just the basics to get me started, for now.

thanks!

Thanks for your help.

So are you saying they are basically the same thing?

cheers
AO

Thanks for all your comments.
My friend got the loan and the valuer’s comment turned out to be just a comment. Any that valuer looked dodgy to my friend and I. We don’t think he is very professional—he is originally from a 3rd-world South-Asia country and was dirty and he didn’t smell too good. We were shocked to know he was the valuer we were expecting when he introduced himself.

anyway with the strong rental yield this property will be positively geared and my friend is not worrying too much about that comment.

Thanks again for all your input.
AO

Hi Luke
Could you please give a little bit more details of pros and cons of both?
I have no idea so would like to hear anything helpful!

many thanks!
AO

Hi Elka
Thanks for your input.
I'm not trying to do anything illegal here. The bottom line is that i can buy it under the market value and it's just a matter of playing numbers.

Could anyone help me with the other 2 questions? I'll repeat them as follows:
1) do banks tend to value full-brick units higher than brick-and-veneer units if all other factors are the same?
2) Is it even possible to get an even higher valuation? cos the other big project 5 minutes away is selling comparable 3-bedders for minimum $635K and it seems they don't have an issue with valuation either. Is it possible that i can get my unit valued at close to $635K? When valuers do their valuation, do they only look at comparables in the same project, or do they take into account nearby similar comparables as well?

Many thanks!!!
AO

Hi Panda
Thanks for your comments.
Why do i want to value higher? Because i want to fork out less cash for down payment. If it's valued at $650K most banks will be happy to lend you 80% i guess. that means i can borrow $520K. But the actual selling price is only $530K which means i only need to fork out $10K.

Could anyone else help me with my other questions?
Thanks!
AO

Thanks for your help Julie.
I asked that question cos i got a call from a friend of mine who is an agent. he said a developer will launch a new project close to Sydney's CBD, with apartments that are totally refurbished. it has already been done. the price looks not-too-bad but just not sure about the warranty thing.

cheers
ao

Hi
thanks a lot for all your feedbacks.
actually the situation is this: the agent wants my business so badly that he says he’s willing to give me discounts from his own commissions(his logic is some commissions are better than nothing). my logic is like this: since the agent gets paid from the developer, the developer should be able to give me a bigger discount but i’m just not sure if i can get that…

cheers
ao

hi thanks for your comment.

actually i’m not seeking financial advice here. i’m not asking “should i buy or not?” i’m just asking to see if there’s anything negative about that area, anything that could be an instant turnoff to other buyers—i personally wouldn’t buy properties in Auburn, Macquarie field and Redfern in Sydney.

any other Melbourne locals here could point out one thing or two regarding that area?

thanks a lot in advance
ao