How important are a survery report and a building certificate before signing contract

Contract doesn't include a survey report or a building certificate at this stage. To get them, they'll cost $660 and $250 respectively.

Is this normal? And do I need them?

This is an el cheapo in a town.

Thanks

How important are a survery report and a building certificate before signing contract

How long does it take for titles to be issued?

After a builder has submitted all paper work to the government, how long does it take for titles to be issued ?



I agreed to purchase a property back in October 2014 which was about 90% complete. I was told by REA that he expected the settlement to be complete end of December but may extend into January due to holidays. December's gone, so has January and now February is going away. I haven't heard anything from anyone. I asked the REA and he said the paper work is in, we are just waiting on the government. The conveyancer is equally useless. She was told last week the titles office is in possession of the paperwork and titles will be issued asap. I called the titles office and they confirmed their turn around time is 24 - 48 hours. So the paper work hasn't moved on till the titles office.



1) What sort of paper work gets submitted ?

2) Is there a way to know when all the paper work was lodged ?

3) The sunset clause in my agreement has a date of 31st March. Does a sunset clause mean finishing of the property and lodging the paper work, or does it mean, by this date the settlement will be over ?

4) I am already managing breaking/extending my current lease and paying for storage of white goods - can I claim compensation for these costs ? (nothing about this is mentioned in the contract).

How long does it take for titles to be issued?

renting rooms out in my house.

Hey got a question for tax people.



Before everyone says its illegal and tax evasion im not doing it yet just asking the question.



I have two spare rooms available in my house and im currently living there. I have two mates looking for a place to live where I could rent out a room for 150 each direct debited into my bank. Would the tax man catch on to this ? or is cash in hand better.



If so how is this any different from me transfering my mum weekly board when I lived there.



I read the Smh article where lots of people do this but cgt and finds apply if caught out.

renting rooms out in my house.

First IP

I have just submitted an offer on my first IP and after few days of going back and forth with offers with the agent I think we have come to a stand off. Where we are now 10k away from each other. At the moment I'm in no position (financially) to offer any more, are there any tips or recommendations for me to get her down to our final offer. HELP!!



Thanks,

First IP

Building contract administration

So, I'm in the early stages of planning a 4 townhouse development in Melbourne. I've spoken to a few town planets, architects and draftsmen and we're trying to decide who to go with.



I'm a first time developer, no background in construction but I know one end of a hammer from the other. One of the things that I'm getting conflicting advice about is building contract administration. Some are telling me it's a must, builders are all dodgy and will cut corners and rob us blind every chance they get. Others are saying don't worry about it, it's unnecessary, just make sure the contract and plans are detailed and the bank providing finance will check things over before releasing funds at each stage.



Thoughts, opinions, advice - most welcome! I'm leaning towards going for CA but don't want to throw away money unnecessarily.



What do y'all reckon?

Building contract administration

Settlement Questions - WA

Hi

I have a few questions regarding settlement. The buyer has done his final pre settlement inspection and has a few concerns.

• Keys missing for window bolt locks


• Concerns over the vent for evap a/c in bedroom


• Blown light globes

1. Am i responsible for replacing all blown light globes? If so, am i also responsible for buying new light globes when i never had lights in those sockets? (theres a heap of spotlights around the house that has never had any globes in it)
   


2. Am i responsible for supplying all keys to locks? These small keyed-alike window bolt locks have missing keys. The locksmith said this is true but the locks dont have to be working (only a key supplied that fits)
   


3. Do i have to foot the bill after the buyer required a service technician to write a report to state the A/C is in good working order even when i believe its working? The solicitor mentioned its the sellers responsibility on the contract to ensure good working order

I have done all 3 of these things because the buyer demanded it and the RE suggested that i do otherwise settlement will be delayed but its been extremely costly. I would just like to know this for future sales.

Settlement Questions - WA

Westpac...words fail me...wow

Applied to westpac to buy out the half share of my sisters joint ownership of a property.



Privacy documents submitted through my broker 31st/10th/2014



Valuation carried out in november 2014, early november valuation submitted to westpac.



21/1/2015 westpac finally acknowledges receipt of the valuation... that they had actually recieved 2 months earlier.



Westpac then sends out loan documents with the wrong interest rate. Then the broker corrects them and they send out loan documents for the correct interest rate.



Loan documents signed the following week.



Westpac rings us up 1-2 weeks later letting us know that our loan documents are ready to be signed.. I let westpac know we signed the documents 2 weeks ago, they replied, oh okay then *scratch head.



Broker then checks with westpac about what on earth is happening because the mortgage centre hadn't contacted me even though I was listed as self acting. They tell broker they need the transfer forms, etc...



I ring up westpac, they confirm this.



I then go to the branch 1 week ago and submit all the forms they needed.



Again westpac hasn't contacted me to follow up.



So we contact them today, now they still haven't recieved the mortgage approval documents.... the ones we signed in branch 3 weeks ago, the ones that they screwed the interest rate up on originally...the ones that they then asked us a couple weeks later to then come in again and sign.



...

...



...



It's been almost 4 months trying to get a simple refinance approved... the loan is already a westpac loan... yet they still can't seem to do it... Almost FOUR MONTHS! What's that, about 110 days so far.



What sort of business can take 110 days to process 5 pieces of paper work...and still be running. And settlement hasn't even been booked in yet... we are probably 2 months away from settlement at this stage, going at the rate we have been.



I'm really left speechless by it all to be honest.

Westpac...words fail me...wow