Recent content by Bruc3

Just to confirm. As long as 1 Valuator gives the price I want, then I can effectively loan 80% of that valuated price from the Bank right?

I am very cautious about OTP and aware of the risks. If the time comes and valuation does not look good, I will try to get a few different valuation.

Thanks for your feedback.

Melbourne, that bad ay. Hope its not the same in Sydney.

Yeah, I guess he could have overpaid for the property. Anyway, I have decided to offer a lower price than the asking price just to try cover my behind just in case.

So has anyone recently settled an OTP property who would like to share their experience with the valuations? Did you see gain or loss, and buy how much?

Hi guys, I am almost about to jump the gun on buying an off-the-plan (OTP) Apartment in Sydney (Australia). A friend recently just settled his off-the-plan but valuation came under at 10% less than his purchase price and he told me that the Banks have told him that now days Off-the-plan...

Yeah that is an option, however like you said you would be limited to the choices of the Apartments by then. And yes, I do agree it is a bit of a gamble both ways, either buying OTP now or established next Year once its complete. Right now I am definitely leaning more towards OTP because I...

Thank you for sharing your experience. :)

Nope, I have been renting long enough and its due time to buy. I get tired of moving around all the time. Plus kids will be coming in near future and would like to have our own place by then.

I will likely go scout out the area again before I commit to anything. Try to sus out the surroundings. Thanks.

71 Units split between 2 Apartment buildings and 6 Levels each. So it is a fairly big Development.

Ah ok. That is something I will think about. Thanks.

Yep, those details are definitely important to me. I will try to get a solicitor to arrange if specifics can be put into the Contract such as what brand the elevator may be etc.

haha...yeah if I don't end up finding an OTP I like, I will likely just buy an Established property but won't be until 2015 then. :)