A slightly loaded question - For inner Melbourne buyers

[The Y-man]

Hi All,

Would like to get your opinions on this property from a buyer's perspective

The property is Res A, very short walk from Vic Market.

http://www.realestate.com.au/cgi-bin...04129835&t=res

For those who know the area, the building fronts onto both O'Connell (behind City Lexus) and Cobden streets.

Cheers,

The Y-man

[Rolf Schaefer]

Looks good to me - provided it is large enough to qualify for a loan - preferably 45sqm.

[The Y-man]

Originally Posted by Rolf Schaefer

Looks good to me - provided it is large enough to qualify for a loan - preferably 45sqm.

It will get a 80% no prob.

BTW there is a laundry in the bathroom (in the closet).

Cheers,

The Y-man

[JIT]

Hi Y-Man,

What is the body corp. fee?

Any lifts?

Which floor is this apartment on?

And...why are you selling it?

GSJ

[The Y-man]

Originally Posted by GSJ

Hi Y-Man,

What is the body corp. fee?

Any lifts?

Which floor is this apartment on?

And...why are you selling it?

GSJ

Not my apartment - nor do I have any association with the seller.

HOWEVER - I do own an apartment in the block, so I am watching closely - and yes with the possible intention to offload. We are looking to "consolidate" our smaller unit holdings into some bigger properties, and yes, the place has a lift and you all know my view of lifts!

BC - will need to confirm but I think it is around the $1200 pa mark (high - but no gym, no pool)

Lifts: YES (aaaaargh!! ) - one unit services 3 levels

I think the one in the ad would be a level 2 or 3 (1 being the ground). A call to the agent will acertain this, as the unit number is coded FXX where F is the floor number.

For comparison, our unit rents out for $250 pw (I think!!), is on Lev 2, is not street facing (there is an inner courtyard/void) and has a balcony.


So here's another question for forumites - if we are to sell, should we:
1. wait until this one goes
2. put it on the market at the same time


Cheers,

The Y-man

[Kenster]

Originally Posted by The Y-man

So here's another question for forumites - if we are to sell, should we:
1. wait until this one goes
2. put it on the market at the same time

I think the decision should be based on market mood.

If there is strong buyers demand, then yours can be put on the market at the same time. By doing so, you can leverage the publicity and market interest in the first unit and offer an option to those would-be missing out. You can be guaranteed of selling at same price or even at better price.

On the other hand, if market mood is not there, it's better to delay the sale to another time.

Buyer interest can be gauged by turning up at open-for-inspections.

Make sure you engage the best saleman. There are many duds out there

[The Y-man]

Originally Posted by Kenster

Make sure you engage with the best selling agent

Not the same agent?

The Y-man

p.s. I'm away next weekend - can you go to the open?

[Kenster]

Originally Posted by The Y-man

Not the same agent?

Some agents are number-counters. Their aim is make the sale happen so that they can earn the commission. They will promise anything to sign up the vendor then trying to stitch up the deal with any party who is willing to sign the dotted line first.

I did not use the same agent with my last sale. Got the record price for the block. Happy with the decision

PS. Looking back, it would have been better if the unit was never sold (a la Jan Somers' approach)

[JIT]

BUMP!

What happened with these properties in the end Y-Man?

GSJ

[The Y-man]

The ad's still there, so I assume NO DEAL ... so I see no point putting ours on the market......

Cheers,

The Y-man

[JIT]

Thanks for the update.

Surprising it's still not sold...?

GSJ