When a potential investor or buyer hears the term “mortgagee sale” or “repossession” you can often see the dollar signs in their eyes. There is a common view that mortgagee sales come with a lower than market value price. This can be correct in some cases, however thorough due diligence should be conducted before purchasing this type of property. Below we will look into the usual process in WA for mortgagee sales, as well as the pros and cons of...
Are you aware that your build might have extra costs to meet the requirements of Bushfire Attack Level (BAL) assessment/report being obtained and being below a certain level to ensure building is less prone to bushfire loss.These requirements monitored by the local council could add thousands of dollars to your build costs. More information might be obtained here along with map of prone areas.https://www.dfes.wa.gov.au/waemergencyandriskmanagement/obrm/Pages/default.aspx The building standards are not retrospective. Only new class 1, 2, 3 or 10a buildings (and additions/extensions in certain...
This article in New Zealand seems to indicate a growing trend… So might be worth considering for your lease between tenants and part of your contractual purchase conditions… Q+A: What you need to know about methamphetamine contaminationA unit in a Housing New Zealand complex in Panmure is decontaminated after methamphetamine tested positive.Houses contaminated through the cooking or smoking of methamphetamine is a growing issue in New Zealand.Just one session smoking the Class A drug, also known as P or Ice,...
The National Electrical and Communications Association (NECA) have previously published information regarding the issuing of electrical safety certificates. NECA has received confirmation via email from the Department of Commerce stating the following:“Safety certificates are not to be issued unless it is installation work as described in the Electrical (licensing) regulations 1991 section 52B. Going to a property and ensuring correct operation and that the premises complies to the legislation is not installation work. The form is an official certificate and...
