Help!!!!!

Viewing 8 posts - 1 through 8 (of 8 total)

jempire
Participant
@jempire
Join Date: 2001
Post Count: 19
November 4, 2015 - 7:58 pm
I have an opportunity to purchase a house on an 850sm block and an adjoining 450sm vacant land. I don’t want to pay for both titles now but want to secure a price for both and settle and take possession on the house first in 30days and the vacant land 6mths later.
Does anyone have any ideas on the best way to structure the offer for this to occur?
Your ideas are greatly appreciated. Thanks in advance.
- This topic was modified 9 years, 1 month ago by jempire. Reason: Wordsmithing
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
November 5, 2015 - 12:03 pm
Call Option or extended settlement.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.
Richard Taylor | Australia's leading private lender
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
November 5, 2015 - 12:19 pm
Extended settlement on the vacant block is the simplest – which is generally the type which is less likely to scare off the vendor/real estate agent if they’re involved.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide
Adrian Cahill
Participant
@adriannqld
Join Date: 2003
Post Count: 128
November 5, 2015 - 5:31 pm
In negotiations, when people get stuck, ask question that make people think up on a higher or more abstract level (we call this Chunking up). Example; what for, whats the purpose of that.
“Whats the real reason for selling both blocks together now?”
If they want to sell it all together for security, how else can you make them secure?
If they want to sell it all so they no longer have to worry about, how can you accommodate that?
If they need the money, how much money do they actually need and when? how can you accommodate that?
Guessing, your purpose is to make money, so how can you make money and satisfy their higher purpose too.
Adrian Cahill | AdrianCahill.com Personal Development Expert
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Here since 2002, however things have evolved over the years.
BuyersAgent
Participant
@knightm
Join Date: 2005
Post Count: 338
November 7, 2015 - 9:21 pm
@adriannqld good advice.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Jane
Participant
@ppginternational
Join Date: 2015
Post Count: 3
November 28, 2015 - 8:20 pm
You should discuss this deal with your real estate agent or vendor.Hopefully you get satisfy with your deal.
Jane
http://ppgi.com/
crj
Participant
@crj
Join Date: 2004
Post Count: 618
November 29, 2015 - 10:16 pm
they might need to sell both together to get the capital gains exemption on yhe vacant block if the house is their PPOR
David Siacci
Participant
@david-siacci
Join Date: 2014
Post Count: 17
December 1, 2015 - 7:26 am
Do they own them outright or is there a loan?
If there is no loan ask them to sell one to you and register as first mortgage. They have good security and an income in the form of interest. Buy the other one as you were going to.
If there is a loan offering a couple of thousand as option fee(not refundable) or covering outgoings during the option period may satisfy their needs.
You know there are tonnes of differing scenarios and they all effect the offer you will make to satisfy what they need.
Dave