Please play nice- very new to this!!
We have our PPOR on the market, first open home tomorrow. We have found a place we a very keen on near the beach. It will be our PPOR for about 3 years while we renovate then will use equity to get next PPOR and rent beach house out.
My question is regarding putting an offer on the house with conditions of building/pest/finance and the sale of our current property. When we purchased this place 9 years ago, it was 14 days to sort finance etc, but how long do you give to sell current house? Or is it indefinite? ? Also, our deposit is tied up in current house as equity, looking at getting around 70k profit when we sell, but have pretty much zero cash available at the moment. I'd like the offer to be a fair price for both parties but not to be laughed at if we then have ridiculous conditions attached.
The beach house has been on the market for 6 weeks and only 4 people have been through, none making an offer. The owner is an investor looking to sell so they can make next purchase. Would you, as an investor, accept an offer with those conditions if the price was fair/ close enough to what you were asking?? What happens to the contract if our house takes forever to sell? Would you rather sit and wait it out for someone cashed up and ready to go?
Thanks for your patience with me!
We have our PPOR on the market, first open home tomorrow. We have found a place we a very keen on near the beach. It will be our PPOR for about 3 years while we renovate then will use equity to get next PPOR and rent beach house out.
My question is regarding putting an offer on the house with conditions of building/pest/finance and the sale of our current property. When we purchased this place 9 years ago, it was 14 days to sort finance etc, but how long do you give to sell current house? Or is it indefinite? ? Also, our deposit is tied up in current house as equity, looking at getting around 70k profit when we sell, but have pretty much zero cash available at the moment. I'd like the offer to be a fair price for both parties but not to be laughed at if we then have ridiculous conditions attached.
The beach house has been on the market for 6 weeks and only 4 people have been through, none making an offer. The owner is an investor looking to sell so they can make next purchase. Would you, as an investor, accept an offer with those conditions if the price was fair/ close enough to what you were asking?? What happens to the contract if our house takes forever to sell? Would you rather sit and wait it out for someone cashed up and ready to go?
Thanks for your patience with me!