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Ex-Housing Commission Houses

Discussion in 'Accounting & Tax' started by melbournian, 1st Apr, 2016.

  1. melbournian

    melbournian Well-Known Member

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    Came across many semidetached houses on sizeable blocks of land 550-650sqm (which really are gems). I spoke to RAMS who says the normally would not consider these houses? is this something that is across the board?
     
  2. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Well theres your problem ;)

    Did tey give you any reason why they are not acceptable security? Sounds like a bit of BS
     
  3. Simon Moore

    Simon Moore Mortgage Broker - Melbourne Business Member

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    I'm surprised RAMS said that, I have never had any issues getting clients loans on old housing commissions places.

    What reason did they give for not considering them?
     
  4. melbournian

    melbournian Well-Known Member

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    @Simon Moore it was a person i knew which i just asked. Seems she was on the assumption that it was like in a complex or something when it was a stand alone property on 600sqm.
     
    Simon Moore likes this.
  5. Simon Moore

    Simon Moore Mortgage Broker - Melbourne Business Member

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    @melbournian Ah, sounds like you are getting some bad advice. I'm Melbourne based, happy to have a chat, if you need any help drop me a message.
     
  6. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    I saw this with a client who tried to buy old houso 1bed units. Asbestos was the deal breaker and the bank said no due to risk
     
  7. 2FAST4U

    2FAST4U Well-Known Member

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    I love ex-trust homes. They are generally all built like bomb shelters and have decent sized back yards.
     
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  8. MTR

    MTR Well-Known Member Premium Member

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    I doubt this is correct when you consider a larger proportion could be sitting on valuable land. Makes no sense to me whatsoever
     
  9. norwoodman

    norwoodman Well-Known Member

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    Pretty much everything built after World War II up in to the mid 1980s has asbestos in it in some form or another. It's not so much the non-friable stuff that is hazardous to handle as it is the friable type.