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Selling to yourself

Discussion in 'The Buying & Selling Process' started by wayne, 29th Sep, 2016.

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  1. wayne

    wayne Active Member

    Joined:
    4th Jun, 2016
    Posts:
    35
    Location:
    ACT
    We are looking at removing a IP from a Trust.With a recent property inspection uncovering that the property has suffered structural damage (roof and foundation sinking issues) as well as the current tenants (uni students) trashing the property.

    What would be required to determine reasonable value when selling to yourself with regard CGT.
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,970
    Location:
    Sydney
    valuation?

    The bank will require a valuation if you will be mortgaging the property - you could use that.
     
  3. TMNT

    TMNT Well-Known Member

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    23rd Jul, 2015
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    Location:
    Melbourne
    yes, i am willing to sell myself, but i would never find a buyer
     
  4. jrc

    jrc Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    76
    Location:
    Regional NSW
    Any repairs you carry out after you purchase from the trust would be classed as initial repairs.