WRAP advice please
- Thread starter Marx
- Start date
Hi Marx
Of course, if you're selling via a Lease/Option (Rent To Own) no stamp duty is payable until the Option is exercised and the resulting contract of sale is exchanged (in NSW).
If you are selling via an Installment Sales Contract (Wrap), your wrapee has to pay stamp duty within 90 days of exchange of the Instalment Sales Contract.
The timing of the requirement to pay stamp duty varies from State to State, e.g. in Victoria you don't have to pay the stamp duty until the Instalment Sales Contract is completed, i.e. possibly quite a few years.
Good luck.
Cheers, Paul
Of course, if you're selling via a Lease/Option (Rent To Own) no stamp duty is payable until the Option is exercised and the resulting contract of sale is exchanged (in NSW).
If you are selling via an Installment Sales Contract (Wrap), your wrapee has to pay stamp duty within 90 days of exchange of the Instalment Sales Contract.
The timing of the requirement to pay stamp duty varies from State to State, e.g. in Victoria you don't have to pay the stamp duty until the Instalment Sales Contract is completed, i.e. possibly quite a few years.
Good luck.
Cheers, Paul
Arthur,
The main reason you are not getting the amount of calls and the quality of calls you want is due to the ads you are running. Make your ads short, sweet and to the point. No sales talk. This is one I run:
Stop Renting
Own Your Own Home
No Bank Qualifying
3BDR House, Cranbourne
$354 p/w Plus low Deposit
Call Tim XXXX XXX XXX
When they call find out
1. when they want to move in
2. How much deposit they have (They need atleast around the 5k mark)
3. How much do they earn
4. How bad is their credit
If they pass all them then give them the address and tell them to have a look. You should be able to sell the house in 8 weeks no problem.
Good luck. Let us know how you go.
Tim Hart
The main reason you are not getting the amount of calls and the quality of calls you want is due to the ads you are running. Make your ads short, sweet and to the point. No sales talk. This is one I run:
Stop Renting
Own Your Own Home
No Bank Qualifying
3BDR House, Cranbourne
$354 p/w Plus low Deposit
Call Tim XXXX XXX XXX
When they call find out
1. when they want to move in
2. How much deposit they have (They need atleast around the 5k mark)
3. How much do they earn
4. How bad is their credit
If they pass all them then give them the address and tell them to have a look. You should be able to sell the house in 8 weeks no problem.
Good luck. Let us know how you go.
Tim Hart
