Hi Folks,
Long time reader, first time contributor. Just needing advice on helping out my parents living in Sydney (I live in WA) who are having problems paying their mortgage. They want me to purchase their family home below market value (approx $50-$60k) and rent it back to them at market price, mortgage repayments are more than market rents in the area. Are there going to be issues with stamp duty as it is going to be sold below market value and would I need a conveyancer/lawyer for the transaction. I am a bit hesitant to go down this path but if I don't they will most likely lose their home. Any advice will be greatly appreciated.
Long time reader, first time contributor. Just needing advice on helping out my parents living in Sydney (I live in WA) who are having problems paying their mortgage. They want me to purchase their family home below market value (approx $50-$60k) and rent it back to them at market price, mortgage repayments are more than market rents in the area. Are there going to be issues with stamp duty as it is going to be sold below market value and would I need a conveyancer/lawyer for the transaction. I am a bit hesitant to go down this path but if I don't they will most likely lose their home. Any advice will be greatly appreciated.