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At Caputo Lawyers, our best advice to anyone purchasing property is Preparation is Key!
There are many steps to get yourself in the best possible position to secure the property you want.
“Who you choose will make a difference”
If you have a certain property in mind that you want to purchase, are you also willing to start with the actual business of purchase; the pre-settlement inspection, the conveyancing bit, the signing of the contract of sale and so on?
As an investor you most likely would want to know all about the rental yield of the neighbourhood, the comparable sales figure, the history of capital growth, zoning restrictions (if any), among other things. You will find that it is wise to ask a few more questions as part of your sue diligence.
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On even limited introspection anyone can figure out what Title Insurance is likely to be. Its a policy that insures you against costs arising out of vendor folly after the conveyancing process is completed. Vendors, fearing termination of contracts, sometimes hide major issues like illegal constructions, lack of council approvals, fixed-term leases, encroachments or easements. The list is not exhaustive by a long margin.
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First home buyers/owner-occupiers and investors approach a property with different mindsets. While the latter is not too worked upon immediate possession or an undisclosed lease, the former might want to move in immediately. Naturally, the prospective FHB or owner-occupier likes to know all about the term of the lease (periodic or fixed), details of possession (vacant or tenanted) and whether the lease document is precisely reflected in the Contract of Sale.
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Bankruptcy applies to individuals just as the term Liquidation or Administration applies to organisations. There are two ways to attain the bankruptcy tag. Either your creditor, dismayed by your continued defaults, forces the bankruptcy label on you or you yourself decide on voluntary bankruptcy.
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If you have multiple commercial properties in your portfolio and you are not sure what kind of capital gains tax concessions apply to them. You are not the only investor caught in such a dilemma with regards to multiple property investments. The Australian Tax Authority (ATO) has got a protocol for treating small business CGT concessions and it is based on whether they treat the property as an active asset or a passive one.
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In the past, employers running small businesses (keeping 15 employees or less) could pick and chop workers as they liked. They were not subject to any explanation. This scene has drastically changed since July 2009, following the enactment of Small Business Fair Dismissal Code. Now, employees can be sacked only in adherence with rules and strictures, failure in following the process is counted as unfair dismissal. Here is more.
Even as the capital cities are witnessing robust capital growth, rental yields are declining in various neighbourhoods stretched across them. Landlords then are on an overdrive to minimise vacancy rates. Among other things, they are not afraid of offering the lease incentive bait to the prospective tenants.
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We are not new to contractual disputes. Whether we talk about employment contract, franchise contract, land sale contract or any other contract for that matter, there are possibilities that disputes arise with them on a later day. Let us read a little bit about what a contract is. Perhaps being better informed about the document may help us be better prepared in regards to its implications.
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Even those who have got distinctive leadership traits weren’t born that way. It is just that they picked the tricks faster than others. In this article, let me flatly summarise for you seven tried and tested tips of management.
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