Page 53 - Tropic Magazine Issue 16

TROPIC • OPINION

Daleena Hartin
Senior Conveyancer
Holding Redlich

Rules to buy & sell by

The start of 2019 has brought a renewed sense of activity in
the Cairns real estate market. Foreign Investment Review Board Act and also consider
I am often asked by clients: “What tips can you give me that special conditions will be needed in the contract to
about the property market?” So, here are my top five allow for this.
property acquisition and sale tips: 5. If you are selling a property, make sure the sale price
1. Talk to your broker and banker well in advance of signing will cover the mortgage owed to your bank. This can
a contract. be especially important where properties may be cross
2. If you are acquiring a property for investment purposes, guaranteed and collateralised. Your bank may want to
talk to your accountant about whether the buying entity conduct fresh valuations prior to agreeing to releasing
should be in a company or a trust. your mortgage over one property.
3. Whether you are buying a residential or commercial While we have seen some positive signs of renewed
property, consider obtaining a specialist Building confidence in the local property market so far this year, as
Inspection Report. always, we will be keeping a close on eye on property market
4. If you are selling to a person that is not an Australian trends as the year unfolds.
resident or citizen, consider if the buyer of your property
will be eligible to purchase the property under the MORE: holdingredlich.com

Nikki
Huddy
Managing Director
PLANZ Town Planning

Billion dollar ideas

1 billion is a very big number.
A billion seconds ago it was 1959.
A billion minutes ago Jesus was alive, and... mismatch between the value of the project to the developer
If I give you $1 billion and you hand out $1 per second, 24 and the cost to our community.
hours a day, seven days a week, you would still not have Next time you hear a politician use the word ‘billion’ in a
handed out $1 billion after 31 years!! casual manner, think about how you would like $1 billion of
A billion is hard to comprehend and you can see this playing your tax money spent.
out in the political debates around the world. It is one of my
favourite things to monitor in news stories. For instance:
• Housing for 1200 families ($0.5b)
Some examples: • Doubling the existing Cairns and Hinterland Hospital
• Sydney to Melbourne high speed rail: $1 - $3.5 billion and Health Service budget of $0.9b
• US border wall: $25 - $59.6 billion • More teachers and class sizes reduced to 15 students ($0.5b)
• Cairns global tourism hub: $1 billion • All bus fares $1
• Melbourne rail loop: $11 billion What’s a billion dollars worth to you, your family and your
The real cost of investment often gets lost in the spruiking community these days?
- the ever-increasing but meaningless price tag seems to
be a badge worn with pride… and confuses us about the MORE: planztp.com

53 • tropicnow.com.au