Hi guys,
My apologies if this has been answered before. I used the search tool and it came up with HEAPS of threads. I scoured them and can't seem to find what I'm looking for.
I'm in Qld and trying to get a deposit for my first house or investment property, don't care which. As you know, a large chunk of money is hard to come by, so I'm thinking that I could sign a contract, with (maybe) a 60 day settlement, and early entry, and do a light reno and resell it before I have to finance the whole deal. Pull my chunk out and be able to buy my first house.
My question is; is this doable in Qld? Are we allowed to do a double close (as the Americans put it) or is this illegal?? Instead of a double close, what about onselling the contract?
I have faith in my ability to locate a suitable property and not get stuck having to finance it, and am willing to take on that amount of risk.
Please help!
My apologies if this has been answered before. I used the search tool and it came up with HEAPS of threads. I scoured them and can't seem to find what I'm looking for.
I'm in Qld and trying to get a deposit for my first house or investment property, don't care which. As you know, a large chunk of money is hard to come by, so I'm thinking that I could sign a contract, with (maybe) a 60 day settlement, and early entry, and do a light reno and resell it before I have to finance the whole deal. Pull my chunk out and be able to buy my first house.
My question is; is this doable in Qld? Are we allowed to do a double close (as the Americans put it) or is this illegal?? Instead of a double close, what about onselling the contract?
I have faith in my ability to locate a suitable property and not get stuck having to finance it, and am willing to take on that amount of risk.
Please help!