I don’t think you have purchased this property yet, it seems to be just an expression of interest (EOI). Just send them an e-mail saying that you want to cancel, that should be enough. Check the copy of the form you signed; it must say that as a customer you have the right of a 7 day cooling off period or something in those lines. Even though it doesn’t say anything (it should) you still have this right.
Is never a good idea to deal with these type of companies. You have no control over what you buy and also they are paid by the developers. Even though they try to make it look tailor made they sell the same home and land packages to everybody. The only thing that matters to them is your borrowing capacity and whether you have savings/equity for the deposit (that’s why they ask you for your financials).
Ask the sales consultant/s that helped you along the process if they have a retirement plan or how many of these investment properties have they bought for themselves and you’ll be surprised with the answers. Its better to spend some time, educate yourself and then buy.
Well guys, I haven’t done any renovation yet, so I’m clearly not an expert in this topic. However, I have to agree with David, a soft market must be great to find properties under market. Actually I’m going tomorrow to see Dominique Grubisa who teach people how to buy property at up to 10 – 30% discount so you can profit the second you buy. My idea is to combine both strategies (Dominique + Cherie). Now, my question is: Does it really matter in what market you buy? When you do renovations, you pretty much buy and sell in the same market, isn’t it? And, if the idea is to hold the property, well it sounds like good news as the market will eventually correct. But as I’ve never done it before, there’s a good chance that Rob is spotting things that I don’t see. Thanks for the heads up. Appreciated.
This reply was modified 9 years, 2 months ago by Covelli00.