pipe at the front of the property all the way to the corner of the street (90m) and connect to the Legal Point of Discharge.
  20. pi2012

    Development Project - Stuck in a dilemma

    Hello All, We have received DA to build 3 Units on the block. Now its stuck at the Engineering Department at the Council. The story goes like this: Stormwater Design-When engineer was drawing the Stromwater design, he asked me to check the StormWater Pit depth for the right calculations...
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