Hey everyone!
I've come to the final stages of my first property purchase and I just have a few questions I'd like to ask and hope some of you kind people can answer them for me. They're not too hard, I promise!
Am I correct in saying that my solicitor should be preparing all settlement cheques and arranging the whole settlement process?
How do I go about paying off the remainder of my deposit (10%)? Do I have to transfer it to the same account where my mortgage funds go to (I'm assuming the mortgage funds go to my bank account??) or can I just draw up a personal cheque or do a direct deposit?
I've received approval of my FHOG but not of my 'First Home Plus' stamp duty exemption - is this supposed to be coming or is the FHOG approval all I will receive? My settlement is next week so I don't want to suddenly have to fork out $10k because I'm not approved for whatever reason.
So I plan on living in the place for a continuous 6 months from settlement date whilst doing renovations. I will then rent it out afterwards. Are there any drawbacks I'm missing (tax or otherwise) in doing it this way?
Should I set up electricity before I move in or will it stay on for a short amount of time after settlement?
Sorry for all of these dumb questions! Thanks for any help you can give me
I've come to the final stages of my first property purchase and I just have a few questions I'd like to ask and hope some of you kind people can answer them for me. They're not too hard, I promise!
Am I correct in saying that my solicitor should be preparing all settlement cheques and arranging the whole settlement process?
How do I go about paying off the remainder of my deposit (10%)? Do I have to transfer it to the same account where my mortgage funds go to (I'm assuming the mortgage funds go to my bank account??) or can I just draw up a personal cheque or do a direct deposit?
I've received approval of my FHOG but not of my 'First Home Plus' stamp duty exemption - is this supposed to be coming or is the FHOG approval all I will receive? My settlement is next week so I don't want to suddenly have to fork out $10k because I'm not approved for whatever reason.
So I plan on living in the place for a continuous 6 months from settlement date whilst doing renovations. I will then rent it out afterwards. Are there any drawbacks I'm missing (tax or otherwise) in doing it this way?
Should I set up electricity before I move in or will it stay on for a short amount of time after settlement?
Sorry for all of these dumb questions! Thanks for any help you can give me