Hi everyone
we are very keen on a beachfront property, not advertised in paper as yet, though “for sale” sign is at front of property.I asked RE agent if we could view property today and we would be placing offer. He stated that he would not allow anyone to view home until next week as minor repairs required, apparently the owner is good friend.
We are looking at “subject to finance”. Spoke to mortgage broker and we can finance this property, however, I know RE agent is after cash offers and this is possibly why he is holding out.
What next, need some help. If we manage to pull this off it will be the best investment to date. Any ideas????
PS
we are prepared to pay full price…IS there anything stopping you from walking up to the front door and knocking?
“Hi Im interested in buying your property”
Just a thought….Perhaps owner is trying to value add and doesn’t want propspective buyers to see his mess?
Regards Thomas
How about make your offer ;
1. Unconditional
2. Full asking price
3. CashAt the end of the day, that’s what all Sellers are holding out for.
It sounds as if you are in an extremely weak negotiating position due to your keenness for the property. However, if the dirt warrants it, it can still be a bargain.
Thanks for replies.
My husband is going to see the owner of property this morning. Will let you know what happens.Can you up your cerdit line so you know you have cash available?
Can I please please please get you to check something out first before you purchase this property! Go to the local Council and check that the property is not affected by any tidal zones etc. The council should have a coastal engineer of sorts. Ill give you an example that Ive come across: (..and no this is not an example from the Council I currently work at – however this is a real example)
There is a council who has undertaken a coastal study of their assets along the coastline of their Council Area. The study shows that the future water level goes through the loungerooms of well over 20 homes just along one stretch of beachfront. These properties have a hell of a lot of problems with undertaking any developments/renovations to them (because the Council is encouraging residents to build well away from the coastline – and the Council’s cant afford to purchase these multi million dollar properties). you may even have to waive your right to any appeal to the Council for any passed DAs which in the future may be washed away in a storm event or coastal erosion. I know its not entirely legal, but you may still come across this.
The residents also find it pretty much impossible to insure the property – what insurance company would be silly enough to insure a structure in a fluvial environment? So check with your insurance companies too.
Please remember that a coastal environment is not static. Have a talk to some of the older looking locals on the beach and they will tell you how the dunes used to be another 40feet out to sea – it puts it into perspective, and you dont think of this when you take a snapshot view of a property.
Yes there is sea level rising. yes there is coastal erosion, either natural or enhanced by human settlement, and yes there is and will be severe storm events including storm surges and king tides. So please do your homework!
I know the beach houses are beautiful homes and a bit of an aussie dream, but if it were me, Id be buying on the other side of the road from a beach, or up on a good solid cliff face away from the sand dunes.
I dont mean to scare you off, but Im just raising these issues with you – not everyone thinks of them. This is just my experience as an Environmental Planner in local government. If I can help you with anything along these lines, please dont hesitate to send me a PM.
Lou
If there is a For Sale sign up, then the property is on the market. If the REA obstructs, you are well within your rights to go direct to the owner.
Tread gently of course, in case the owner wants the REA to delay for some legit reason. But, if the sign is up, no-one should object to your response as a potential buyer.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
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I hear what you are saying, however this is not the norm.
As stated the RE agent is family friend (20 years), I am prepared to tread very lightly. We presently have the RE on our side and this may just get us over the line.The owner has a couple of conditions which we can meet and I am very hopeful.
Appreciate all your replies.
Cheers, MSo come on Marisa – what happened?!? Any news?
Best of luck!
Adam B-C
Don’t let life get in the way of living.
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