Hi Guys & Girls,
Quick question, I'm renting a house in a good area on a great block of land however the house is in need of some repairs and the last DIY owner has made a mess with some dodgie work.
I'm in the market to buy my first home and I want to put an offer on the one I'm renting – now my plan is to state extactly what is wrong with house and put in an offer. This however brings up a problem of the landlord fixing everything and jacking up the rent or knocking the house down and building a set of units on it. (the block has approval for subdivision).Now my other option is to buy else where however the properties like the one I'm living in and in the suburb I'm in are out of my price range.
What to do???
Cheers
TomIf you list what is wrong with the property then put in the offer you risk offending the vendor. Why not just put in your offer and see how it goes. If it get's knocked back go with plan B, buy elsewhere!!!!
lol well my offer wasn't going to be that low to offend the vendor! I was going to be realistic and I'm hoping he would accept to make a quick buck which inturn he could spend else where. I'm not exactly sure on how much the house was sold for before I moved into it but I know what it was advertised for.
I couldn't prepare an offer form in time so I advised the real estate agent that I'm interested in purchasing the property and also advised that I have my deposit & pre-approval arranged (I didn't disclose any amounts) only an EOI.
However I hope the landlord doesn't take it the wrong way and knocks down the house after seeing the problems listed with it because that would mean I would have less then a month to purchase or move else where and pay more rent.During the time I was waiting for the REA to show up I browsed a website which I've noticed isn't to popular here re.com.au and I actually found some postive cash flow properties with potential high capital growth. Problem is that they are in other states and in order to purchase (& Rent out) any of the properties it would mean having to do it without seeing them in person. – This scares me a little as I would like to know what I'm buying and I'll be loosing my first home owners grant (long term I reakon its worth loosing it over these properties)
Anyhow … I just bought Steve's new book so I'm going to have a read and see if I can find some hints & tips in there
Cheers
Tom<br /:)” title=”>:)” class=”bbcode_smiley” />Hi Tom,
What I would do is research the area for prices and do you your sums before putting a written offer forward tell him you have come to this figure based on current sales and the quotes that you have obtained to get a few things up to par. In the written quote as per Steve's book (and it works) state this offer is good for 24 hours and a time limit stated. Also pin the deposit to the offer and then wait say nothing more his turn to think, and look at the cheques that you have written
Good luck
:)” title=”>:)” class=”bbcode_smiley” />
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