madmaz

hi there
not sure if anyone will know the answer to this.we have just sent off our visa app on 138 and are hoping we get a yes.
we have sold our house here and we are hoping to go to perth.
however we are watching the houses going up daily there and as we have a fair ammount of capital here we wondered if it is possible to purchase a house over there as even if we get the visa we are not planning to go until 2009 to save disrupting lads schooling.
we have family in perth who would have the enviable task of finding us a house.so is it possible or if we transfered money could my uncle buy it for us in his name.
obviously we want to do everything correctly.
thanks in advance

Wendy

You'd need approval from these guys. http://www.firb.gov.au/content/default.asp

I wouldn't buy it in your uncles name though because when you got here and transferred it to your name you'd probably end up paying stamp duty, so in effect you'd be paying twice (I think, as I'd presume you'd have to buy it off him).

madmaz

thanks for the link wendy just sent an email off to them so hopefully they can clear up any questions we have

Wendy

Good luck

Nerine

I love this forum!!! we've just got back from a week in Brisbane and have seen a house we'd like to make an offer on. Was saying to hubby this morning I'll go on expats and get some information...it was meant to be!

JAJ

That's a seriously bad idea. Not only are you potentially exposed to double stamp duty, but what if your uncle claimed the house as his own (things like this have happened before).

Dorothy

And, what if you don't get your visa? You've just spent a wad of money on a house you can't live in.

kevinl

I shouldn't panic mate house prices in Perth have peaked for the moment and if anything thay are dropping, not crashing by any means but just leveling off.
I know how it feels, the pressure to get in and get on but it is expensive to sell and buy if you don't like what your relies find for you, about $35000 on a $400,000 house. Plus if you buy it you will get the $7500 grant.

Kevin

madmaz

thanks guys for all the replys
can now see the point of the double stamp duty.obviously i have to think what happens if we dont get the visa.(OMG DONT WANT TO THINK ABOUT THAT)little chance of my uncle doing that he is so keen for us to come he has been out looking at houses and has offered to buy us one.
we were lucky enough to both have a house before we met so this money would just be an investment so if worse came to worst hopfully the house would just go up in value and we would have a house to move into if we ever get there.
lots more to think about and cheers for all the replies.
ps anyone in perth know where we can buy a cheap house LOL

Paula 67

I agree. house prices have reached a peak and you will prob be better buying in two years. houses are now on the market and not selling but people dont want to drop the prices yet as feel still at a peak and want to cash is. so lots more houses available and no investors are buying here at the moment, so i would wait. I know some people who have just sold and done well but who will now rent for two years and then buy again when houses more affordable.

Teabag

Yes, we just saw our agent about listing our house, and the current market it is away lower price than we were hoping to get, but we are hoping for a quick sale so we can go to UK.