Hi all
Need a bit of feed back/ opinions on the following:Got an Action in 8 days, In intrested as I know the place has to be sold. It needs a bit of work nothing major a door or 2 landscaping, carpet. In the curent market I feel I know what its worth or what Im willing to pay for it. As far as it being a rental maybe not as the hassle and returns not in it. It may be my PPOR in the future.
Im only intrested if it goes cheap as im factoring in a fall in market price and oppertunity costs of my money. Do I get the building inspection done just incase? It may be a waist of money if it goes to high. Is it a risk to buy at auction with out the inspection. What elles should I do before i bid any tips. The agent knows Im intrested but Im not into being pressured on the day. Ive factored in all repare costs & stamp duty. Not sure if there is anything elles to cost in What about GST ???? or other taxes fees associated with actions. What about insurance from the date of the action till setellment????Any opinions appeciated, Is there still a few bargans out there or should i wait till the pressure gets to much and prices drop further. Im seeing place take longer and sell for less.
Cheers all
T…………………..Don't buy at auctions. The price isn't nearly what it needs to be to be worth it.
Better to take your time, do inspections, visit the place, and buy pre-auction.
Auctions are merely a way to get rid of places that won't sell using normal ways ( for a good reason ! ) and thus always have problems. You get 10% discount for this on the auction.. wow… if you make an offer 20% lower you would get it even cheaper without auction.Conclusion : Too many suckers and newbies at auctions that get themselves into trouble because they 'think' they get a bargain. Don't go there until you get REAL bargains, it's a waste of time and money.
Scamp
Mogagee in posetion will not take offer before Action. Yes Im with you in some cases. Ive seen people do some strange sh#t at actions, specialy morgagee. Im doing a lot of work before the action and setting my max. and i will stick to it. Unless I get it for 1/3 of CMV in not intrested. With todays Inflation figures higher than expected I think there will be a lot more to choose from in the next year.
Cheers
T…………………..
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