Hi there.
I know I said 6 months moratorium on posting here. redwing was right: I am "always curious" and have some questions.
I really put a ban on myself from posting so I wouldn't jeapordise my work situation with internet surfing / posting. I am on hols now though.
An update of what I was up to:
+) A renovation project was investigated thoroughly and abandoned.
+) A renovation (minor) was completed at our PPOR - paint & carpets & an internal wall (Square set plaster is SOO hard for a handyman to do right...)
2 weeks to paint & recarpet.
Now on holidays so I am OK to post..
Two questions for the forum:
What is the purchase process in NSW?
In QLD it is: Finance pre approval - research, inspect, offer, sign / negotiate / vendor countersigns, ~2 weeks (negotiable) till finance & pest & building, x till settlement, remainder of deposit etc. then searches, then settlement
What is the process in NSW?
Secondly - what's the due diligence involved in purchasing a holiday letting house/unit. I want to run the figures but only really know the old standard long term lease figures.
What questions should I ask?
my thoughts: what seasons are peak? what are non peak? What's the average rental during that time? occupancy? Higher agency fees? etc.
So those are my two questions, broadly speaking.
I know I said 6 months moratorium on posting here. redwing was right: I am "always curious" and have some questions.
I really put a ban on myself from posting so I wouldn't jeapordise my work situation with internet surfing / posting. I am on hols now though.
An update of what I was up to:
+) A renovation project was investigated thoroughly and abandoned.
+) A renovation (minor) was completed at our PPOR - paint & carpets & an internal wall (Square set plaster is SOO hard for a handyman to do right...)
2 weeks to paint & recarpet.
Now on holidays so I am OK to post..
Two questions for the forum:
What is the purchase process in NSW?
In QLD it is: Finance pre approval - research, inspect, offer, sign / negotiate / vendor countersigns, ~2 weeks (negotiable) till finance & pest & building, x till settlement, remainder of deposit etc. then searches, then settlement
What is the process in NSW?
Secondly - what's the due diligence involved in purchasing a holiday letting house/unit. I want to run the figures but only really know the old standard long term lease figures.
What questions should I ask?
my thoughts: what seasons are peak? what are non peak? What's the average rental during that time? occupancy? Higher agency fees? etc.
So those are my two questions, broadly speaking.
