Forum Replies Created
g’day – it is my experience that real estate agents will try any ‘technique’ to get a better price for their principals ie the vendor. being economical with the truth is a standard negotitaition skill.
to be a good negotiator you need a healthy dose of paranoia and cynisism. its always important to ask yourself, who is making money from this deal and what type of techniques could they use to push up the price.
a few tips
– make offers for a short as time as is reasonably possible. gives you a get out if you get cold feet. alternatively if the vendor comes back quickly within time – you know you have a ‘live’ one!!!!
the agent will push for a long reply time so that you can have time to get ’emotionally attached’ to the property.– always make offers with ‘subjects’ ie subject to building inspection, finance etc. always clse the subject ‘to buyers approval’. free insurance!
– if your making offers on multiple places in the same area, make the agent accountable. tell him you have another property via another agent and youre giving him the first shot.
– most important rule to negotiation is to understand that if you miss out on the property there will always be another one. this will stop you from exceding your limit and give the agent and the vendor the vibe that you wont be traded beyond your expectations.
– another important one is that if you spot a great deal – dont stuff around and be cute. buy it quickly cause the chances are someone else will come in and spot the same thing.
cheers
sorry to be a killjoy but your decision should not be based on your ability to repay the loan but on whether it is a sound investment. that type of thinking is exactly what is pushing the market up through the roof.
i can afford to pay for a car – doesnt mean its a good investment. c,mon
i think its too simplistic to say that we were all in the same situation 20/10-5 years ago – because we were not. the ration of bebt to equity are stretched to the limit. affordablity is at an all time low. to advise people just to ‘reach for the sky’ without any forethought into the possible consequences is reckless. the property market is a ‘market’ dont forget. soemthing will happen to redress the balance. what form it takes and when it happens is your guess. having said that there are always ‘good investments in every market’. the property market is amde up of many markets. staying liquid and keeping your debt in check is the key – along with patience. its not a game. i dont like it when people say – ‘get in the game’. it may look like monopoly but the money is real.
balance
sparticus, i am doing the same thing. stamp duty will not be payable when building on a vacant block (this may depend on the price of the block). if in doubt on what you can claim you should keep a log book of all the expenses you accrue from now on and then ask your accountant.
apparantly you dont necessarily need to have an asset that is already making money in order to claim. the promise of future income may be sufficient.cheers
g’day blake – i could be wrong but if you live in a house which is under your wifes name then you dont get the fhog…i think.
thanks brent. it would be great to get everyones view on this. can we keep ignoring the warnings? My fear is that people dont regard property invesment as a ‘market’ – but a entity that always increases.
does anyone else have serious concerns??
rgds
thanks stu – i will contact john.
venus bay is fantastic – if you ever need a holiday you know who to email
cheers
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