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Thanks. Are there any outside exceptions?

If a propoerty is sold at auction and the Contract has been signed by the purchasers, are the vendors legally bound by the Contract to the sale (the vendors have not yet executed)? Is there is an "escape clause" for the vendors to pull the sale or not proceed?

This is not really investment related, but... If someone makes a contribution for a "lifetime interest" in a granny flat (or similar), is this amount assessable for tax for the persons(s) that received the contribution?

Hmm true. No issue with running it like that. Are there any lenders that may be better with valuations (after the renos) for the LOC?

It's just the circumstance and a rough estimate. Am I not better trying to reduce my PPOR loan when I can, seeing this is the one I'll be paying down, while the IP(s) LOC are run at IO?

Looking at buying a new PPOR with ~50% deposit, drawing down on the equity for renos and having the property revalued after to access some more of the equity for my first IP. I was considering using a LOC in both instances (renos and IP). Any particular lenders I should look at for this...

Thanks - you're always very quick with the replies. Are all parties on the loan equally liable regardless of the tenants in common split?

Hopefully some simple questions... If you have a "tenants in common" title with three parties (non-equal split) are all three parties required to be on the loan also? If so, can LOC(s) be setup in two of the parties names, or again, are all three required?

Thanks for the advice guys. CJay - in simple terms, yes this is the situation and why I want to make sure that I get it right, to set ourselves up properly for down the track.

I guess I would be getting taxed on the income from the rent, but there would be no deduction against that property? I seems like it might be better to sell, have a reduced loan on the new PPOR3 and then draw down on it's equity to purchase new IP(s) and start these from scratch? What...

Hi, I'm just starting out hoping for some thoughts and guidance. My situation is essentially as follows (values are conservative): PPOR1 value 420k owe 340k PPOR2 value 500k owe nil No other loans, CC etc We are looking at a new place due to family needs and expect this to be...

Thanks for the quick responses and advice. My current loan has an offset facility, though I'm not sure whether I can covert it straight to an IO loan. So I would end up with three separate loans? IO (IP) PI (deposit) PI (new PPOR) What do I need to know to make sure the...

The usual story - long time reader, first time poster. My wife and I currently have a PPOR (value 410k, owe 308k). We've found a new house that's perfect for our expanding family and would like to keep the PPOR and convert to an IP, but need some guidance with the following: Is there...