7 months of trying to buy, maybe this is the one

Good morning all, after seven months of private sale negotiations and bidding at auctions with nothing but :mad:, :(, and :confused: to show for it I am back in the trenches trying to negotiate purchase.

Here is the property in question:

xx


I attended the open for inspection yesterday, there were a few a couple of parties possibly interested and the RE agent seemed confident it would sell promptly. When I spoke to her she said that she had already received offers above the 'buyers inquiry range' (waste of time range more like.)

I asked if she would accept offers subject to finance approval and a building and pest inspection.

Her response was 'oh, well, as we've had unconditional offers you'll need to make your offer as attractive as possible, other prospective buyers have been through and checked the cupboard doors don't squeek and are happy with the build quality...'

God I love real estate agents, want to invest half a million dollars, just check the cupboards don't squeak and that proves the structural integrity of the property!

Anyway, I am trying to work the market value of the property, I would like to make a competitive offer but I'm having trouble finding data that supports a fair purchase price for the property.

Does anyone know the area and market or have any data that may be of assistance in submitting a winning but sensible offer?

Any thoughts welcome :)
 
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Good morning all, after seven months of private sale negotiations and bidding at auctions with nothing but :mad:, :(, and :confused: to show for it I am back in the trenches trying to negotiate purchase.

Here is the property in question:

'The Moon'

I attended the open for inspection yesterday, there were a few a couple of parties possibly interested and the RE agent seemed confident it would sell promptly. When I spoke to her she said that she had already received offers above the 'buyers inquiry range' (waste of time range more like.)

I asked if she would accept offers subject to finance approval and a building and pest inspection.

Her response was 'oh, well, as we've had unconditional offers you'll need to make your offer as attractive as possible, other prospective buyers have been through and checked the cupboard doors don't squeek and are happy with the build quality...'

God I love real estate agents, want to invest half a million dollars, just check the cupboards don't squeak and that proves the structural integrity of the property!

Anyway, I am trying to work the market value of the property, I would like to make a competitive offer but I'm having trouble finding data that supports a fair purchase price for the property.

Does anyone know the area and market or have any data that may be of assistance in submitting a winning but sensible offer?

Any thoughts welcome :)

Wouldn't you know that already if you have been researching, bidding and putting offers forward for 7 months? :confused:

pinkboy
 
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Wouldn't you know that already if you have been researching, bidding and putting offers forward for 7 months? :confused:

pinkboy

I've moved the focus of my search several suburbs further out of the city in the hope of finding a price bracket that is viable.
 
You should focus on 2 to 3 surburbs, that way, you would know the market for these areas and be ready to pounce when a bargain comes on the market.
 
2/68A Valetta just sold for $512k and is only 2 bed, 2 bath, 1 garage. Really unusual layout, as the photos show 3 living areas!
 
Is it just the photos or do the ceiling heights in a lot of rooms look under legal height?

Interesting observation I will check that out if things progress.

2/68A Valetta just sold for $512k and is only 2 bed, 2 bath, 1 garage. Really unusual layout, as the photos show 3 living areas!

Mmm, hadn't seen that one, appreciate the comparison.

Have you considered buying ex Department of Defense houses...this one is close to the Watsonia Army Barracks. Rosanna is the closest station which is only a 20 minute train ride to the city:

http://www.realestate.com.au/property-house-vic-yallambie-114076635

Chris

Thanks Chris but I'm restricting my search to the south east for the time being.
 
Hi start-up

Have you defined a spec for the property? For instance, that it shall be an IP and needs a yield of x%. Much easier to narrow down the search to suitable suburbs with a strict set of criteria..
 
7 months? Perhaps being unrealistic?

All my offers to date have been unconditional. If I wanted early entry or something else I would stagger the prices accordingly. $3k less if early entry wasn't accepted stuff like that.

You should try to know your market better than the agents. Concentrating on a handful of suburbs makes it a whole lot easier.
 
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