- St Johns AmbienceMember@st-johns-ambienceJoin Date: 2004Post Count: 48
Hardly what you’d call Due Dilligence but this last few days I was very tempted to buy an IP sight unseen,didn’t but . …and you hear stories about people doing this. So I was wondering if any of you folks have actually bought that way ?? MLVhudson66Member@hudson66Join Date: 2004Post Count: 26
I have 2IP bought sight unseen. Australia is a big country & the expense of travelling can be prohibitive. My view is, you can do all the research in the world; at some point you have to decide if the deal has a cost you are prepared to wear if you are wrong!!
I will complete the due diligence stuff & if I can, will find a local 3rd party to perform my inspection. I am happy to pay for their time and provided they have no other interest in the property i.e. normally work for the RE. Can be a cheaper option. Normally I provide a checklist from the ‘buyer beware’ pack, & ask specific questions. I always ask for as many digital photos as I can get. Finally, if you still are uncertain with your answers, then pick up the phone & ask more specific questions from the RE.
Ultimately if the questions are not answered well enough, be prepared to toss the deal. There are plenty more out there equal if not better.RodCMember@rodcJoin Date: 2002Post Count: 335
I’ve bought 2 IP’s now sight unseen. However in both cases they were in locations I was familiar with (and had been to) and were subject to building/pest/finance etc.
I also go the agent to provide lots of digital photos and in one case got a relative in the area to check the property out as well.
Rod.TwilightMember@twilightJoin Date: 2003Post Count: 22
I totally agree with the previous responders. I have bought 1IP in April. We made lot of phone calls to various RE, and late nights trawling the internet for the right one. Councils can be helpful if you can get a patient person on the other side of the phone line.
TwilightwestanMember@westanJoin Date: 2002Post Count: 1,950
i’ve bought about 6 homes unseen (1 in oz and 5 in NZ). the important thing is to get a rental assessment from an independant property manager, they will tell you lots about the home that the selling agent wont, also you must get a builder to check out the property. It always better toview the property but sometimes its not possible. One interesting thought six of those 6 homes i only own 3 today- the others all sold for a profit.
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