You should always get a building report, for your own peace of mind, you can also use it in negotiations to reduce the price.

But if the report is bad, you wouldn’t want to buy it anyway, at any price and just becaue the report is bad, doesn’t mean the sellers are going to be any more negotiable, they still think it’s worth their price, in it’s present condition.
If the report comes out ok, and the returns are ok, and you can afford it, do it.

YES
But when you have paid their fee and found out all the things wrong with the place, what difference will it make to you, and more importantly, what difference will it make to the sellers.

I may have read things wrong, but $10,000 a square equates to around $1,000 a metre 2 ( square metre )
It can’t be $10,000 a squrae metre.
That would make each unit cost over a million dollars.

What rent do you expect to get, less rates,insurance + maintenance.

That should help you decide how much higher to go

Redhaven
You should get about 350 house allotments out of your 100 acres, at a cost of approx 25 to 30,000 to develop each block.
Do it in stages, a surveyer will know how many.

Anyhoo 350 blocks with a profit of around 40,000 = 14 million dollars.

If you let a chance like that slip through your fingers, I for one will never speak to you again.

Timtam, I’m slightly dislexic and I probably can’t spell iether, but every time I see you name I inadvertantly read
TIT MAN
Sorry But I couldn’t hold it in any longer

I’m 100 km from Cairns and our markets are completely different, let alone Mt Isa which is in western QLD, 1000 or more km away from here.

Had the same problem, valuer was $ 400 G below the comparable properties presented to him, it made no difference, the bank went with his, until I got nasty, and now we are all friends again.

Tell the bank you will leave, and what they are going to miss out on if you do.

Worked for me.

Super Ted,
What the #@*% is an ICQ

Wizard has just sold out to G E international.

I don’t know if that’s good or bad, but GE are a’holes.