1. N

    Failure to meet settlement

    Hi guys, I am in a bit of a pickle at the moment, hoping for some advise. Below are the details. I have finance approval from ING to purchase an investment property, I know ING not my first choice. They took a very long time to approve finance and now they have limited time to make...
  2. A

    Settlement delayed by Vendor

    Hello! First time poster from NSW - need some advice. We have just purchased a unit, and asked for vacant possession since there are tenants who are not on lease. The tenants are a middle-aged man who is taking care of his elderly mother. They have been unable to find a new place, and...
  3. Richard Feynman

    Swap purchaser on settlement?

    I am sure I have read about this thing being pulled off (for different reasons). Situation: - Have found a place for someone to acquire through their SMSF - SMSF is in the process of setup and may not be complete prior to auction Idea: - Request longer settlement - Have clause...
  4. M

    Electricity, Gas & Phone line on settlement

    Hi all, I'm lost as to what happens on settlement with things like gas, electricity and phone line. Is this all still on or disconnected by the previous vendor, or do I need to disconnect if I plan to choose my own? I think my conveyancer will sort out the water and council, just unsure of...
  5. G

    Auctions & Finance

    Just wondered what the process is in regards to finance with auctions? If you win an auction, what is a typical deposit required, and is this needed immediately? With the loan would it be the same as a non-auction sale - i.e. have finance pre-approved? Also what are typical settlement...
  6. K

    Settlement / Purchase costs

    Hi all, I'm looking at trying to buy my second I.P (thanks to the wonderful help of you magnificent forum members). I have a question on the acquisition of funds for settlement costs (such as stamp duty, conveyancing fees etc). I plan on taking a new loan at 95% LVR and have enough funds...
  7. Spades

    What happens if you die before settlement?

    Hi all, Don't know if this has been covered but what are the legalities if this situation happened? Just thinking out loud and don't mean to be morbid,just curious. Cheers Spades.
  8. Spades

    Re:Insurance before settlement

    Hi all, Re:Getting a cover note insurance before settlement on a house,does one get building insurance or building and contents insurance? I presume one can cancel insurance after settlement if one found a better policy? Any recommendations? Or is it best to maybe checkout the net...
  9. Spades

    Deposit release before settlement?

    G'Morn everyone, I was talking to my conveyancer yesterday and was mentioned that vendor wants the deposit after finance has been approved. I never knew you could do this but doesn't purchaser have to sign a Section 27 Statement granting the release of the deposit?I've signed no sec 27. As...
  10. melzinoz

    Creating equity before settlement

    Hi Guys, forgive me if I am naive, I am pretty new to all of this! :) I just wanted some insight/opinions on creating further equity from improvements during settlement. I have made an offer on an IP property and am thinking, while the inside is great, adding some street appeal might...
  11. cocka2

    Changing the contract after exchange before settlement

    Hi all, I have a question. I am purchasing a property, initially I indicated that I don't want to receive 7k government grant for first home owners. I would like to know if it is possible to change this now, after exchange, before settlement, or is it too late ? Does it cost something...
  12. J

    Post settlement window leak

    I have purchased a unit in a block of flats (Perth), after settlement I have discovered that some water comes in under/ through the windows (kitchen/lounge) when it rains. Hard to ascertain but it appears to be coming in through the frame where the window slides to open. Is this something that...
  13. D

    Urgent help: Last minute nasty surprise

    Hi all, first time here and in property market. I feel like I'm getting stung already though. Me and my sis put a deposit on this apartment being built and it's now up for settlement at the end of the month. But I'm still a student and I found out 3 days ago that the application for...
  14. J

    Deposit down on OTP property - difficulty obtaining finance. Options?

    Hi all, Back in late 2009 I put a 10% deposit of $37k for an off-the-plan purchase of a $370k 1 bedroom apartment in Hamilton, Brisbane. The apartment was intended to be an IP and rented out once built to assist with loan repayments. Since 2009 my financial situation has drastically...
  15. A

    2 IP's On Same Settlement Date

    Hi, Hoping someone here can help out with a little advice. We have a contract on a unit which is to settle on 23rd March 2011. We have just had an offer accepted on another unit, also to settle on 23rd March 2011. Both in Adelaide, SA. I remember reading about saving on purchase costs...
  16. J

    Caveat on off the plan property

    Hi all, First time poster long time reader. Appreciate any input on my current situation below; My contract for off the plan purchase was rescinded last year by the developer because the market has gone up substantially. They are now putting this unit back on the market and trying to sell...
  17. jsoe

    Options Options Options

    Hi all, any advice is appreciated. We're thinking of playing "options" on this property for sale. This house we're looking to buy has land component big enough and eligible (as per council zoning, etc.) for multiple dwellings development. No DA has been applied for. We are thinking of...
  18. M

    Property Settlement Delays

    Hi What should I do if the seller or the seller's bank is postponing the settlement date. They need extension time to settle because they could not get their act together with organising title etc. They had 2 months to get ready. Are they liable for any penalties?
  19. A

    Question about settlement

    The property I have purchased has tenants currently living there. The settlement date is about 10 days ahead of the end date of their contract. Can I move in on the settlement date or do I have to wait until the tenant's contract ends? The real estate told me that I cannot kick the tenant out...
  20. S

    Tenants signing lease before settlement

    Hi all, What are the legal implications of signing a lease agreement with a tenant before settlement on a new IP, particularly if settlement is delayed? Obviously the lease would commence after the settlement, but I'd like to get it all squared away before. Has anyone had a situation...