David Thiu wrote:

Hi Luke,
Blessing from God indeed :) totally !

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure:totally

Stupid question but when people say cash unconditional offer, does it literally mean ‘Cold Hard Cash’ or can you actually borrow from the bank to make this offer? you could used borrowed funds as long as you don’t have any problems getting it approved and are ready to go with it within time frmaes…
basically it means the seller wants it sold without any out clauses for the buyer so they are guaranteed a sale … and they wont be stuffed around any more

Also curious about how the renovation was executed… Did you just watch DIY videos online and do Google searches on how to fix various problems around the house, or did you simply look in the yellow pages to find contractors to hire?…. how – I just started getting handymen and tradesmen in to my houses and watched them /helped them … so now about 12 years later I am doing them on my own and I use airtasker for lots of different guys.This keeps them honest
The pictures from the real estate website look amazing, but I’d love to see the contrast from before and after if you don’t mind sharing :) see below

Cheers,
David

Hey David

If you click on the news.com story then click on the property address it brings up an old listing for the property when it was first bought.
There are a few pics in there but of course it looked a lot worse in real life .

http://www.news.com.au/finance/real-estate/selling/this-weeks-bargain-buy-of-the-week-is-in-riverview/news-story/fb9e929a7ee7afa64a733e78e48d0a54

hope this helps !

David Thiu wrote:

Hi Luke,
That’s incredible! Thanks for sharing!
If you don’t mind me asking… How did you go about finding such a bargain property?
Regards,
David

hi David,
no problems at all!
That one was a real blessing from God actually .

How much listed -$200K
How did I find it-
For this 1 I just kept an eye on the net and originally I had it for a client contracted at $195K(I am a buyers agent)and we got a building and pest report and the buyer freaked out.
This is due to- often the builders leave so many things with doubt in the buyers minds .
This is often because of all the sueing going on these days its sad but a reality that people(especially builders & pest guys) just need to cover themselves .
-So I kept the agent informed all the while with all the delays with 2nd inspections etc and built relationship with her .
-Then after a lot of mucking around with buyer they pulled out on B&P clause (and that was the 2nd buyer who had done this).
So by this stage sellers just need to get out and get scared that every buyer will keep mucking around so I said I will do a cash unconditional offer on it (no finance clauses or any options to pull out of contract)at $145K she came back at $150k I said fair enough that’s not a bad buy so did it .

Also it was a housing commission style ownership so the owners weren’t set on emotionally fixing it up to get the max they could get for it .This often helps

Hey Buyersagent !

Not sure man but dont think it would be a drama

kind regards
luke