First pre auction offer help!

[epoh]

Hi,

I'm planning to put in a pre auction offer soon, but would like to know about the necessary steps to take before doing so.

1) Accountant - should I find one before the offer or is it okay to find one only after I bid for the property? Have not decided if I want to put it under my name or set up a company. Would there be any cost incurred if it's bought under my name during the auction, but I change it to the company's name or trust name before settlement date?

2) Settlement date - What's the typical no. of days for settlement for auction?

3) Lawyer - how much does it usually cost to get a lawyer to check the title for you before attending the auction?

4) Valuer - is it necessary to get a valuer if the bank does not require one?

5) Are the costs such as surveyor, building inspection, valuer cost etc tax deductible?

Thank you!

[Davo36]

Hi epoh, welcome to the world of property.

These sorts of queries are coming up almost daily now on PT, I suggest you look at this thread: http://www.propertytalk.com/forum/sh...tting-an-offer

And also just do a bit of a search on this site.

[mortgage broker]

You should get titled checked, some lawyers don't charge for unsuccessful properties or very little, i find the Conveyancing shop and Gandhi Lala really good

Settlement date is usually one month out

Valuation usually required off low deposit, check this with bank

The rest can be sorted after