Forum Replies Created
90% on IP which settled 3 days ago.
Giddo, my moniker is the number plate i had on my old car. MRK = Mark and 25T = 2.5L Turbo (I had a nissan Skyline).
I’ve tried to read every post on negotiations on this forum (but now the forum’s search facility doesnt work for me).
From the stories the general idea looks to be to put the offer forward and wait for them to get back to you. This is because if you hear back from an agent you can be sure you’ve knocked off a few $ from the asking price.
I’ve made 3 offers on seperate places (a unit and 2 houses) through an agent and this has worked well for me. I think the reason it worked was because there was minimal interest in the properties.I also doubt that there will be a line of people queing to buy the property during eurofest. Its just that I got guzumped 2 weeks ago on a house and its not a nice feeling spending money on pest, building inspections etc. and not end up buying the place.
I will merge both Giddo’s and Linars plans together which i’l dub “a cunning plan”.
Post Eurofest my fiance and I will visit them during afternoon tea and take along a tea cake.
We will focus conversation on the garden by asking how to care for it, what plants they have, have they attempted a vegie patch and what vegies would thrive, etc.
I will make sure there isnt talk of pulling the house down or knocking walls down etc. because this house has sentimental value.Linar, do you think that they will contact me if a higher offer is put forward by a third party?
I’ve already told them i’m at my limit. Would I be taking a risk?News in on Friday arvo: I was approved to borrow $520k for a $650k maximum purchase. I now have more money to play with.
Thanks for your help,
MarkCamder, I loved both my Skylines but I lost a ton of money on them. Click on my WWW icon to see my old R33
It looks like GTR-PSP and I have the same goals; to purchase apreciating assets now and once we are financialy in a better position we can buy our toys back.
My desktop wallpaper on my work computer is a R34 Z-Tune. It helps me focus on why i’m working two jobs.What if you go to open houses (for lease) to judge how many people are interested in either houses or units, what properties they get excited about, how quickly they lease for, what type of people are looking, etc.
You could then find a pattern over a period of time.One of the agents I talked to when looking for a unit suggested 1 bedroom at least 50sqm, top floor, must have a balcony, garage. She said this area the 1 bedders get the better ROI but dont target the lower end of the market because these people who rent the cheapest unit in the market were causing problems because they really could not afford the rent and the agents had problems getting the money from them.
She also said the tenants didnt stay for long periods.
The problem she experienced with 2 bedders was that couples tenanted these and over the years as a property manager she noticed these didnt have many long term tenants because couples were frequently breaking up.I have no experience so maybe one of the forum’s more senior members can counter these opinions?
I agree with Shwing. Dont just look at the $250-260k range.
I got pre approval for $280k (for a PPOR) and had $44k saved (I sold my gtst and gtr).
I am also 27 years old, live with my parents, but reside in Sydney.I looked around for 6 months for a unit to buy (just doing research and seeing what I could afford in the suburbs around where I live and work). The only units I could afford were very old and small 2 bedders, or larger/newer 1 bedder.
My fiance and I went for a holiday a couple of months ago to Queensland and stayed in a very large unit overlooking the beach.
This is when it struck me. I would only be happy if I bought a unit as good as this one back in Sydney. I didnt sell my sports cars to purchase something I’m not excited about.After the holiday I started looking at cheap house/town houses around the $500k mark.
I knew I could get excited about one of these.I found a house/property which comprised of 2 garden units listed for $625k and returning $670pw in rent.
I spoke to my broker and he was surprised to learn that a lender would lend me $500k for this IP. My parents are willing to make up the rest so its a 80% LVR.
My offer on the property along with 2 other people. I missed out by 12hours.I’m now going after a house listed for $675k.
I’ve gone to another bank and maybe because I can get $500k from bank A, and because i’m serious about purchasing right now, they are seeing if they will lend me more.As backup (bank doesnt know this), my fiance starts work next year as a high school teachers which will make a loan > $500k easier to service.
With HSBC they can either go through their normal channels when doing the loan or they can use a solicitor. If they use the solicitor they require a stat dec from the purchases declaring that the property adhears to local laws (so i’m told by my conveyancer).
I would only know if i need a stat dec 3 weeks after i pay the deposit etc.
My mortgage broker had never heard of such thing before so he asked my conveyance and she explained it to him. He went back to HSBC and they told him she was correct.
To cut a long story shorty, the property sold close on 5:30pm today to someone else. I was ready to exchange contracts tommorow morning when the HSBC valuation came through.
Thanks for your reply Dr.X,
I will eventually demolish the place but will keep it as is for a couple of years (if i end up purchasing the place).
Myself or my convayencer are not going to sign a stat dec. I was asking if it was the normal thing with a HSBC loan as my mortgage broker has never heard of it. My convayencer tells me other lenders dont require a stat dec regarding the legality of the property.
My fiance is Thai and her mother is buying a lot of land over there and has been for a year or two.
I’m not sure if she is buying to make profits or if she buys to help her family and friends have a place to live.
She is purchasing near Laos.
If Magic32 decides to let his parents borrow the money, what do they tell the lender they need the money for?
I’m interested because it could be a possible solution for me. I too am in Sydney, eligible for the FHOG, but I have a full time job and pre approval from a bank.
redwing,
Is there a search feature on realestate.com.au where you can search the description for a word/words? eg. search for a street name, “original condition”, “pet friendly”?
PS. Do you work for realestate.com.au? When searching for prices the query isnt accurate because the search isnt flexible enough to handle different forms of price.
Thanks,
MarkOriginally posted by Salubrious:I can get you 11% paid quarterly no entry/exit fee’s, but there is always a catch!
We are all made from Stars
What is the catch?
foundation: I havent made my mind up yet, that is why i’m asking here on the forum if it is a risk worth taking for a better return that the banks.
I may even just accept the 6% and park it there for a year.
