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Hi all, Just wanted to say thanks for your advice over the past week. I exchanged contracts yesterday so now full steam ahead with accumulating savings and staying positive :) Thanks again.

Thanks RightValue. I didn't think of it like that and so very helpful to know :) I think I will pay for a private valuation before signing the contract. Even if it holds no weight with the bank it will make me feel better knowing that it is comparable to current market values. Yes it is...

Thanks Steve for the heads up. That does sound like a pretty bad situation. I guess that could happen in any OTP development...The only way to address that risk is to not buy OTPs?? I can't imagine any OTP not allowing onsales...

Thanks for the support CraigB. I think it will be okay as I don't think I've overpaid for this place. Most one beddies for sale at a comparable price are smaller than the place I'm looking at (79 square metres). Plus I look at the kinds of established flats at my price range and I think...

Thanks very much Rugrat :) Actually the one beddie rentals in Bruce is not that bad $350 to $380 per week. Plus I had a look at the share rental ads and while there are some students there is also a good proportion of young professionals. I would prefer to rent to professionals rather than...

Hi all, Previously I posted that I was looking at OTPs in Canberra and today I was allocated an apartment in a new development today. I think I will be going for it! :eek: Any tips for new players? I am particularly worried that on exchange (in 2 weeks) I will need to hand over 5%...