Hi Simon,

What would that timeframe be 6 or 12 months?

Thanks for the reply

Luke

Thanks allot for that guys.

Dr x, I don’t understand either.

I suppose I will have to convince the bank to let me role the agent’s fee into the loan. Actually they said that I could role it into the loan as long as I increase the contract price of the house by the amount of the agent’s fee. For example sale price of the house say $100,000 and the agents fee $6,000 bringing the contract sale price to $106,000.
Apparently they can only lend me the amount that is on the contract. Which leaves me with a dilemma because if the contract price of the house is increased to cover the agents fees what will stop the vendor trying to get more cash out of me, as I would have only given the vendor $100,000?

Thanks

Hi Steve,

Thanks for the reply mate.

The information that we gather are from local council websites, mainly economic, demographic statistics as well as population trends. The unfortunate thing with this info is that it is old (from the last census). We also get rental and sales data form the DOH.

With regard to Rental vacancies / statistics I presume you mean the fewer in the shop window the better. I have found this info the hardest to get because estate agents clearly have there own agenda when parting with this information.

In terms of how we use this information, because we are looking for our first property, we really don’t know what we are doing! We have tried to be methodical with the info that we have gathered but as I mentioned earlier the sources they have discrepancies. So as you can see it’s a catch 22 there are ether discrepancies or it is out of date. We certainly feel we are in the grasps of analysis-paralysis.

I said to my wife this morning that we need to devise a simple and quick tool in analyzing this information, any suggestions? Is that the kind of thing you cover in your Buyer Beware book?

Thanks allot for your reply.
Luke and Jodie