House and Land Packages Melbourne

Nominations

Nomination Sales in Melbourne

 

“Looking for your next Investment Property or Owner Occupied Property with significant Stamp Duty savings ?”

New properties under construction, close to completion or recently completed apartments or townhouses

Sales under nomination have arisen mainly due to the way banks have recently changed their lending policies, for both local purchasers and off shore purchasers making it difficult or impossible for them to be able to borrow

‘The properties are great, the banks are just ‘full of it’ at the moment’

These buyers / investors originally bought off the plan and signed their contracts which included a built in clause “… and or nominee” and what this means to you is that if you take over their contract today as the Nominee, you are taking over the contract from the date it was originally signed

Since these contracts were signed there has been a significant change in the Stamp Duty Act and taking over someone’s contract as the Nominee (in your own Name) there are significant stamp duty savings available to you as a result

An example (for demonstration purposes only) the original purchaser signed the contracts (prior to the Stamp Duty changes) and went unconditional on this contract by putting down the required 10% deposit for off the plan. Stamp duties applicable at time of completion for this purchaser will be around say $6,500 at settlement; then this is the stamp duty you will pay when the property settles in your name. The same applies if you invest through your SMSF / Super

If you were to invest or buy the same property under today’s stamp duty legislation a property in Victoria valued at $400k will require around $21,000 of stamp duty, or a property of say $650k will require $36,000 stamp duty. Can you see the massive savings you will achieve by securing an investment property under Nomination!

Another benefit investors and purchasers do not realise is that these properties will cost you less per square meter now than if the developer were to sell the same product today. Primarily because they were priced and budgeted between 2 to 3 years ago and build costs and land costs have risen since then. It would be nearly impossible for a developer to be able to put the same project up on the site next door at the same price and still make his profit

In other words you will achieve two forms of Savings :  (a) massive stamp duty savings and (b) pay less than you would today on a similar off the plan project

It is not possible to list the properties which are under Nomination as they change all the time. To give you a generalised overview see below :

  • 1 bed apartment from $437k to $550k
  • 2 bed apartment from $564k to $850k
  • 3 bed apartment from $900k upwards
  • 3 bed Townhouse from $670k to $1,5m
  • 4 bed Townhouse from $880k to $2.2m

Locations with off the plan nominations are from inner Melbourne CBD to suburban Melbourne

 

Comments or questions are welcome.

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Apartments under nomination; Townhouses under nomination; Townhomes under nomination