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457 and owns a house

457 and owns a house

Old Mar 27th 2008, 9:53 am
  #1  
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Default 457 and owns a house

I was speaking to a friend last night in Aus and she is on a 457 visa.
I didn't realise that she bought her house 2 years ago.
Major problem as she wants to become a permanent resident.
Help!
J x
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Old Mar 27th 2008, 10:08 am
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Default Re: 457 and owns a house

I have an online friend living in Perth on a 457 they moved into their newly bought house yesterday they are also in the middle of aplying for PR and have their CO.

They have not come accross any major problems.

Kaye
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Old Mar 27th 2008, 10:18 am
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Default Re: 457 and owns a house

Originally Posted by wardy2
I have an online friend living in Perth on a 457 they moved into their newly bought house yesterday they are also in the middle of aplying for PR and have their CO.

They have not come accross any major problems.

Kaye
The worry is that I had previously read on here about applying to the Foreign Investment Board before buying property on a 457.
Maybe I got it wrong...
J x
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Old Mar 27th 2008, 10:34 am
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Default Re: 457 and owns a house

I haven't really gone into depth with her about it so I dont know, I just assumed she had checked everything out before purchasing.

Would her solicitors not picked up on it

shes offline at the minute until she gets internet sorted so I cant ask her.

Sorry
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Old Mar 27th 2008, 11:12 am
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Default Re: 457 and owns a house

I bought my block and started building on a 457. We had FIRB approval and midway got PR.

What is the problem?

Debs
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Old Mar 27th 2008, 11:38 am
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Default Re: 457 and owns a house

Originally Posted by wardy2
I haven't really gone into depth with her about it so I dont know, I just assumed she had checked everything out before purchasing.

Would her solicitors not picked up on it

shes offline at the minute until she gets internet sorted so I cant ask her.

Sorry
Thanks for trying.
I haven't asked about solicitors yet but she is hoping to apply for PR soon and thinks it may mess the application up
WOODY1CRUISER:
For some reason and 20 minutes later I can't double up the quotes !!

J x

Last edited by Jaycee1; Mar 27th 2008 at 11:41 am.
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Old Mar 27th 2008, 11:52 am
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Default Re: 457 and owns a house

I don't understand why applying for PR would be affected by buying a house on a 457.

Debs
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Old Mar 27th 2008, 12:00 pm
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Default Re: 457 and owns a house

Originally Posted by woody1cruiser
I don't understand why applying for PR would be affected by buying a house on a 457.

Debs
I am sure (don't quote me) that she should have applied to the FIB as a temporary resident 457 to buy property in Australia. As she now wants PR will owning property affect her application?
J x
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Old Mar 27th 2008, 12:03 pm
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Default Re: 457 and owns a house

It didn't affect us at all. The only reason you need to apply for the FIRB is to make sure you want the house to live in and not make money out of. For my PR application, it strengthened my case as it proved I was settled and serious about making a go of it.

Debs
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Old Mar 27th 2008, 2:28 pm
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Default Re: 457 and owns a house

Originally Posted by woody1cruiser
It didn't affect us at all. The only reason you need to apply for the FIRB is to make sure you want the house to live in and not make money out of. For my PR application, it strengthened my case as it proved I was settled and serious about making a go of it.

Debs
Hi Debs,
So did you not tell FIRB beforehand that you intended to buy the property whilst on 457? Sorry if this is a stupid question as it seems I've already got it wrong
J x
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Old Mar 27th 2008, 10:18 pm
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Default Re: 457 and owns a house

Originally Posted by Jaycee1
Hi Debs,
So did you not tell FIRB beforehand that you intended to buy the property whilst on 457? Sorry if this is a stupid question as it seems I've already got it wrong
J x
You HAVE to apply for FIRB if you are a temp resident. Your friends real estate agent when she bought should have known this. Are you sure that your friend hasn't got this approval and just doesn't realise it. It shouldn't affect her application for PR.
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Old Mar 27th 2008, 10:21 pm
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Default Re: 457 and owns a house

I'm sure she would have it as we had to produce our visa's for the settlement agents etc. You are probably panicking needlessly.

Debs
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Old Mar 28th 2008, 1:30 am
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Default Re: 457 and owns a house

We are in the process of buying our house on a 496 temp visa.
As soon as we put an offer on the house we applied for FIRB approval which came through within 14 days. Neither our estate agent and mortgage company mentioned that we would have to get approval - we were only aware from reading on this site.

Helen
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Old Mar 28th 2008, 6:25 pm
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Default Re: 457 and owns a house

Originally Posted by Jaycee1
I was speaking to a friend last night in Aus and she is on a 457 visa.
I didn't realise that she bought her house 2 years ago.
Major problem as she wants to become a permanent resident.
Help!
J x
(It's not me I'm still here)

Not a problem. We were on a 457 last year and wanted to buy. Found a house, made the offer, applied to FIRB and 2 weeks later it was ours. That was in August. We got PR in Jan this year.

The only problem coud be if your friend is getting LAFHA whilst owning a house. Lucky her if so !
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Old Mar 29th 2008, 9:57 am
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Default Re: 457 and owns a house

maybe a silly question and asked 100 times..

can you get first time buyers grant on 457 i have been told no but feel sure that i have read on here that some get it...

sarah
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