Join Australia's most dynamic and respected property investment community

Purchase Anonymously

Discussion in 'The Buying & Selling Process' started by charli, 16th Sep, 2016.

  1. charli

    charli New Member

    Joined:
    16th Sep, 2016
    Posts:
    4
    Location:
    Brisbane
    Hi all,

    Long time lurker and always get so much valuable info here.

    I have searched and cannot seem to find much on purchasing Anonymously (well to remain anon during contract signing).

    Is there anyway to do this? I have a Company/Trust structure and my agent has said doesn't matter as the Sellers agent will just do a search to confirm valid Directors and will reveal my details to seller.

    The purchase is subject to finance. Have asked the agent to submit verbal offer first but said that cant do that need on contract.

    Could you please advise of any other ways to have initial negotiations/contract signing to be anonymous? Once contract signed I don't mind at all.

    Thanks
     
  2. Agent30yrs.

    Agent30yrs. Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    153
    Location:
    Brisbane
    You could do it by a Put & Call option but it gets a bit complicated and messy
    Put & Call Options - Carter Capner Law
     
  3. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,502
    Location:
    Sydney
    What are the reasons for buying anonymously? Buying your neighbours?
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,544
    Location:
    Sydney or NSW or Australia
    Searches won't happen until the property goes unconditional - vendor will not spend money on searches until asked by the solicitor which is after the contracts are exchanged.
     
  5. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,569
    Location:
    Adelaide, SA
    Can buy anonymously.

    1. Use a BA
    2. Buy in a trust
     
  6. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,942
    Location:
    Sydney
    Its easy.

    A bare trust. X can sign the contract and you can transfer title later - nominal or no stamp duty and no CGT if done correctly.

    Or find someone to be director of the company and change directors later. The company may also nominate you before settlement and there may be stamp duty concessions.

    Or someone else enter the contract and nominates you before settlement.

    All the above have various issues to get legal advice.
     
    York, Perthguy, kierank and 1 other person like this.
  7. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    I was going to say the and/or nominee
     
    kierank likes this.
  8. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    I can't think of reason I would need to do it.
    It's only temporary anyway isn't it?
     
  9. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,502
    Location:
    Sydney
    Only OP knows.
     
  10. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,942
    Location:
    Sydney
    some reasons:
    1. Seller is the neighbour and would ask for more money knowing the additional value in a double block.

    2. buyer knows the seller and they don't like each other.
     
    Perthguy and Scott No Mates like this.
  11. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,502
    Location:
    Sydney
    Yes. I've thought of that too with my neighbours... But I flagged it that I'm interested right from the beginning.
     
  12. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Would you just go and knock on the door and ask them if they would consider selling to you?
     
  13. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,942
    Location:
    Sydney
    You could post them a letter but talking to the is the obvious way.
     
  14. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,502
    Location:
    Sydney
    I have flagged it with the owner before but she won't remember it now. Won't be cheap anyway so may not be a possibility for me.
     
  15. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Cheap is relative.
    Would it make it worthwhile to be able to do a larger development in the future?
     
    larrylarry likes this.
  16. charli

    charli New Member

    Joined:
    16th Sep, 2016
    Posts:
    4
    Location:
    Brisbane
    Thanks 30yrAgent, I haven't heard of that but will look into it
     
  17. charli

    charli New Member

    Joined:
    16th Sep, 2016
    Posts:
    4
    Location:
    Brisbane
    Yep...well a neighbouring property up the road we have been very interested in since we moved to the area but the problem being that my husband and the owner haven't exactly seen eye to eye over the past few years. Whilst I know our money is the same colour as others so to speak I am thinking that they may not be as willing to negotiate on our offer knowing its us other than a completely unknown party.

    We wouldn't be lowballing either, we would offer what we believe its worth and the reasons why. Our offer will be under the listing price and I think by him knowing it is us then they may possible be thinking we are being negative towards their property or something like that.

    I could be completely wrong but just though may be easier to be anonymous when we offer.
     
    Perthguy and larrylarry like this.
  18. charli

    charli New Member

    Joined:
    16th Sep, 2016
    Posts:
    4
    Location:
    Brisbane
    Thankyou everyone for your replies at least now I know it can be done and I will look into all the options a little more.

    Weve never had to look at this option before but if its a way to take the personal side out of negotiations then I will try give it a go.

    I was going to comment under each post a reply but have no idea how to:confused:
     
  19. MrFox

    MrFox Well-Known Member

    Joined:
    20th Aug, 2015
    Posts:
    139
    Location:
    Melbourne
    Just use "and or nominees" clause and get some one else to sign the Contract of Sale. I did that once for someone wanting to buy next door neighbours property. 14 days before settlement you fill out the nomination clause and its done deal. Obviously I trusted the person other ways I would be stuck with it.
    I am in Victoria so make sure you can do it in your state.
     
  20. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,942
    Location:
    Sydney
    Just get some legal advice on the stamp duty implications. It can result in double duty - even in vic.
     
    Perthguy likes this.