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hi
I would organise a lender to do a stage development loan they will take the land as security
you do the sub division and then either sell offthe sites as you wish or start building and selling off as you go.
if you throw the land in and its not got any loan on it
the brokers in perth would’t have any problem securing that loan.
if I were you I would land bank until you got the drainage
in the perth market for me is not going west in any hurry and is going up
so if by gettng the drainage in your are going to get more on and you are not going to make more at this stage I would land bank.
My.002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]
currently looking for up front money at 15% p/a pm me if you wishhi all
part 2
I have deleted the money values at this stage and will fill them in at a later date they are in my copy put they don’t need to be up at this stage.
Chapter two
This whole project is not going to be short and as I said in chapter 1 this is an evolving project.
First to understand to solve a soup your need to get to the core of it and to do this you have to understand a few things.
1. the players in this game ( and I look at it as a game of chess but this is not a normal game of chess I have a three way chess set and play that with the boys but this is a multi player chess set and you have to move to what you think the others are going to do).
2. The boundaries of the project I.e. a start time that you are going to look at and were it is at that point in time.
3. the outstanding costs on the project
4. the vunerabities of the other player
5. as much history you can gain on your opponents
6. players out side the game that will influence the game(banks, creditors etc)
7. Any stumbling blocks that at this stage haven’t been move or can’t be moved at this stage for what ever reason.To answer the above question and for you to get an idea of this project this chapter will be on the history of the site and from there you can see who the players are and why it became a soap.
In or around 2003 two owner were approached by Mr. A(I am not going to put names to this project as it does not assist and they may not wish to be named) came to them and offered to option there properties and to put the da into Rockdale council.
The price offered was( ) and the option fee was ( ) (now the option fee was 10% but the didn’t do the contract that way fault 1(I will put in the faults that is my interpretation and as this is my story I think I can))
Mr. A went and paid for the drawing and da cost around the ( ) mark and submitted them to council (councils can be real problems and if you are a council officer reading this then you can see it from my side of the fence).
Council knocked it back.
The drawings were done 5 times each time they were knocked back.
The clock was ticking and by about a year it was decided to take the project to the land and environment court (problem 2 fault 2 if you have not got the money or have not shored up your lend to construct which Mr. A didn’t)
After about 350k project comes out of L&E and now has a da but Mr. A has no money on top of that the goals have moved we are now 2005 and a corrected market.
Mr. A has been paying to hold this option with Mr. B and Mr. C and they have given him 6 option renewals to get thru L& E and the cost of the renewals is a total of( ).Wait but there more
Mr. B and Mr. C both have lends on the sites with two banks and they have been holding the site also and they have paid in my calcs ( ) in holding cost and have ( ) from Mr. A so they are short by ( ). and the market is falling (banks don’t like this).
So Mr. A comes looking for finance and to get out of this deal so I put a syndicate together of investors to buy out the deal and run with it but Mr. A gets very greedy and what’s to large a share of the pie so the deal falls thru.
Mr. B starts to look for people to get him out of this deal not all just him.
Again it comes on my desk this is another 8 months latter.
But this time there is a couple of added players (in the form of two banks).
So to muddy the waters even more and to add heat.
I bring in a real estate to mediate the deal and his instructions are
That nobody knows who I am until I deposit the property.
I have all the history on the site and all the cost
by this stage Mr. A can’t get finance and Mr. B and Mr. C are on the ropes with a two bank beating the s—t out of them and about to liquidate.
I have a contract at ( ) I take the deposit out ( ) and take off 5% ( ) with an understanding to the real estate ( buyers agent if you wish ) that if they don’t accept that it comes down 5% per time they say no and they bring it to my desk.
Now we have a game.
We have Mr. A, Mr. B, and Mr. C (and two banks that want the site sold) playing one side and me, the agent, my bankers, on the other
We have the AAA in our hand and they have a site.
This is were it gets tricky you need to get the vendor working with you not against you and you need to find a player on the other team to assist you Mr. B was our player, he hated me swore down the phone and the names weren’t nice(the Italian used nicer words to the Frenchman) but he likes the agent so it good cop, bad cop I say this is what I want and I will tell the agent he goes back and changes a little with, I will accept this,
By this time it March 2006 three years latter from the start of this whole deal and Mr. B and Mr. C are at there wits end they want it sold so they agree to sell.
The next problem was the da as the da was held by the option holder this we need to get over but not let Mr B or mr C know that this is what we had in mind mr B an mr C brought in there own real estate mr D and he was the one that sold the site and set up the option for mr A this put a unknown quantity into the pot as he wanted to know who we were or nothing was going anywhere so we had stale mate if I told them who I was they would not have sold the site to me I had a hold deposit on the site with the buyer agent and had everything in place I had the lend organised so the next thing was the contracts.
Unless I told them who the buyers were (we had set up a new clean skin company and trust) not just the company.
So what do I do.
Simple let them stew for a while.Then go and see mr D tell mr D that we have been told that we were buying this property and if the reason that you won’t sell this property is because you don’t like the buyer then the two bank will be informed and the price goes to ( )and also that we reserve the right to take legal action from our barrister that if then we still don’t buy the site we will take an action for break of a commercial contract as we had put a commercial deposit on the site with a view to purchase and this was all set out in a letter from form a barrister.
This brought all back to the negotiating table and know with the letter it told them who was buying the site.
This did not go down well and lots of calls later the contracts are with us I have posted the well after the contracts have arrived for security of the site reasons and that I won’t have time to do this size of word doc when I have this project at full steam so I have done this one and part three prior to full steam running ( like the chef with I made this one earlier).
Time frames and players
Labour content about 9 months of work 50hrs per week roughly
9 companies
Four solicitor groups
3 banks
Two valuation companiesChapter three coming up
hi all
let me answer a couple of things one by one i think this is the best way
let start with this one first
Gross I hear that mantra here all the time.Two years ago it was the “property doubles every 7 years”
and usually it does especially in sydneyNow its ” if rates rise it gives the investor lots of opportunities”
and there are from where I sit again in sydneyAny chance some of our gurus have come up with either of these.
not a guru so not my areaI’m an investor and I am looking. Have my areas penciled in and doing research. BUT in the Sydney market I can’t see myself buying for maybe three to four years you wait that long and you will be the same as people that wished thay had bought 3 to 4 years ago. I will wait till I see some sign the market can move forward you wait that long and by the time you get the sign its to late you need to maker your choice not wait for signs. Oh yeah in the rest of Australia, well I am sure there are opportunities but think you can do better than Australian property for a while not sure what country you are looking at.
Oh yeah my favourite from the 90s was Carla Zamparti, who paid 3.6m for a property and sold it for 2.6m. about two years later.
Thats gotta hurt not sure maybe she need to write off 1 mil off her bottom line
and now the nextas for the general public being worried about interest rate rise for me thats good, as it
Gives me less competion.
this is correct buyer with jitters gives you chances to purchasesOrigionally posted by Grossrealisation
Gross i am concerned you posted this statement, because for a big time developer like you i would be most concerned with how the general public feel about interest rate rises and investing. If you are developing a project you need to be cautious and sensitave to how the market is investing as this will effect your bottom line profits
this statement is incorrect there is a very big difference about general public views and investing most of the general public don’t invest and beacuse there view is subdued does not mean that the general investing view is the same and for some one to think that is wrong a general person looking at investing in a ppor is not the same as a investor and if you think it is you need to go back and do a bit of home work they are very different mind sets.Your previous post of”welcome to my world” is not consistant to your post psychology IMHO – big builders and banks require superior market sales stratagies to be able to sell project investments and it all comes back to confidence in the market place.
again this also is wrong builder and bankers look at a development on three levels, cost ,risk and exit strategy non of these are market confidence market confidence has not nor would it be a consideration for the welcombe to my world the exit strategy for this project has nothing to do with market confidence and for me never has.It’s ok to pick up a bargin especially from some one who is hurting, however as experienced investors know all too well, grossrealisation is achieved when we sell, thats what profits are all about.
again sorry to say you are wrong againthe most amount of profit is not when you sell max profit is when you hold refinance and keep refinancing using the growth of the item thois we can argue and it depends which side of the fence you are on but for me if you late out sell cost legals and cost to refinance give you a lot more profit untaxed and in your hand so for me you are wrong on this point.I believe it’s the same in the stock market, if a stock falls out of favor or the market changes then its value decreases, it is just that simple. You can argue that if you buy at the bottom of the market you will reap the rewards when the market comes back … the two problems there are 1. Can you hold on that long if you are a small to medium investor and 2. what are your holding costs to hold on for that period of time.not sure your rational with this part
Its all well and good to get people excited with profits but it is important to make people aware of the down sides when some thing goes wrong – which they can this depends with your mind set of rules and as yet I can’t say as I haven’t been wrong I have adjusted but not wrong.
GMH has some sound opinions which i must agree with, i love property I hope you invest moreand now more than the last few years requires better research to pick the winners not really you need to use your mindset rules and if they work then you will be successfull.
D
Told you so … where are the experts now?Read the articles lately (today) all the experts that said property was about to bounce back are hiding under ground getting ready to put another twist on their previous statements.
OK for all those people that say rents will increase lets have your vote have a look at the sydney its running at about 15% increase, because i think that the rental market could get worse as it did in 91/94 … lets see shall we.try telling that to the real estates in sydney
mu .002
here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi
yes I have and do as a rule.
what I do is organise a real estate that is in the area and get them to work as a buyers agent.
it works for me as follows I ask them to do a deal on a property that I have already look at and want them to negotiate on my behalf once this has been done i organise that I only want to deal with one real estate and the vendor must cancel there agent and only deal with mine and must then sign an agency agreement with my agent( I then don’t pay the commission the vendor does)( my agent charges 1% commision instead of 1.8% so the vendor is happy the agent is happy and I pay nothing)( and for my agent its 1% they were not going to get as a rule so they want the deal to go thru).
I tell my agent what I want to pay and and a premium to get the price down lower.
once a price has been agreed then they sign there agreement at the value we have agreed.
and is very successfull.
the best agent for me is the one in the game and the people in thi game are real estate and at the end of the day a real estates job is to sell real estate his, yours or there’s
any real estate
so they are the best people toi have as buyers agents and no its not a conflict of interest as you are asking them to find this product at this value.
welcombe to my world was negotiated with a real estate as the buyers agent.
I use them as a matter of coarse.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi steve
a very interesting position that we are in at the moment.
and the coin is in the air
to fix or keep the loans as flexible rates as they are know.
I have a couple of problems and they haven’t been answered at the moment.
I think that there will be a 1/2% movement up but when that will happen not sure.
currently we have a flat market but a 15% increase in rents in the last 6 months and the rents are still rising as the stock of units is mopped up.
so it is a good enviroment to instead of fixing, using the flexability of the loan to gain product and then fix.
With the increase or possible increase of rates
this gets people that are over committed a bit more jumpy and so you can strike a good deal.
fixing rate is good but you can’t move cash or equity so for me
its like jumping off a ship
you wait to the last minute and that time for me has not come as yet.
I think 1/2% max for me and it may even be 3/4 up and 1/4 back to show they are doing something.(cynical me)
as you can see from welcombe to my world I have not stopped spending.
The news at the weekend that sydney prices rose this month is not a shock either
when rents meet repayments or close to them people will buy because they have to, not because they want to.
the stock in the inner suburbs of sydney is a bit of a joke
as one real estate in leichhart has increased his rent roll 15% across the board three weeks ago and it has done nothing to stop his demand.
my .002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
just a little side line I have organised with the assistance of jaffasoft to have a section that will have zipped mp3 files for people interested in this project.
I will put up a word doc part 2 here so people can read it or they can down load the zip and listen if thats better
This site will be doing all the pre sales also you do have to register and there is no cost
unfortunately you can’t store here the first zipped file is 7.5 meg. and the second is 1 meg.
this is not going to change organising part 2 but with these soups they have more turns then a snake
And for the last 4 weeks we have been organising the vendors with the assistance of 2 solicitors and 1 barrister very interesting and that will be about part 4.thanks cata
you can use it if you wish.
I don’t think that interest rates are a turn off to investing.
you can hold back and wait if you wish but there are investing opportunities in any market and interest rates is a very small issue its something that needs to be factured in.
as for the general public being worried about interest rate rise for me thats good, as it
Gives me less competion.
It gives me vendors that are also worried and are in more of a mood to negotiate.
my 0.0002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
I read with interest this post
There are changes with in all organisations and I would not be suprised if people wish to move from them and if as steve says its amicable then thats a good thing.
I don’t think that you can infer that is got anything to do with market forces
I know that clones you don’t think this is a good time to invest
well for me it is and I don’t have people leaving my ship they are joining it if anything.
as for steve and dave the reasons they parted for me is there business
and noone elses
as they are a business there are somethings that stay within a business
and I for one don’t think it would advance me one step to know what those reasons were.
I wish both of them luck in there endevours and even thou we may have our difference of opinion on alot of issues, I think that the most that is required on a parting of the ways within any organisation is simply
we have parted end of story for me.
my .002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi foxyac
I won’t pass.
you can post here or email me which ever you like you will need to give the following information and from that I can tell you if the project has legs or not and if it does then some others here may wish to pm you.
the information will be for information only as we don’t want to wander down the syndication lane put I would put it more as grossrealisation can you check these figures for me and by all means i will check and tell you yes or no if then i wish to get involve I will tell you here and then others ca check the details and if they wish also they can to.
as you are aware you arn’t allowed to advertise syndication and thats not what this question is so for that reason I think the topic may be wrong but leave it as it is and post
what it is
rough area and state
build cost
build time frame
builder if any
projected profit
sales for the area
hurt money for the lend.
hope this helpshere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
well done toni you have been listening and yes I would do the same.
I would throw the lot into the ppor and get a split loan so you can redraw as you need.
then I would do double investing first set up a structure ( accountant required) then find a posi income shares, LPT or comm.
if a property
a comm purchase and then do a 65% refinance so you got alot of your cash back.
then go for a resi neg in a high growth area and make sure that the posi and neg cancel each other out so the investment is neutral.
and then leave to grow and each 4 years refinance with the growth in the resi and make sure that the posi has a structure with in it to grow.
so if a comm 6% cpi increase in rent.
and re invest.
if your risk profile is better have a look at my post if I gave you 1million dollars for some high return investing put I would not recommend those unless you understand investing.250k is a relatively large amount of money and as I said the accountant is the first step the second is to understand your risk profil
in the short term I would throw it off the ppor but into a split loan so you can get access to it.
and try as toni has said to use lenders money to make money its alot cheaper and alot more profitable.
and good to hear from you again tonihere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
well done toni you have been listening and yes I would do the same.
I would throw the lot into the ppor and get a split loan so you can redraw as you need.
then I would do double investing first set up a structure ( accountant required) then find a posi income shares, LPT or comm.
if a property
a comm purchase and then do a 65% refinance so you got alot of your cash back.
then go for a resi neg in a high growth area and make sure that the posi and neg cancel each other out so the investment is neutral.
and then leave to grow and each 4 years refinance with the growth in the resi and make sure that the posi has a structure with in it to grow.
so if a comm 6% cpi increase in rent.
and re invest.
if your risk profile is better have a look at my post if I gave you 1million dollars for some high return investing put I would not recommend those unless you understand investing.250k is a relatively large amount of money and as I said the accountant is the first step the second is to understand your risk profil
in the short term I would throw it off the ppor but into a split loan so you can get access to it.
and try as toni has said to use lenders money to make money its alot cheaper and alot more profitable.
and good to hear from you again tonihere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi macfadcg
what are you investing in in vanuatu.
couple of things you need to know
1. the land is lease hold so you are buying a lease
the lease hold amount varies and so do the conditions.
2 unlike here you can buy into two types of business structures local company and that is a company that does business with the local so if you are buying a comm or resi property then it will be a local company( you can by as a individual if you wish)
3. the other way is an international company and that is a trading company that trades outside of vanuatu but has its office or address in vanuatu.
buying property is relatively easy and you do need to do a few things first.
A open an account there to do that you need to either setup a company there or go thru vipa
you will find them on the vanuatu goverment web site to check that you are legit and not a money launderer(they don’t like them)
next you will need an account and an accountant you will find alot there( they have more per capita there any were else inc sydney.
once this is all done then you can invest.
vanuatu is a very interesting place to invest.
if once you have done your due diligences and you wish to invest there pm me
I have contacts with bdo,moyes rowlands and pkf , first national, iririki group, melanasia and a couple of ministers.
I can answer any question you may have with regards to this market place,
the only one that I will reserve to answer is would you invest there and do you invest there.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
thanks yes he was.
for me skype is good I would use it with msn s you can use webcam but it was very clear.
for the novis out there i will tell you the differences.
msn is good for one on one live type chat with webcam and is very handy and there is a 20 meg pull drop and post. skype allows one on one and 4 talk like a mobil so you can talk for free and if you have another compuer on your home network which I do you can msn webcam and chat at the same time all for free to england or perth whoever has skype setup.
we will be running soon skype classes on investing via jaffasoft.
that not investing in skype but investing using the skype network as we will have a person that will answer your questionshere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
investing in china is not a specialist thing to do what it is
is to understand the market
the market that is aking off and will take off is the comm, shoping and hotel area inc serviced appartments and using unlisted property trust and term deposits here are the security that the money stays here but you equity lend on a product in china.
as for the chinese they can invest here and the money stays here the lease and rental is outside of china and there is no problem from a currency point of view.
the goverment is cooling the cities but not the out lying areas and these are where the real money is made.
hope you all wellhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi G3ipd
first off this is not advice you need to ask a solicitor or buyers agent if you wish.
yes its does matter which state you buy in and buying in wa is very different to buying in nsw.couple of things you need to check.
1. the company that you are buy in
is it a victorian company or a nsw company they in themselves are very different and have there own little quirks.
2. the company and trust must be set up before you put any holding deposit on the property in some states
as the transaction is done when the deposit is placed, in nsw stamp duty is paid 3 months after the deposit is placed and from that point the purchaser is the person or entity on the contract. and if that changes then the problem occurs so it is better to have the correct entity on the contract when the deposit is placed and the contract starts.
3.if you had in your senario used a victorian company and it was a clean skin new company you could sell the shares in the company to the new individual or in your case nominee.
with vic companies unlike nsw companies you can change directors with minimal cost.
you need to do this prior to exchange or the company becomes an asset rich company and that in it self causes a problem that I won’t go into in this post.
by buying in this structure because the entity does not change the directors do from my understanding and I have not had any state that has had a problem as yet.
this structure can be used in all states but again I do not buy anything or place a deposit on anything without our legals telling me its ok to do so.
This structure is the base structure for all my purchases.
this information is strictly as information only
as if you get the set up wrong fom the start from my understanding the stamp duty gov dep does not have a very good retraction of cost proceedure so you are risking in some cases a very large amount of money and if for me thats the case I would take all information that is possible but on this one before putting $1.00 on a property( and $1.00 is the smallest amount you can put on a property I would get some sort of legal advice from a solicitor or buyers agent( in some states).
my .002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi
investing in china is not as easy as investing in a western country nor is the system the same.
there are alot of other issues that need to be addressed before you invest not only in china but in alot of the asian region.
the main issues are.
security of your investment
the ease at which you can sell and take your money out of the country
rules to take it out.
return on investment and getting that cash out.
what other cost over and above the paper costs you need to pay to hold and keep your investment.
I am pushing into china put am using a chinese company as a jv so it is not a market that I would invest direct without a jv chinese company.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
I would own a beach property in vanuatu, a house in sydney,a house in manchester england, and a dirty great big motor home (on of those 41 seater coaches that are turned into a motorhome with the bottom removed and a ramp to house a lotus exige cup 240 to go up and down those winding coast roads).This both a dream and on its way to a reality.
The properties are the most important part and most is complete.
we (well I am) going to be part of that flowing grey power that floats the world and for me this is the way to go by have a property in different continents gives you the flexability to move from one country to another and very slowly as you absorb there culture.
I wanted the bus 4 x 4 but hard to find at the right price but in no hurry.
I like the question and as few people say its ok to invest but have an aim for what you are investing for I have a very clear aim and all my investing is the give a financial freedom ( which we are all doing) across a couple of continents that gives me less risk of currency adjustments as I use there money in there currency in there market.
Aust here, euro in england,rmb or hong kong dollar from those investments.
hope it come to be
time will tellhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Hi Craigsed
The valuation was done before I purchased
As I ask for access to the loan docs that are on the properties that I look at and assign any valuation that has been done.
The valuation was done for anz and yes it is done on rental and the food association of nsw had give the valuer what they were paying.
And the valuer came out with a value for the property
weather you can say that value was correct or not is of no worry to me as I put a value of a property that I consider it to be and run on that.
wealth4life not sure about hypo’s as I don’t do them,
I do alot of evaluation prior to purchase and check projects to see if they come within my guide lines and come within my profit margins and if they do then I give it a go to try to purchase,
Some come off some don’t if thats a hypo’s then yes we do hypo’s
are these deals real yes they are.
I use a brand new company/trust structure in each of the projects that I do.
You do require to be within my group of investors to get involved and you are right as for the roller coaster as you could be asked to if you wish to invest in a duplex (21% profit margin)one day and a 21mil 5 star hotel (102% return over 2 years) the next (both are closed).
some are long term projects (the hotel) and in areas that most people would think or feel safe investing in (china the hotel).
I don’t nor would I ask people to invest in anything I tell people what I am looking at investing in and leave people to make up there own mind.
If I was give the chance to go a roller coaster ride and told I can hop off any time I wanted and this was a investing ride with rene, harry trig or even one of the share trader (not into shares that much) roller coaster drivers then I would buy that ticket.
Thats not for everyone as we all have our own risk management.
and last but not least as for motivational (wealth4life).
I am not a motivator nor a book seller and this is post is to give people a different type of investment and how they work
If they are not motivational thats ok you may well know alot more then me and I look forward once this project has done its coarse that I maybe motivated by a post similar from wealth4life with welcombe to wealth4life world
and explain how one of your deals are put toghter and how they can be done.
I am here to learnHi craigsed
The dulwich hill project is different to this one (and was an example that they are around)but I will answer your questions.
1. The 1 mil was a valuation done by a valuaer for the owners at the time as I always ask that any valuations and loans are disclosed from the start of my negotiations and assigned if and when I buy.
2.I could have got alot higher rent put I set the rent low and then cpi 6% each year or cpi which ever is the higher and the tennant looks after the building
and does all repairs they sign a 5 x 5 lease
I make sure they are happy
They are looking at the end another 5 x 5 at this stage.
Each 3 years I have an increase in rental return at 38k
3 years latter its 45.25k I then take out a loan to the value of this money and at 8% its 565k and the tennant pays the loan requirements so I have 165k cash flow that is put back into a split loan and sits there until I need it as short term money for caveat lending.
If then 3 years later I have 53.9k and refinance again the lend is 673 again the tennant pays loan repayments and I have another 110k into the split loan and as the loan payments is equal to the rent the property is neutral.
so after 6 years the loan still is not at the 1 mil valuation figure ( nor at 70% comm lend so lower interest rate) and the comm real value has been increasing .
by the time the tennant comes to the end of there current lease the repayments are at 68k which covers a 850k loan at 8% the lenders love you as you have been paying the loan off each month no vacancies and the tennant wants to carry on being the tennant so signs up for another 5 x 5 on the same terms.
motto if you get a bargain take it and find a good tennant that will be there for the long haul
My tennant is listed on the second share board and is a national company that wants to stay in this area.
and yes 38k is low on a 1mil val but not low on what I put in
as for this deal I don’t put anything in these are 100% lends on comm and cash flow out
not sure where you get those and you can draw out each 3 years.
If you think thats a bad deal maybe my calculator is faulty and I need to rethink my approach to business.
My view is pay as little as possible into a deal and if possible pay nothing and take money out.
This post is for education and I am open to learning just like everyone else.hi Wake
there is no easy answer to your problem.
What I do is get everything in writing and if you have done a deal send the real estate and the vendor a copy of what you see as the deal via email.
then follow up with them sending it back so you have a copy.
then deal done.
you then send the deal to your solicitor and he talks to there.
in that email is all the main part of the deal.
price.
time frame
access
If they can stay on after you own it
etc.
get as much of what you want in the deal in that email and send to the real estate,vendor not the solicitors as they don’t need to get involved at this stage.
once the deal is done thats it bar the legals doing there job.
yes you do still get legal stuff ups and they are not something new but you and the vendor are on the same footing and any problem is alot easier to get over.
oh and Housemender by nature most legals are very conservative in there aproach to deals and yes my legals do a very good job and its not taking anything from michael my legals ability to do his job but he usually gets involved at the end not the start I am sure he would like to be at the front but thats the way I do it and it does go relatively smoothly this way for me.
my .002here to help
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