Hi lachmorr,

Make sure the properties are not cross collaterlised, that is each property has its own contract rather than two properties on one contract and your finances are structured correctly in your favor not the banks. Seek advice from a broker on this. 

I would engage the services of a solicitor with each party appointing separate representatives.

A contract of sale would be required as you will need it for legal reasons as well as to attain finance from the bank.  

ANZ are the 12 month self employed niche bank. 

Wow D'OK that is, to be kind, bad customer service and business people have no excuse to not respond promptly to clients and potential clients with all the means of communication at our fingertips.

To add to the OP every one in business has an angle. Not that its wrong but when sitting in front of someone attempting to sell or persuade you in a particular direction it is important to remain unemotional and ask your self;

What is their angle and motivation for getting me to do what they are asking me to do?

Without seeing the docs you are referring to I reckon you have answered your own question.

Call the settlement agent to confirm if you cant get a hold of your broker. 

Cheers. 

I do get more and more people assuming that I charge a fee and when they ask what they owe me, I tell them that this ones on me as the banks pay me commission out of their healthy profits.

It does make you wonder though?

duplicate post, apoligies. 

Common occurrence in Perth ATM with multiple offers on properties.

In saying that I went to a PD day with NAB and the speaker from RP Data provided the latest statistics that evidence that the market is showing signs of cooling off? 

– See more at: https://www.propertyinvesting.com/comment/reply/4349055/293226?quote=1#sthash.pbQ5tWpy.dpuf

As I'm sure you are aware Tom its a sellers market and with  listings below 9000 in Perth (12,000 is considered normal) it would be a big ask to get a 20% discount!

I was going to suggest what you concluded with in regards to a run down property you could renovate.

You could find houses that fit this description and approach direct to see if they are interested in selling either face to  face or a flyer in the letterbox.

If the property is uninhabited (not sure if there are any in Cragie?) you could call the council to see who owns it. If they are not forthcoming you could ask for the title particulars  and do a title search via Landgate and approach the owner that way.

http://www.landgate.wa.gov.au/corporate.nsf/web/Titles+and+Records

I have clients who purchased a development site with a rental on it via Property Wizards. 

If you make an offer have a "subject to building inspection" condition inserted.

Before you even make an offer ask for a copy of the last two years minutes of the body corporate AGM plus full financials. Get someone to help you read them if not confident in interpreting the figures. A decent broker should be able to assist you in this regard.  

This will reveal if any major repairs such as concrete cancer, roof replacement or a non existent sinking fund is evident and may shed light on the reason it has been on the market for an extended period. Also ask the the REA why it has been on the market for so long making sure you BS radar is turned up to FULL.