Forum Replies Created
thanks
but what's SS?
just the basics to get me started, for now.
thanks!
Hi Duckster
Thanks for your reply.
I had already read that article before posting cos that article didn't answer my question. Basically i'd like to know HOW TO sell an off-the-plan property, because i just couldn't find such ads on domain.com or realestate.comthanks
AOThanks for your help.
So are you saying they are basically the same thing?
cheers
AORe the "affordability" issue……
Sydney is not Australia's Sydney but the whole world's. Overseas buyers are cashed up and don't give a damn shit about interest rates and local affordability…A friend of mine will come over in a few weeks with an overseas buyer. Won't spend too much this time—ONLY 2 millions in cash. and 2 millions is just peanuts for him since he makes over 20 million on average a year.Cheers
AOThanks for all your comments.
My friend got the loan and the valuer’s comment turned out to be just a comment. Any that valuer looked dodgy to my friend and I. We don’t think he is very professional—he is originally from a 3rd-world South-Asia country and was dirty and he didn’t smell too good. We were shocked to know he was the valuer we were expecting when he introduced himself.anyway with the strong rental yield this property will be positively geared and my friend is not worrying too much about that comment.
Thanks again for all your input.
AOHi Marc
Thanks for your help.
It's a new building and there are not many comparables.
Let's see how much the bank is willing to lend…cheers
AOHi Luke
Could you please give a little bit more details of pros and cons of both?
I have no idea so would like to hear anything helpful!many thanks!
AOHi Marc
Thanks for your reply.
yes over $500K for a unit. It's in sydney's Innerwest and 1 minute to water.
As i've mentioned before there's another complex across the road that has been selling for years and comparable units are in the mid 600K. I've got mine in the low $500K. Does that sound crazy?
Please shed some lights as i'm a bit confused….Thanks
AOL.A Aussie wrote:$500k+ for a 3 bed UNIT?
In a 200 unit complex?
AND for you first PPoR?
And there is ANOTHER complex across the road?you are a lot more brave than me.
Hi Elka
Thanks for your input.
I'm not trying to do anything illegal here. The bottom line is that i can buy it under the market value and it's just a matter of playing numbers.Could anyone help me with the other 2 questions? I'll repeat them as follows:
1) do banks tend to value full-brick units higher than brick-and-veneer units if all other factors are the same?
2) Is it even possible to get an even higher valuation? cos the other big project 5 minutes away is selling comparable 3-bedders for minimum $635K and it seems they don't have an issue with valuation either. Is it possible that i can get my unit valued at close to $635K? When valuers do their valuation, do they only look at comparables in the same project, or do they take into account nearby similar comparables as well?Many thanks!!!
AOseems all the posts were a bit off-the-topic.
Could anyone else help with my original questions?Thanks in advance
AOHi Panda
Thanks for your comments.
Why do i want to value higher? Because i want to fork out less cash for down payment. If it's valued at $650K most banks will be happy to lend you 80% i guess. that means i can borrow $520K. But the actual selling price is only $530K which means i only need to fork out $10K.Could anyone else help me with my other questions?
Thanks!
AOL.A Aussie wrote:You keep smokin' dude; I'll stick to Napoleon Hill.I don't smoke at all.
found that website adn shared it here cos i thought some ppl would be interested…that's all.Thanks for your help Julie.
I asked that question cos i got a call from a friend of mine who is an agent. he said a developer will launch a new project close to Sydney's CBD, with apartments that are totally refurbished. it has already been done. the price looks not-too-bad but just not sure about the warranty thing.cheers
aoThanks for your great help.
just one more quick question: is there anything i need to pay special attention to when buying interstate? for example, i was told i HAVE TO use a Victoria-based solicitor…is this true?
thanks again
aoHi
thanks a lot for all your feedbacks.
actually the situation is this: the agent wants my business so badly that he says he’s willing to give me discounts from his own commissions(his logic is some commissions are better than nothing). my logic is like this: since the agent gets paid from the developer, the developer should be able to give me a bigger discount but i’m just not sure if i can get that…cheers
aoThanks for your reply.
anyway i’ve read the official website before asking this question here…that friend of mine put that house under his own name, without using any company/trust structure. and he’s been living there for a long time and for residential purpose only.
any more help please?
Thanks
aohi thanks for your comment.
actually i’m not seeking financial advice here. i’m not asking “should i buy or not?” i’m just asking to see if there’s anything negative about that area, anything that could be an instant turnoff to other buyers—i personally wouldn’t buy properties in Auburn, Macquarie field and Redfern in Sydney.
any other Melbourne locals here could point out one thing or two regarding that area?
thanks a lot in advance
ao
