Hi guys,
My Dad is looking to buy a 4bdr+ house in Eastern Sydney at the moment for up to $1.6ish million. Only him, his wife and my 6 year old Sister will live there, with my brother and I living there semi-permanently (and living with our Mum the other time.)
Even a 3bdr place with big land so we can build a granny flat or 2 would be acceptable to buy.
He will pay for it in cash so will be looking for desperate vendors who need to offload quick.
He is not concerned about which suburb, although my little sister goes to school in Randwick, so should be within 10-15 minutes drive of it. Maroubra is probably the furthest he will buy, but if a good deal came up a little further he may consider it (like Matraville or Malabar.)
He would prefer a renovated house, but I would prefer something with a big block of land and a not so flash house (which we can do up ourselves)
It seems a pretty good time to look for these types of houses, but would welcome everyone's opinions on suburb selection, type of house and anything else.
I have a few questions.
What is the best way to negotiate on these houses? He can do a quick settlement so that's an advantage. I'm thinking the offer should include the place fully furnished (because who wants to move all their stuff out only to see it doesn't fit etc... and will try to get a car included as well - a nice Merc would be great for me!)
There would be some vendors who would not be putting their houses on the market as they are too proud to accept they have hit rough times (and looking for a discreet private sale) but are desperate to sell - how do I get to these guys?
Also, he is planning on buying it 33% in my name, 33% my brothers name and 33% in my sisters name. This is mainly so that if he divorces from his current wife she couldn't take half the house (like my mum got lol).
Is this the best way to do it?
Should I ring every agent in the suburbs we may buy in and tell them the situation and see what they have?
The problem with these types of houses is that they go to auction - so you cannot get a good gauge of price.
Is it best to hire a buyers agent?
Thanks for the help as always,
James
My Dad is looking to buy a 4bdr+ house in Eastern Sydney at the moment for up to $1.6ish million. Only him, his wife and my 6 year old Sister will live there, with my brother and I living there semi-permanently (and living with our Mum the other time.)
Even a 3bdr place with big land so we can build a granny flat or 2 would be acceptable to buy.
He will pay for it in cash so will be looking for desperate vendors who need to offload quick.
He is not concerned about which suburb, although my little sister goes to school in Randwick, so should be within 10-15 minutes drive of it. Maroubra is probably the furthest he will buy, but if a good deal came up a little further he may consider it (like Matraville or Malabar.)
He would prefer a renovated house, but I would prefer something with a big block of land and a not so flash house (which we can do up ourselves)
It seems a pretty good time to look for these types of houses, but would welcome everyone's opinions on suburb selection, type of house and anything else.
I have a few questions.
What is the best way to negotiate on these houses? He can do a quick settlement so that's an advantage. I'm thinking the offer should include the place fully furnished (because who wants to move all their stuff out only to see it doesn't fit etc... and will try to get a car included as well - a nice Merc would be great for me!)
There would be some vendors who would not be putting their houses on the market as they are too proud to accept they have hit rough times (and looking for a discreet private sale) but are desperate to sell - how do I get to these guys?
Also, he is planning on buying it 33% in my name, 33% my brothers name and 33% in my sisters name. This is mainly so that if he divorces from his current wife she couldn't take half the house (like my mum got lol).
Is this the best way to do it?
Should I ring every agent in the suburbs we may buy in and tell them the situation and see what they have?
The problem with these types of houses is that they go to auction - so you cannot get a good gauge of price.
Is it best to hire a buyers agent?
Thanks for the help as always,
James