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FHOG question

Discussion in 'Property Finance' started by Glorion, 22nd Aug, 2015.

  1. Glorion

    Glorion Well-Known Member

    Joined:
    26th Jul, 2015
    Posts:
    81
    Location:
    Sydney
    Hey everyone,

    I have a question pertaining experiences in obtaining the FHOG in nsw. The apartment I am looking at has been purchased OTP, but never been lived in (my understanding is there was issues with the developer and it took 2 years longer than expected to complete). The owner has since decided to move out of country, and needs to get rid of it (I guess a lot changes in 2 years time!)

    My understanding is that once it has been purchased, it is no longer FHOG accessible, however, I thought I'd try my luck to see if im wrong.

    As an aside, the solicitor I use has just gone on holidays and I havnt sourced another just yet.

    Thanks a lot!
     
  2. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    200
    Location:
    Canberra now Sydney
    I'm pretty sure you're right. If it's had another owner, I don't think it counts as "new" anymore, even if they haven't moved in.
     
  3. Angel

    Angel Well-Known Member

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    19th Jun, 2015
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    Location:
    Paradise, Brisbane
    Is the Discount you get for buying it second-hand greater than the value of the FHOG? If so, you can just buy it anyway if the property meets your requirements.
     
  4. Be Developer

    Be Developer Property Developer Business Member

    Joined:
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    Location:
    Australia
    Best to check with OSR.

    Apparently, you can get a letter of declaration from vendors solicitors that no one lived at property and it is brand new.
     
  5. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
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    641
    Location:
    Sydney
    Not sure about other states but in NSW you won't be able to claim the grant even if the previous owner hasn't settled on the property (which is crazy really).
     
  6. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Location:
    Sydney