Just to clarify: Not asking for opinions or advice

Purchasing a new property, have had mine on the market yet it just has not sold. I have an unconditional approval for new purchase when the plan was to sell. The only mention is in the "instructions for solicitor" to ensure existing loans are paid out. At the time of approval the existing loan was with the same bank for my current property.

Since that, I have got a refinance that settled today, to take over that current mortgage and give me the cash required for new purchase. I also have an unconditional with a small non-bank lender for the new purchase - that is aware of my new refinance as it was structured together.

The question is, can I get away with using the first unconditional loan offer? It is still valid and not cancelled as I asked it to be left, if my property sold I would still want to use it. It is more favourable for the new purchase than the non-bank lender. Their assessment is that I didn't have the serviceability to keep both, however my repayment would actually be less than with non-bank, before anyone comes along with opinions on that.

Obviously there is the instructions for solicitor to check that existing loans have been paid in full, (which they have, technically) curious if on PEXA the bank or the solicitor will just check the PEXA ID and see that loan has been paid, and not dive much deeper than that. Also easy for this bank to see its been paid, as there is no longer a loan account with them.

Any kind of insight from preferably a solicitor/conveyancer who has experience with PEXA or someone who has been in the same situation would be great.

Thanks

So they’re predicting it’s cheaper to buy existing homes than building a new home? Wouldn’t be smarter to buy old homes and rent them out at ridiculously high rent while the vacancy rate is all time low. When first home buyers read this type of media coverage, they pull back and not buy because of FEAR MONGERING. When I am in the open homes only investors are moving like a venomous snake there’s no pussycat dolls lining up and having a go at buying. When it turns back up, FOMO BEGINS. HOLY FK IT NEVER ENDS.

Why build and wait for 2 years to finish? When you can get a big discounted house price and rent the fk out of it straight away. You avoid builders insolvency, fk ups and delays.

Old properties are most likely closer to CBD than new estates. Who gives a shiet if you take a loss without Negative gearing, you get the loss
back when you sell up in 5-10-15-20 years time. Yea no one is building.

This is all smokes and mirrors. They tried to change the MONOPOLY GAME but it’s firing back to the renters. You’re a Kent ALBO and CHALMERS ,
You’re full of shiet.

Why would albo collapse the housing market after letting everyone get the first home buyers grant? Which the government used to pay their own taxes anyway.

Hi all! Just got home from work, looked out the back yard and noticed the new neighbour has boxed in his pergola, pretty shitty job at that, screws punching through, cracked plaster, took down the privacy screen as well. Didn’t hear a word about this before he started even though I chatted to him about the weather for 10 minutes on the weekend.

The kicker? From the screws that have appeared on our side going back to his it appears he trespassed in our backyard to get the job done.

Before and after attached. Where do we stand legally? What would you do?

My property management recently changed to LJ Hooker however as part of the process I got sent this email to download this app. Does anyone have an experience with this? As I don’t love the idea of downloading an app just to lodge issues with my apartment.

Hi I just found a good house with balcony in Surry hills (where you can see narrow houses in a row) but I need your opinion because of:

1. Air

problem

It is 3 floor house, 2 rooms on 2nd floor and 1 room on 3rd floor.

I’m going to take one of rooms on 2nd floor, but the thing is two rooms have totally different air condition.

One room has a really good sunlight, but when I went in I felt something is in the air. Maybe the balcony and windows are not opened to the street side, but houses

The other room had fresh air and winds a lot, and it didn’t have sunlight. The balcony is on the street side.

I do love the first one but I don’t know how much the air is gonna be bad, especially in this kind of historical house. I’ve lived only in apartments so far.

1. Noise
   On the first room(with sunlight), there is 3rd floor room. Idk how much the noise would be, and also from houses beside.

If there’s anyone who’s lived in Surry hills or this kind of old historical building, can u lmk how it is like to live in terms of air and noise? Thanks

This is only really applicable to investors or home owners that are refinancing;

But ask your broker for multiple valuations before deciding which lender to go with when you're refinancing or buying another property (assuming you have one already).

Or if you're not using a broker approach more than one bank with what you're trying to do.

This is especially important at the moment, the swings in valuations that I'm seeing are massive (more than normal because of the falling market?), but if a valuation comes in 100k higher than a different one that could mean 20k less you need to contribute to a new purchase, or 80k more you can refinance out of your property. And if you're like me and like having as much of your equity refinanced as cash incase of an extended downturn this is really significant.

Me and my brother hold a townhouse in Melbourne Shi*t box, want to sell it and we want to buy a nice big block in Seymour, outright just to live in and never work. We are of ethics background. Will it be safe for us? Are there crime, racist attacks, how’s it overall?

Are these indicative pricings good ? Melbourne based ? Let me know.

Hi everyone

We’re considering pulling the trigger and buying a new apartment and selling the one we live in.

We’re planning on buying first (it’s a new build so no stamp duty is part of the incentive to do it now).

If it all goes to plan, we’ll end up with a small 200-280k mortgage.

Buuuut. That requires selling our existing apartment and around 30k of costs. And the market is really low now and predicted to fall further.

I know there is wisdom in buying when the market is low and accepting a low sale price… but this dip feels different this time around.

The other half of this is we have a great financial position now and love where we live…and this place would be an upgrade in location and ammenities… but same size apartment.

Ultimately we could do it mortgage free, but that would me exiting some shares and reducing that position (and associated tax burdens)

So, I’m after redditors wisdom - Is this just a little dip/correction or does it have further to go (as predicted in the press… another 5/6% drop coming at least!

Thnx for any and all advice.

Anyone that has experienced a water leak…

Do you also live in near-constant anxiety that it’s going to leak again anytime it rains? 😭