Upper West Side Melbourne
- Thread starter slepland
- Start date
36sqm...?? that's very small man... and from an investment perspective dangerous in terms of expected CG
u could obviously try the local real estate agent or if you can find someone to take it over - did you put "your name" & nominees as it is pain to change if you didn't.
first step - speak to your solicitor
u could obviously try the local real estate agent or if you can find someone to take it over - did you put "your name" & nominees as it is pain to change if you didn't.
first step - speak to your solicitor
capital gain expected would be none to negative. they have already factored in the growth into the price. that is normally the case with this newly build apartments in the CBD especially with the size.
also the market for ppl to buy these small apartment are very small. many of the wealthy asian buyers would prefer a higher end and bigger place as opposed to something that would be fit for mainly a student.
only upside is the rental - but then again how much is the owners corp that u would have to figure out when the time comes.
also the market for ppl to buy these small apartment are very small. many of the wealthy asian buyers would prefer a higher end and bigger place as opposed to something that would be fit for mainly a student.
only upside is the rental - but then again how much is the owners corp that u would have to figure out when the time comes.
have a look into the contract, or get your lawyer to, because many contracts will be written so that you cant onsell it prior to handover, without the vendors consent, they make you sell it back to them to onsell, as they dont want you putting a new floor in the sales price.
If you can nominate the contract, you cant sell for more than you paid for it. If you want to sell for more, you have to pay stamp duty, which usually will outwiegh the profit on the deal.
at 35sqm, you have a limited pool of buyers, this is either a long term hold for you, or a get out now at a loss.
If you can nominate the contract, you cant sell for more than you paid for it. If you want to sell for more, you have to pay stamp duty, which usually will outwiegh the profit on the deal.
at 35sqm, you have a limited pool of buyers, this is either a long term hold for you, or a get out now at a loss.
only thing i can think of is that being from singapore, you have a property fully paid off and i know you can get it refinanced at 1-2% and then you have bought a place to get back on rentals returns and hedged it with an foreign exchange currency option or some deriative.
I was thinking to do it closer to settlement date. Can advice if loans are possible for apartments less than 50sqm? Also what are the pitfalls to avoid? Thanks.
msg aaron c. he probably can give you some advice based on your income etc
he probably said sorry you got to go ahead with the contract
and my charges are 800 + GST.
and my charges are 800 + GST.
Yup. But no charges. He just tell me subject to developer's discretion. Also get the developers agent to help. I just dont want it to look like a distressed sale.
u need to get the developer to agree to alter the contract and put in "and/or nominees"
it will be an incentive as the possible purchaser may get away without paying stamp duty subject to when he/she purchases it.
i am sure you can easily find someone. only negotiating factor would be price. sometimes you gotto make a call on good debt vs bad debt vs not so good debt. so in other words -taking a loan for an apartment like this is like bad debt in my view.
it will be an incentive as the possible purchaser may get away without paying stamp duty subject to when he/she purchases it.
i am sure you can easily find someone. only negotiating factor would be price. sometimes you gotto make a call on good debt vs bad debt vs not so good debt. so in other words -taking a loan for an apartment like this is like bad debt in my view.
all you will be seeing is negative growth and possibly negative cashflow depending on your gearing.
I'm really sorry to say this but if it was me I'd sell and cut my losses now.
There is no point having that much money tied up in an asset that won't perform.
Sell... take what's left and go and put it in an asset that will perform.
There is no point having that much money tied up in an asset that won't perform.
Sell... take what's left and go and put it in an asset that will perform.
Oh boy another one sucked in... agree with sentiments above. Sell asap and cut losses. Should be able to do so at completion, but I doubt there's much demand for a second-hand apartment as there's another 500,000 of them coing up in CBD that will have better tax benefits and are newer (even if by 24 hours).
