Hi there,
I’m looking for reasonable sized blocks of land at present with a view to purchasing and then building 2-3 townhouses on them in the future. The market is quite tight for this at the moment in Sydney, so I plan to meet with a few professional buyers agents to see if they can uncover any opportunities from their network etc.
Has anyone used a professional buyers agent before and would you recommend them? Or perhaps a specific Buyers agent?
Keen to hear anybodies experiences and thoughts….
I haven’t used a buyer’s agent before, and the way I invest I doubt I will ever need to. Your situation is unique as you are after a very specific type of property so a buyer’s agent might be of assistance to you.
Make sure you understand all of their fees before you sign up with them. Usually (from my understanding) there is an upfront fee, and then when you sign on your property you have to pay a percentage of the purchase price (around 2%). Your initial deposit is taken off this 2%. But read through their fees and make sure you understand them.
Buying a large block of land in Sydney will cost you a lot of money. The more you pay, the more you have to pay your buyer’s agent. If you buy a property worth $1,000,000 then your 2% will be $20,000 ON TOP OF the purchase price. So be aware of that.
Ryan McLean | On Property
http://onproperty.com.au
Email MeMany thanks for your insights Ryan. It's much appreciated.
Has anyone else had experiances in this area??
You must be logged in to reply to this topic. If you don't have an account, you can register here.
