The cost of buying an investment property

Posted on November 6, 2016 by | 0 Comments
Are you thinking about buying an investment property? If the answer’s yes, listen up. While buying an investment property is a great first step to take in future-proofing your wealth, it’s important to know exactly how much the endeavour will set you back before you get too carried away. As with any property purchase, you’ll have to spend more than just the cost of the dwelling in order to secure the premises. Some of the...

Continue Reading »

StanChoosing the right ownership structure

Posted on November 6, 2016 by | 0 Comments
One definition of the term “structure” is “something built or constructed, as a building, bridge or dam”. Ironic, then, that as property investors we use the term “structure” to define how we arrange our property investment portfolios. Like a building, our investment portfolios need to have a good structure… otherwise they’ll topple down on our heads! The structure we establish will depend upon a variety of things: our personal situations; our goals; our financial and...

Continue Reading »

Standard posting

Posted on November 2, 2016 by | 0 Comments
Australia’s big four banks have quietly destroyed all paper land titles they hold for 1.6 million Victorian mortgagees, forcing property owners to use a bank-owned electronic transaction system. Any future sales of properties whose titles are held by the bank will need to be transacted, at least in part, electronically. The mass destruction of paper titles and their replacement with electronic certificates has been questioned by property lawyers who fear it will compromise security and effectively...

Continue Reading »

Gold Coast real estate agent Alex Far has been permanently disqualified from the industry

Posted on October 22, 2016 by | 0 Comments
A PROMINENT northern Gold Coast real estate agent once praised by late former mayor Ron Clarke as “restoring his faith” in the industry, has been permanently disqualified. Alex Far, the former sales director of Runaway Bay’s Sovereign Realty in Runaway Bay, has been barred from holding a real estate licence following an investigation by the Office of Fair Trading Mr Far appeared before the Queensland Civil and Administrative Tribunal on Tuesday after a complaint was lodged...

Continue Reading »

Gold Coast agents giving out money, food and coffee to attract sellers and buyers

Posted on October 17, 2016 by | 0 Comments
COMPETITION in the cut-throat real estate market is so intense one Gold Coast agent is giving out $1000 incentives for referrals. Andre Sharples, of Professionals John Henderson Real Estate, has given away $10,000 this year — and hopes to give out more. “It gets me business as I’ve got people out there promoting me to get their $1000,” Mr Sharples said. “Listings are very tight and it’s another way to promote yourself. “It doesn’t affect...

Continue Reading »

Reserve Bank of Australia says apartment boom risks start showing

Posted on October 17, 2016 by | 0 Comments
The risks of oversupply the Brisbane and Melbourne apartment markets are “coming to the fore”, the Reserve Bank of Australia warns. The RBA said the financial system was in good shape overall, particularly with home price growth slower than a year ago, tighter lending standards and slower credit growth to households. However, the central bank said the risks from apartment oversupply in some markets were now starting to show. “These risks appear greatest in inner-city Brisbane and...

Continue Reading »

Verification of Identity – Why It Matters

Posted on August 22, 2016 by | 0 Comments
A woman whose house and identity was stolen by overseas scammers has been forced to sue the government to retrieve her money. International fraudsters, who are still at large, pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia. Fresh details of the crime were aired in the ACT Supreme Court last week, as court documents reveal the thieves...

Continue Reading »

Changes to Victorian residential building legislation

Posted on July 12, 2016 by | 0 Comments
The Building Legislation Amendment (Consumer Protection) Act 2016(the Act) which was passed by the Victorian Government on 19 April 2016 imposes sweeping reforms in respect to a number of significant areas affecting residential construction in Victoria. By reason of a Proclamation published in the Victoria Government Gazette No. S 194 dated 21 June 2016, certain sections of the Act are to commence and ‘become live’ on 4 July this year. While the purpose of the...

Continue Reading »

Misleading Conduct By A Real Estate Agent

Posted on July 12, 2016 by | 3 Comments
A couple who spent nearly $1 million on a Hawthorne property are suing the real estate agents and vendor, claiming that the property was advertised falsely and alleging misleading conduct by the real estate agent. Malcolm and Samantha Stevenson have taken agency Bekdon Richards and vendor Tony Burchill to court, claiming losses and damages of over $178,000 after purchasing a two bedroom Victorian-style home in February 2014. In a statement of claim lodged last month...

Continue Reading »

Watch Out If Selling Property Worth $2 Million Or More!

Posted on July 12, 2016 by | 0 Comments
Vendors selling their multimillion-dollar homes this weekend could face a nasty shock at settlement time – the loss of hundreds of thousands of dollars because of poor legal advice. This is because many may be unaware of new 10 per cent withholding tax rule, which came into force on July 1, and which applies to all property worth $2 million or more, including residential property. To avoid being hit by the stiff penalty, all vendors selling at this price point must...

Continue Reading »