Guest billy braveheart Posted October 23, 2007 Share Posted October 23, 2007 Hi Guys Just thought I would share this with you incase any other 457 visa holders get caught in the same trap as we nearly did. Ok on a 457 you are entitled to buy a house & we knew that we wouldnt be entitled to the first time buyers grant of $7000. But what we didnt realise is that you are not entitled to stamp duty relief & also need approval from the FIRB which is the Foreign Investment Review Board. We bought a house that we really liked and the day before we where due to sign for it I discovered this. The stamp duty was putting a extra $40 000 on to the mortgage & we didnt have FIRB approval which was part the Real Estate Agents fault. So we had to pull out of the sale & are now renting until we get the perm visa. Once we have the perm visa we will get the first time buyers grant & stamp duty relief. Unless you want to fork out the stamp duty my advice would be to rent until you get your permanent visa. Janette Link to comment Share on other sites More sharing options...
Guest JoanneHattersley Posted October 23, 2007 Share Posted October 23, 2007 Hi Guys Just thought I would share this with you incase any other 457 visa holders get caught in the same trap as we nearly did. Ok on a 457 you are entitled to buy a house & we knew that we wouldnt be entitled to the first time buyers grant of $7000. But what we didnt realise is that you are not entitled to stamp duty relief & also need approval from the FIRB which is the Foreign Investment Review Board. We bought a house that we really liked and the day before we where due to sign for it I discovered this. The stamp duty was putting a extra $40 000 on to the mortgage & we didnt have FIRB approval which was part the Real Estate Agents fault. So we had to pull out of the sale & are now renting until we get the perm visa. Once we have the perm visa we will get the first time buyers grant & stamp duty relief. Unless you want to fork out the stamp duty my advice would be to rent until you get your permanent visa. Janette When we bought our house, our realtor did the FIRB thing for us. That was done really quicly and easily. I am damn sure we never had extra stamp duty put on our home. The price we paid was the listed price. I think things are different state to state. I know that QLD is different to NSW. Link to comment Share on other sites More sharing options...
Guest billy braveheart Posted October 23, 2007 Share Posted October 23, 2007 Hi there It probably is different from state to state but this applies to Perth. Why dont they just have one set of rules for the whole of Australia it would certainly make life easier lol. Janette Link to comment Share on other sites More sharing options...
tisme Posted October 23, 2007 Share Posted October 23, 2007 The same conditions apply for the stamp duty relief as the FHOG, so if you don't qualify for FHOG then you don't qualify for the stamp duty relief. Link to comment Share on other sites More sharing options...
Guest cherylnandy Posted October 23, 2007 Share Posted October 23, 2007 Hi Janette I am so sorry to hear you did not get the house you wanted, but thank you for sharing it with us. We are in the early stages of emigrating and have started to email mortage advisers over there re buying houses etc. Looks like when we do get over there we will be renting too Hope you get your pr soon so you can go ahead and buy a house Regards Cheryl Link to comment Share on other sites More sharing options...
Guest Helaine Posted October 23, 2007 Share Posted October 23, 2007 thanks for that we are now going on a 457 and will defo rent for a few months, hoping to apply for perm visa after 3 months, if anyone knows any different please let me know. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.