Another Scammer…

Let’s see, is it possible to achieve the above without being a ‘scrudge’… hmmmm.

What about:
1. attend a morgagor in possession type sale where all the mortgagor is looking to do is recover their loan. Whether the property sells at its true market value is of no concern to them.
2. another variant of the above is when councils sell properties to recover the unpaid rates.
3. buying from a builder (or investor for that matter) that has gotten into financial trouble on a development (whether completed or not).
4. buying a business (that has real estate amongst its assets) for book value which is ($50k) less than the market value.
5. provide cash as capital/equity to someone who hasn’t done their math homework properly and can’t get to settlement on a purchase without some (perhaps expensive) OPM….. ie yours.

OK. so off the cuff, there are 5 legitimate ways to buy property at $50k less than its market value.

Why not make it (6) on the trot

6. In the Sydney market at least, the current state over the past couple of months is a softening of prices that many vendors are yet to realise (ie they are yet to hear what the market is telling them). You take almost any property listed for sale in Sydney and take $50k off the listed price and your offer is likely to be seriously considered or at least not laughed out the door (as it may have been 6 months ago).