Hi ..
My hubbie and I are really in a 1 acre block northern perth ..the developer will not take any less than a $10k deposit ..All land sales are going through a real estate agent .,but we are very nervous about this large amount as titles are not due till mar08..
any advice would be helpful ..
shirlsme again ..Is there any body out there ???
) anyhow ..is this the norm looking for a large deposit ,.Im in Perth about 4 mths now and know nothing about buying property here ..Any help advice or just a comment to say "Hi" at this stage would be good ..Tks Shirls
Hi Shirls,
Yes this is a large deposit. My wife and I did a similar thing towards the end of 2005. The deposit was smaller 5000 but the block didn't settle until may this year.
The value of the block went through the roof in the mean time. so we made all of the capital gain without paying anything except the 5000 initial deposit.
10,000 is still much less than most developers ask for with the city apartments.
Still, it depends on what you are wanting to do? If you are wanting to hold onto the block and build it gives you time to arrange the house etc without paying interest on the loan. Thus plans etc can be ready to go to council as soon as the block settles. So long as you do not have the trouble I have had with my broker (separate post).
But if you are confident the price you are paying is acceptable and are happy to wait for the release of the block which will probably be delayed for one reason or another, then there is no reason not to go for it. after all the deposit is only part of the cost of the block anyway.Hope this helps,
Regards,
MarkPS Just out of interest, where are the blocks and how much are they?
tks a million for that ..the block we are looking at is in Muchea just less than 20 mins drive from Joondalup ..Yes very outback ,but what we were used to back in Ireland ..not everyones cup of tea ..prices started from $190,000 up to $400,000 depending on size which start at 1 acre upwards ..the time frame suits us fine ..was just worried about the large amount of money ,,but I guess its the way its done here ..some real estate agents in tapping /carramar areas will take 2k for deposit ..so when we were told 10k gave us a shock ..we are putting the deposit down tomorrow afternoon ..hopefully all will be fine !!! fingers & toes crossed..
tks again
shirlsHi Shirls,
My wife and I near Muchea ATM.
Muchaea is a nice spot and not that far from Midland either.
It has been in the news a while back that a satellite city id planned for Two Rocks.
Good luck with your block.
Regards,
Mark.
) anyhow ..is this the norm looking for a large deposit ,.Im in Perth about 4 mths now and know nothing about buying property here ..Any help advice or just a comment to say "Hi" at this stage would be good ..
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