Buying houses the Ozzie way
Dec 19th 2003, 5:31 am
#1
High in the Dandenongs
Thread Starter
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
Buying houses the Ozzie way
Hi all
Well the house sale is due to "settle" at 2pm monday, as most of you are aware we have only been here in Victoria for a matter of weeks, but buying a house is so much better than the debacle in England that many of you have been through (and are still going through, Boo Boo)I thought that i'd give you a quick guide....
1, Choose house
2, decide what you are prepared to offer for it (NOTE. when the asking price is $320 plus buyers (for example) they are usually looking for around thiry K above that price, its just a carrott to lead the donkey through the door)
3, ask to see the section 32. This is held at the estate agents office and basically shows you the deeds of the house, any planning permission, cost of rates etc. It also shows "easements" these are pieces of land that you are not allowed to build over with anything, pools sheds etc. If you are unsure about anything on the 32 go into your local council office and they can bring up the property on the computer and give you a very detailed list of specifics, such as protected trees etc on the property.
4, Make your offer, but always put in writting subject to no major structural faults found in survey. It is also worth putting in writting at this stage anyother concerns that need addressing before they get their sticky mitts on your cash! In our case we also required that they rebuild a side wall in the garden before they leave as it was unsafe.
5, you can make your offer with a settlement term (it is best to) for example we asked for 30 days, but you can do 60 or 90, or anyother that you both agree on.
6, once the offer has been accepted and term of settlement confirmed, there is no going back.
7, get the inspection done ASAP and a written report, if all is well, its yours. (luckily ours was ok and we didn't have any hassle at this stage).
8, We handed over the checks to the conveyencer today, but they will remain in a holding account untill we do the final inspection on sunday evening, once we give the go ahead that all is ok, they get the cash and we get the keys (2pm monday).
AND THAT IS IT!!!!!!!
This is the way it works here in Victoria, some states may vary and for us it was very simple as we had no mortgage to arrange (so we haggled with the conveyensers fees) Also those who have done it here before may have other things that i have missed, feel free to add your two penneth.
Hope this helps and good luck to those of you overthere in the crap house sale system, it does get better this end. BUT DON"T FORGET THE STAMP DUTY. An estate agent can give you a leaflet with the sliding scale on.
GOOD LUCK!!!!!!:scared: :scared:
PS don't forget that you qualify for the 1st time homebuyers grant. Its $7k and you can get it taken off the stamp duty if you like.
Well the house sale is due to "settle" at 2pm monday, as most of you are aware we have only been here in Victoria for a matter of weeks, but buying a house is so much better than the debacle in England that many of you have been through (and are still going through, Boo Boo)I thought that i'd give you a quick guide....
1, Choose house
2, decide what you are prepared to offer for it (NOTE. when the asking price is $320 plus buyers (for example) they are usually looking for around thiry K above that price, its just a carrott to lead the donkey through the door)
3, ask to see the section 32. This is held at the estate agents office and basically shows you the deeds of the house, any planning permission, cost of rates etc. It also shows "easements" these are pieces of land that you are not allowed to build over with anything, pools sheds etc. If you are unsure about anything on the 32 go into your local council office and they can bring up the property on the computer and give you a very detailed list of specifics, such as protected trees etc on the property.
4, Make your offer, but always put in writting subject to no major structural faults found in survey. It is also worth putting in writting at this stage anyother concerns that need addressing before they get their sticky mitts on your cash! In our case we also required that they rebuild a side wall in the garden before they leave as it was unsafe.
5, you can make your offer with a settlement term (it is best to) for example we asked for 30 days, but you can do 60 or 90, or anyother that you both agree on.
6, once the offer has been accepted and term of settlement confirmed, there is no going back.
7, get the inspection done ASAP and a written report, if all is well, its yours. (luckily ours was ok and we didn't have any hassle at this stage).
8, We handed over the checks to the conveyencer today, but they will remain in a holding account untill we do the final inspection on sunday evening, once we give the go ahead that all is ok, they get the cash and we get the keys (2pm monday).
AND THAT IS IT!!!!!!!
This is the way it works here in Victoria, some states may vary and for us it was very simple as we had no mortgage to arrange (so we haggled with the conveyensers fees) Also those who have done it here before may have other things that i have missed, feel free to add your two penneth.
Hope this helps and good luck to those of you overthere in the crap house sale system, it does get better this end. BUT DON"T FORGET THE STAMP DUTY. An estate agent can give you a leaflet with the sliding scale on.
GOOD LUCK!!!!!!:scared: :scared:
PS don't forget that you qualify for the 1st time homebuyers grant. Its $7k and you can get it taken off the stamp duty if you like.
Dec 19th 2003, 5:38 am
#2
Joined: Aug 2003
Posts: 11,149
I heard about an auction scam the agents use. They undevalue the house to attract interest and get a few people conducting surveys so they can bid. When it comes to the auction none of those who paid thousands for the survey stand a chance because the reserve is above what the agents were quoting.
With the no of properties passing in at auction now it is definatley worth putting in a cheeky off before hand.
With the no of properties passing in at auction now it is definatley worth putting in a cheeky off before hand.
Dec 19th 2003, 5:39 am
#3
BE Forum Addict
Joined: Sep 2002
Location: Derby
Posts: 1,656
Re: Buying houses the Ozzie way
Just add:
Once all parties sign the contract the buyer has 48 hours to cool off and can withdraw if put in writing in that time. However after the 48 hours you are as committed as they are!
The seller cannot accpt any other offers once they sign the contract. There is no gazumping.... We got them to have it contract cleaned and fence mended as part of he contract.
We were fairly happy with the while process and got from offer to moving in within 20days.
Mash..
PS We got conveyencer to apply for the $7k grant for us, 3 months later after chasing they admitted losing the paperwork, so we applied directly at the Tax office and it was paid into our account the very next day......
[QUOTE]Originally posted by h garrett
Hi all
Once all parties sign the contract the buyer has 48 hours to cool off and can withdraw if put in writing in that time. However after the 48 hours you are as committed as they are!
The seller cannot accpt any other offers once they sign the contract. There is no gazumping.... We got them to have it contract cleaned and fence mended as part of he contract.
We were fairly happy with the while process and got from offer to moving in within 20days.
Mash..
PS We got conveyencer to apply for the $7k grant for us, 3 months later after chasing they admitted losing the paperwork, so we applied directly at the Tax office and it was paid into our account the very next day......
[QUOTE]Originally posted by h garrett
Hi all
Dec 19th 2003, 5:43 am
#4
High in the Dandenongs
Thread Starter
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
With the no of properties passing in at auction now it is definatley worth putting in a cheeky off before hand.
Dec 19th 2003, 6:38 am
#5
BE Enthusiast
Joined: Dec 2002
Location: Perth WA
Posts: 712
Our settlement day was yesterday, rang in the morning and was toldsettlement was booked for 12.45. At 12.50 I got a call from the real estate agent to say I was now a home owner once again and shortly after 1pm he popped round with the keys and a bottle of bubbly! This was only as our vendors had already moved out, legally they would have had until midday the following day. So, moving in tomorrow, will we be straight by Christmas????? Not a hope!!
Off to pack another box
Loopy!
Off to pack another box
Loopy!
Dec 19th 2003, 9:32 pm
#6
Forum Regular
Joined: Oct 2002
Posts: 298
Re: Buying houses the Ozzie way
Originally posted by h garrett
Hi all
Well the house sale is due to "settle" at 2pm monday, as most of you are aware we have only been here in Victoria for a matter of weeks, but buying a house is so much better than the debacle in England that many of you have been through (and are still going through, Boo Boo)I thought that i'd give you a quick guide....
1, Choose house
2, decide what you are prepared to offer for it (NOTE. when the asking price is $320 plus buyers (for example) they are usually looking for around thiry K above that price, its just a carrott to lead the donkey through the door)
3, ask to see the section 32. This is held at the estate agents office and basically shows you the deeds of the house, any planning permission, cost of rates etc. It also shows "easements" these are pieces of land that you are not allowed to build over with anything, pools sheds etc. If you are unsure about anything on the 32 go into your local council office and they can bring up the property on the computer and give you a very detailed list of specifics, such as protected trees etc on the property.
4, Make your offer, but always put in writting subject to no major structural faults found in survey. It is also worth putting in writting at this stage anyother concerns that need addressing before they get their sticky mitts on your cash! In our case we also required that they rebuild a side wall in the garden before they leave as it was unsafe.
5, you can make your offer with a settlement term (it is best to) for example we asked for 30 days, but you can do 60 or 90, or anyother that you both agree on.
6, once the offer has been accepted and term of settlement confirmed, there is no going back.
7, get the inspection done ASAP and a written report, if all is well, its yours. (luckily ours was ok and we didn't have any hassle at this stage).
8, We handed over the checks to the conveyencer today, but they will remain in a holding account untill we do the final inspection on sunday evening, once we give the go ahead that all is ok, they get the cash and we get the keys (2pm monday).
AND THAT IS IT!!!!!!!
This is the way it works here in Victoria, some states may vary and for us it was very simple as we had no mortgage to arrange (so we haggled with the conveyensers fees) Also those who have done it here before may have other things that i have missed, feel free to add your two penneth.
Hope this helps and good luck to those of you overthere in the crap house sale system, it does get better this end. BUT DON"T FORGET THE STAMP DUTY. An estate agent can give you a leaflet with the sliding scale on.
GOOD LUCK!!!!!!:scared: :scared:
PS don't forget that you qualify for the 1st time homebuyers grant. Its $7k and you can get it taken off the stamp duty if you like.
Hi all
Well the house sale is due to "settle" at 2pm monday, as most of you are aware we have only been here in Victoria for a matter of weeks, but buying a house is so much better than the debacle in England that many of you have been through (and are still going through, Boo Boo)I thought that i'd give you a quick guide....
1, Choose house
2, decide what you are prepared to offer for it (NOTE. when the asking price is $320 plus buyers (for example) they are usually looking for around thiry K above that price, its just a carrott to lead the donkey through the door)
3, ask to see the section 32. This is held at the estate agents office and basically shows you the deeds of the house, any planning permission, cost of rates etc. It also shows "easements" these are pieces of land that you are not allowed to build over with anything, pools sheds etc. If you are unsure about anything on the 32 go into your local council office and they can bring up the property on the computer and give you a very detailed list of specifics, such as protected trees etc on the property.
4, Make your offer, but always put in writting subject to no major structural faults found in survey. It is also worth putting in writting at this stage anyother concerns that need addressing before they get their sticky mitts on your cash! In our case we also required that they rebuild a side wall in the garden before they leave as it was unsafe.
5, you can make your offer with a settlement term (it is best to) for example we asked for 30 days, but you can do 60 or 90, or anyother that you both agree on.
6, once the offer has been accepted and term of settlement confirmed, there is no going back.
7, get the inspection done ASAP and a written report, if all is well, its yours. (luckily ours was ok and we didn't have any hassle at this stage).
8, We handed over the checks to the conveyencer today, but they will remain in a holding account untill we do the final inspection on sunday evening, once we give the go ahead that all is ok, they get the cash and we get the keys (2pm monday).
AND THAT IS IT!!!!!!!
This is the way it works here in Victoria, some states may vary and for us it was very simple as we had no mortgage to arrange (so we haggled with the conveyensers fees) Also those who have done it here before may have other things that i have missed, feel free to add your two penneth.
Hope this helps and good luck to those of you overthere in the crap house sale system, it does get better this end. BUT DON"T FORGET THE STAMP DUTY. An estate agent can give you a leaflet with the sliding scale on.
GOOD LUCK!!!!!!:scared: :scared:
PS don't forget that you qualify for the 1st time homebuyers grant. Its $7k and you can get it taken off the stamp duty if you like.
thanks
Dec 19th 2003, 9:44 pm
#7
BE Forum Addict
Joined: Jun 2002
Location: Gold Coast- the best place in the world
Posts: 3,196
Thanks for such an informative post, this one will definitely be printed out and carried around with me when we go house hunting. At least I can pretend I know what I am doing now
Many congratulations on your new home
Many congratulations on your new home
Dec 20th 2003, 12:35 pm
#8
Gone Senile Member
Joined: Sep 2001
Location: Sydney
Posts: 3,014
Re: Buying houses the Ozzie way
Originally posted by sunny_samantha
jUST WONDERING....DOES THE A$7 apply to all visas ?
thanks
jUST WONDERING....DOES THE A$7 apply to all visas ?
thanks
Anyone know if applies to the Business Visa 457 - the ones where you are coming over to set up a business?
Cheers
Dec 20th 2003, 10:16 pm
#9
Forum Regular
Joined: Sep 2003
Location: LIVERPOOL (for now...)
Posts: 173
7k first time buyers
What are the requirements to get the 7k first time buyers grant?
Dec 20th 2003, 10:26 pm
#10
Guest
Posts: n/a
Re: 7k first time buyers
Originally posted by pagey
What are the requirements to get the 7k first time buyers grant?
What are the requirements to get the 7k first time buyers grant?
i think you must be an australian pr and a first time buyer (in australia), also you must pay back the $7k if you sell the house within 12 months (i think)
Dec 20th 2003, 10:29 pm
#11
Joined: Aug 2003
Posts: 8,147
Re: 7k first time buyers
Originally posted by pagey
What are the requirements to get the 7k first time buyers grant?
What are the requirements to get the 7k first time buyers grant?
have a look at this
http://www.firsthome.gov.au/
Dec 20th 2003, 10:48 pm
#12
Forum Regular
Joined: Aug 2002
Location: Woodcroft, 25 kms south of Adelaide South Australia
Posts: 281
Better be quick for the Ist homebuyers grant! There are moves afoot to stop migrants claiming it as it was never intended for that purpose. The legislation was supposed to be for people that have never had a mortgage in their own name ANYWHERE. This is why so many of you newbies to this country are getting MY tax payer money handed to you, yet I cannot get the grant despite being a taxpayer for 13 years and never having had a mortgage in my own name.
It is also being proposed to means test it.
It is also being proposed to means test it.
Dec 20th 2003, 11:29 pm
#13
Forum Regular
Joined: Sep 2003
Location: LIVERPOOL (for now...)
Posts: 173
grants
Wiz , i sympathise 100% with you , thats one of the main reasons why i`m coming to live in Oz , because of the immigrants getting handouts when your not entitled to any ( even though you`re the one paying the taxes) , if it`s any consulation , in Oz at least you need to be there 2 years before you can claim anything (except of course the 7k grant) here in uk , you don`t even need a passport and you end up getting more than any british citizen , it`s unbelieveable .
i won`t get on my soap box though or i`ll be here all night , bet 95% of brits are with me though.................?
i won`t get on my soap box though or i`ll be here all night , bet 95% of brits are with me though.................?
Dec 20th 2003, 11:34 pm
#14
Joined: Aug 2003
Posts: 11,149
Re: grants
Originally posted by pagey
Wiz , i sympathise 100% with you , thats one of the main reasons why i`m coming to live in Oz , because of the immigrants getting handouts when your not entitled to any ( even though you`re the one paying the taxes) , if it`s any consulation , in Oz at least you need to be there 2 years before you can claim anything (except of course the 7k grant) here in uk , you don`t even need a passport and you end up getting more than any british citizen , it`s unbelieveable .
i won`t get on my soap box though or i`ll be here all night , bet 95% of brits are with me though.................?
Wiz , i sympathise 100% with you , thats one of the main reasons why i`m coming to live in Oz , because of the immigrants getting handouts when your not entitled to any ( even though you`re the one paying the taxes) , if it`s any consulation , in Oz at least you need to be there 2 years before you can claim anything (except of course the 7k grant) here in uk , you don`t even need a passport and you end up getting more than any british citizen , it`s unbelieveable .
i won`t get on my soap box though or i`ll be here all night , bet 95% of brits are with me though.................?
Dec 21st 2003, 12:20 am
#15
Forum Regular
Joined: Sep 2003
Location: LIVERPOOL (for now...)
Posts: 173
The 95 % was a guess BP , i`m not sure of the exact figure , but then again in britain there`s no way you would be allowed to express an opinion against asylum seekers etc without being labelled a racist (which i`m not ) i was making a point about the difference between Australia and britain , correct me if i`m wrong but didn`t Australia stop a norweigian vessel offshore full of immigrants and then go to every measure to make sure that the boat never got to shore (ie send out medical help etc) and then publically tell them to go elsewhere, and rightly so by the way . Wouldn`t happen here , they`d of been welcome with open arms and given all the benefits like , accom , food vouchers , money , driving lessons , free swims (thats in leisure centres by the way , we don`t have many beaches here ) computers with free internet and loads of other things that the likes of me (normal hard working taxpayers ) are not entitled to .
I too hope that Australians are welcoming to me when i get there but i`m sure that when they realise that i`m a hard working AUSTRALIAN TAXPAYER , supporting my own family and not sponging of them , they will be .. and if they are not ... ask me if i give a s**t.... as long as me and my family are happy i couldn`t give a toss...
I too hope that Australians are welcoming to me when i get there but i`m sure that when they realise that i`m a hard working AUSTRALIAN TAXPAYER , supporting my own family and not sponging of them , they will be .. and if they are not ... ask me if i give a s**t.... as long as me and my family are happy i couldn`t give a toss...