Browse Forums General Discussion 1 Oct 27, 2014 6:15 am So, my fiances father passed away and we were looking to KDR her mums home so that we could all live in it. Does anyone know how we would go about the finance for a kdr home on her mother's block? The block is 100% owned(no mortgage). Would we just make her mum party to the loan? Its worth noting she had no income, and likley wont have anything stable for the forseaable future. Trying to understand if we can do this. If not is there away for her mother to gift the block to her daughter without paying aditional fees (eg stamp duty) Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Re: Acquired land for KDR, but.. 2Oct 27, 2014 7:24 am Your accountant and/or solicitor would be the best ones to talk to regarding this rather than rely on advice from an internet forum. A quick chat to either wouldn't cost you much, if anything and they would probably have to be involved at some stage if you go through with this anyway. Stewie Re: Acquired land for KDR, but.. 3Nov 10, 2014 10:23 pm Definitely get advice, can be done with her and you all on the loan - but it poses issues, not the least of which is exit strategy if you want or need to sell. It also means anything you want to do in future is subject to all of you signing off as a committee! And, if there's no income for mum you have to carry her expenses, and no doubt that's part of the reason for doing it anyway. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building We were lucky in that our old house was so small (86 square metres) compared to the new house, they were able to take enough readings around the old backyard house before… 8 37085 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 18897 Hi, I am looking into doing a KDR in Melbourne and am contemplating using Kialla Homes. I am looking for feedback on them from others who have built with them. 0 13437 |