I am looking at buying my first house in the next few weeks. It is a display home in the Hunter Valley that is being used as the site office for the estate. It is 22.7 squares -4 bedroom with rumpus and office, ensuite and large colourbond double garage with large backyard. The purchase price is $410k with the company wanting to rent it back from me at $410 per week and when they finish with it next July, putting the house back to new condition – ie replastering when they remove display cases etc. How do I check if this price is about right for the market or if I am being ripped off. I also would appreciate some info on websites or knowledge on what I should be checking for on contracts and before we go ahead with the purchase what problems we should be looking for with the house (if any). Thanks
Hi
Display homes in general do sell for a slightly higher price and I am advised that this is because they rent back normally at a great rent. Look at what the other properties in that development are selling for. This may help your decesion.
Sharlene
[email protected]Get your broker to provide you with a copy of the valuation report (Many lenders will allow this and brokers can instruct the valuation upfront with a couple of institutions) and see for yourself. This will cost you nothing.
Richard Taylor | Australia's leading private lender
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