Luchetti and Co

Caveat vendor - seller beware

white@msn.com.au (Bruce White) — Tue, 06 Dec 2005 22:53:00 +0000

Caveat emptor is the common problem – buyer beware. But when it comes to property, there is also caveat vendor - seller beware.
It is worthwhile being informed and knowing that things can happen when you open your house for inspection. There are precautions you can take.

Asset Rich - Cash Poor?

white@msn.com.au (Bruce White) — Sat, 26 Nov 2005 05:31:00 +0000

Reverse Mortgages - money for nothing or nothing for your money. It is a problem faced by many people, especially the elderly. On paper, you are rich, you own your own home.
What happens with some of the solutions around at the moment?

Property Market Outlook - not gloomy

white@msn.com.au (Bruce White) — Mon, 07 Nov 2005 07:01:00 +0000

The Reserve Bank of Australia said the current downturn in house building activity is likely to be shallow by the standards of previous cycles. Meanwhile, average nationwide house prices appeared to have remained fairly stable in recent quarters. more from SMH...
AND why don't they link to the Bank's article?
July 2006 update on the market

Smoke Alarms and Selling Properties

white@msn.com.au (Bruce White) — Tue, 02 May 2006 01:18:00 +0000

Changes to Conveyancing Procedure
We will be advising clients who are selling about the additional disclosure requirements and obligations in relation to smoke alarms.
To work out where you need to place them and how many you need see your electrician. This information is also available at planning.nsw.gov.au/.../smoke_alarms_advisory_note.pdf

Conveyancing in digital form

white@msn.com.au (Bruce White) — Mon, 09 Jan 2006 04:17:00 +0000

Transfer of property has lots of old fashioned paper-based safeguards. As the various authorities explore conveyancing electronically, which of these will convert and which will be lost? Are there other benefits? [more..]

Land Tax NSW

white@msn.com.au (Bruce White) — Mon, 06 Feb 2006 22:47:00 +0000

From 1 January 2006, the NSW Government reinstated a $330,000 land tax free threshold (having abolished the $317,000 tax free threshold the previous year). This means that land tax will no longer apply to many taxpayers.
However, those who own property above the threshold may have to pay more, the rate of tax rises to 1.7 per cent.

Retail Lease Security Bonds

white@msn.com.au (Bruce White) — Thu, 02 Mar 2006 22:08:00 +0000

From January 1 security bonds now have to be paid over to the government. As a result it will become more difficult for landlords to make a claim against the bond. Landlords will have to make written application detailing their claim against the bond.
Tenants will be entitled to dispute the claim, with disputes ultimately being resolved before a tribunal. This is a significant departure from the old system.
In New South Wales, landlords are required by March 31 to deposit all tenants’ security bonds with the Director-General of the Department of State and Regional Development regardless of when the tenancy commenced.
Also landlords will be required to advise tenants in advance how promotional/advertising levies will be spent.
NSW - Retail Leases Amendment Act 2005

Heritage listed

white@msn.com.au (Bruce White) — Sun, 02 Apr 2006 23:22:00 +0000

There are several different types of heritage lists. Property owners can face cumbersome battles with the council in an effort to demolish or make renovations to properties protected by heritage legislation.
Find out the significance of the heritage of your property and consider getting legal advice before you make an excavation.[more..]

Commercial lease traps

white@msn.com.au (Bruce White) — Tue, 04 Jul 2006 03:52:00 +0000

Make sure that your commercial lease is properly executed. In small business, when it comes to the formalities of executing a lease, and understanding your rights and obligations, it pays to get legal advice to protect the business. [FAQ..]

10 year Sinking Fund Plans

white@msn.com.au (Bruce White) — Fri, 09 Jun 2006 03:59:00 +0000

Owner corporations will be required to work out their capital expenditure needs for the next 10-years. Owners corporations are expected to use either their own resources or outside experts to devise these plans.
When you have to do this is determined by your strata number:

Numbers 50,000 and over by 1 July 2006

SP 30,000 – 49,999 by 1 July 2007

SP 10,000 – 29,999 by 1 July 2008

SP 1 – 9,999 by 1 July 2009.

By the second AGM after these dates a plan should be in place. So hopefully, this should remove one of the surprises of being a unit owner.
More...[fairtrading.nsw.gov.au/.../strata/sinkingfunds.html]

Law Firm via email

white@msn.com.au (Bruce White) — Wed, 06 Jul 2005 01:46:00 +0000

For all your conveyancing, will and estate matters we can help you via email.
Send email to us at this email address

Contacting Us

white@msn.com.au (Bruce White) — Fri, 08 Jul 2005 04:26:00 +0000

If you use Outlook then you can add our firm's contact details (to your contacts folder) by downloading and opening this VCF file.
(Luchetti.vcf)

Faxes:
If you use Fax and you have caller ID enabled we will advise you if any faxes from you fail (for whatever reason).

Our firm has a policy of not buying ANY products from information sent via unsolicited fax, email or letter.

Letters:
Posting to our street address can add a day to the delivery. Please use the PO box.

You need to know about living wills

white@msn.com.au (Bruce White) — Sat, 23 Jul 2005 00:02:00 +0000

It’s a situation that everybody dreads. You’re lying motionless and stricken in a hospital bed. Perhaps important decisions need to be made about your treatment, your property or your life. But you can’t move, you can’t speak - you can’t make them.
Does that mean any wishes you might have had while you were conscious could be ignored or overridden? Is there any legal way of preparing for a situation like this?
Well, yes, there is..[more]

Conveyance with Confidence!

white@msn.com.au (Bruce White) — Thu, 04 Aug 2005 00:22:00 +0000

Conveyancing often seems to be a rather clerical, time consuming and even impersonal process. Fix this by being better informed, know what is going on. Keep in mind that it is basically swapping a lot of money for a bit of paper that says you have the property.
See our article for an explanation of the conveyancing process..

Advice Price plus four percent?

white@msn.com.au (Bruce White) — Sun, 14 Aug 2005 23:26:00 +0000

Article by Steven D. Levitt and Chad Syverson (PDF format):
pricetheory.uchicago.edu/levitt/Papers/LevittSyverson2004.pdf

In the US real estate agents receive only a small share of the incremental profit when a house sells for a higher value. There is an incentive for them to convince their clients to sell their houses too cheaply and too quickly.
Levitt and Syverson find that homes owned by real estate agents sell for about 3.7 percent more than other houses and stay on the market about 9.5 days longer, even after controlling for a wide range of housing characteristics. [more..]