Navra Buying Agents?

Jacque,

Unfortunately I got the courtesy call from the REA that I have a good rapport with just the other day to let me know that the property in The Crescent sold to the other couple for $640K. I was willing to go to $645K, but the vendors preferred to persist with the first couple that made an offer. Ah well, I learnt a lot from the experience and it honestly seems that every time I miss out on one, the next one gets even better!

Kay has spotted a couple more that have just come on to the market which might meet our needs. There's one that's a bit out of our price range at the 700's, but it is over 1,000m3 with panoramic ocean views. Its a steal for that price but too much for us right now. The other has duplex development potential so we'll go have a look and see what price they're talking.

We just keep plodding along and am quietly confident that we'll get one when the time is right...

Thanks for the support,
Michael.

 

1. Pay what they are asking (and maybe a touch more for a bit of incentive?)
2. Ask for vendor finance for 5 years at a good rate (to you) for 20% of the asking price.

Doesnt hurt. Solves your problem of lack of finance.

 

Michael,

If you like this place and the numbers work, why aren't you putting in an offer? Okay so you're about 50K short - big deal, draw down some of your MF's. It might seem a lot now, but if you're confident it's a good buy, just do it.

Do you think you'll drive past that property in 20 years and think to you yourself 'Gee, I'm glad I didn't hand over the extra 50K for this 20 years ago' or 'Geez I'm a damn fool for not having paid the extra 50K for this when it was worth 700, now it's worth over 3 mill!'.

Mark

 

Mark,

Good point. Its in the 700's is all I know as its going to auction. To be honest it could go for quite a bit more. Its on our radar though and we'll probably go along to the auction to see if we can get it for close to the 700 mark.

We're pre-approved to $650K, and as you say, we could easily pull some out of our MF to pick it up. Its a great block with some great views.

Kay just spotted it yesterday so we haven't had a chance to do anything with it yet.

Cheers,
Michael.

 

Good luck either way Michael.

Mark

 

Thanks Mark, I appreciate the support...

 

Hi Michael

Quarter acre with panoramic ocean views would probably be near $700K in Bundaberg, let alone on Sydney's Northern Beaches ! Hope the figures at auction go well and you get it for a steal ... I'd forego the returns on some of the managed funds to be able to sit on the likely growth in something that cool ;-)

Its not one of the baiting "bidding from..." ads is it ? ... it sounds super cheap - you can't get anything decent with water views on that amount of land in Brisbane in that price range.

Best of luck
Carl

 

Carl,

The house is a dump so its pretty much land value only. Its also a really steep site so you can't develop the full 1000m3+. So, there are some reasons its priced where it is. But its still pretty awesome. The views are that good that my wife said last night "if we get it, you know I'll want to live there!".

Ah well, I'll make it an IP for a few years to start with anyway until we get in better financial shape.

Cheers,
Michael.

 

Hah ! Good luck mate. That is EXACTLY what Mary said when we bought the last IP 18 months ago and the slab was poured on it for the PPOR only 2 days ago... The level of activity is in direct proportion to the recession of my hairline. ;-)

 

...which is in direct proportion to the volume of nagging, yes?

Mark

 

How DARE you say that about my delightful soul partner !!

(this post only in case she ever logs onto the forum)

PS. yes.

;-)

 

I bought IP using Roger's service and I will use his service again the next time.
PS: I wonder how somebody is able to recognize truly independent agent from just another agent.
Any "tips" ?

 

Very simple.

Did you pay a fee to the buyers' agent for locating and negotiating the lowest price possible for the property? If not - they are not independent buyers' agents.

Did they check all properties that were listed with other real estate agents that fit your requirments or did they restrict the search to specific developments that pay them for selling their property? If not - they are not independent buyers' agents.

Cheers

 

Good Point Sim.