2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of jempirejempire
    Participant
    @jempire
    Join Date: 2001
    Post Count: 19

    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 3 years, 10 months ago by Profile photo of jempire jempire. Reason: Wordsmithing
    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Call Option or extended settlement.

    Cheers

    Yours in Finance
    0-40 properties in a decade. Ask me how.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    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

    Profile photo of Adrian CahillAdrian Cahill
    Participant
    @adriannqld
    Join Date: 2003
    Post Count: 127

    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
    http://adriancahill.com/from-investor-to-coach/
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    Here since 2002, however things have evolved over the years.

    Profile photo of BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 317

    @adriannqld good advice.

    BuyersAgent | Precium
    http://www.precium.com.au
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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

    Profile photo of JaneJane
    Participant
    @ppginternational
    Join Date: 2015
    Post Count: 3

    You should discuss this deal with your real estate agent or vendor.Hopefully you get satisfy with your deal.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    they might need to sell both together to get the capital gains exemption on yhe vacant block if the house is their PPOR

    Profile photo of David SiacciDavid Siacci
    Participant
    @david-siacci
    Join Date: 2014
    Post Count: 17

    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

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