PropertyInvesting.com | mazza007 | Activity

mazza007 replied to the topic Vendor finance offer on rural property? in the forum Help Needed!

Sun, 10 Mar 2013 00:46:32 +0000

Thanks Terry,

Yep,I'm pretty sure he's had this property for enough years that he wouldn't have paid much for it.

Any idea how I can find out how much he paid? Is that sort of info on record somewhere?

Cheers

Mazza

mazza007 replied to the topic Vendor finance offer on rural property? in the forum Help Needed!

Sat, 09 Mar 2013 08:20:00 +0000

Thanks Freckle, Thanks Paul,

Lots to think about there,
I'll go have a chat to the DA and the solicitor and see how I go.

Thanks so much for your advice, I'll let you know how it goes!

mazza007 replied to the topic Vendor finance offer on rural property? in the forum Help Needed!

Sat, 09 Mar 2013 06:35:54 +0000

Thanks Paul,

I'm pretty new to this, so apologies for my confusion!

I was under the impression that I wouldn't be able to do the subdivision until I held the title i.e. I had paid the owner entirely for the property. Or is there a way I can get subdivision approval and sell those twenty acres lots to pay the owner out?

I am assuming the…[Read more]

mazza007 replied to the topic Vendor finance offer on rural property? in the forum Help Needed!

Sat, 09 Mar 2013 05:59:38 +0000

Thanks for that! I thought it would be because its so hard to get anything out of the banks. So would it be silly to just approach the owner first and not even bother with the run around from the banks?

What's a reasonable offer? Would something like K300, 60K deposit, the rest over 5 years, be reasonable?