Any thoughts, pitfalls to look out for & experience buying houses from the government (ex Housing Trust)?
I have got several agents notifying my of ex-housing trust homes in the city & country homes – and some look like +ve cashflow ones.
Thsy are vacant. The govt will ONLY sell them by auction with 10% down @ fall of hammer, and settlement in 30 days. They appear to be vacant and need painting and/or floor coverings (carpet, or polish the floorboards).
Would you go for them or pass because of the housing commission area they are most likely to be in?
Thnaks,
David Paxton
“You Only Live Twice”[
]Hi 007
Do some homework –
Check out the rental needs of the area :
* is there a demand?
* what are the rentals p.w.?
* why are they being sold?
* what work needs to be done to them?
* are any subject to HIA orders?
* what are employment prospects in the area – rising, steady or declining?
SA is having a few sales of ex-housing trust in the upcoming weeks!
Good luck
[8D]Another one to add to Spiders list…check out the neighbours. This will generally give you a good idea on the area that you are buying into…
We build Government Housing and what generally happens if a block or many houses are for sale in one area is that the tenants have been relocated to new premises, generally not too far away but often far enough for a whole new group of families to move into the ex govt dwellings. We have found that they are usually cleaned up and the area can become quite a nice little area for low income earners who are desperate for their own home. Try and find out where the tenants have been moved to.
>>Try and find out where the tenants have been moved to.<<
What is your reason for that Judith ?
Pisces133
They often come back to visit the neighbours[
] or haunt old stomping grounds
]Hi 007
] or haunt old stomping groundsYou must be logged in to reply to this topic. If you don't have an account, you can register here.
