buying derelict buildings?

G

gg1965

hi all,

Has anyone ever bought a derelict building - not one that was advertised, but one found while just driving around and spying one in a good location?

If so, how did you do it and how did you ascertain a price and put your offer in? Is it as simple of finding the respective owner/council contact and then just submitting a value for it? Or is there more to it then that?


Thanks

g
 
People do it all the time in the town I moved from a few months ago.

The current going rate is $18,000 according to RPdata, but I'm sure its really lower. $18k is just the exact value of the FHOG plus state government topups.
 
I am buying 1 @ present.

Its been to hell and back, and going to put it back into fashion :)

$42,500
reno $20k

Sell $140k

I was lazy so told agent i know to find owner and offer my price.

Im about 10k apart, but I might swap price for terms.
 
There are ways to find out who owns a particular property...So that isn't a concern for me.

I'm rather positive that if you approach the council and tell them that you want to buy and fix/rejuvenate a derelict building, then they would only to be too happy to help you. Afterall, it is in the council's best interest for them to NOT have derelict buildings in their municipality.

But finding out the owner is not an issue for me as i have access to that info anyway.

I'd just like to know how to kickstart this type of purchase?


Thanks


g
 
Approach owner, make them an offer? Sounds pretty easy :)

Beats just talking about it ... one of the most derelict buildings here is a piece of seriously prime real estate in the dead center of the shopping district. Total eyesore and taking up badly needed space - there's not enough shops here.

Some years later he's FINALLY fixing the place up and is putting in a freakin tombstone business. Wish someone else had given HIM an offer earlier so something a bit more ... well, lively ... could have gone in that shop.
 
RumpledElf said:
Some years later he's FINALLY fixing the place up and is putting in a freakin tombstone business.
Click to expand...

That'll match your ex-funeral home will it not? Then it will truly be the dead centre of town. Or is it a town everyone's dying to get into?:D

Project 1080.

The project: 10 IPs in 80 mths.
 
Different town. Could get an empty shop for $5000 (or less) in my old town - there's dozens of the buggers in varying states of decay. In this town there is only one for sale - for $400,000 :eek:

It still amazes me we bought a house for $65k here ... the house behind ours sold last month for $275,000 ...
 
RumpledElf said:
Different town. Could get an empty shop for $5000 (or less) in my old town - there's dozens of the buggers in varying states of decay. In this town there is only one for sale - for $400,000 :eek:

It still amazes me we bought a house for $65k here ... the house behind ours sold last month for $275,000 ...
Click to expand...

Ahh, the price of progress. Just thingk, in 20 years it'll be a mill.... and petrol will be $10, beer $150...the list goes on.

Project 1080.

The project: 10 IPs in 80 mths.
 
Project1080 said:
Ahh, the price of progress. Just thingk, in 20 years it'll be a mill.... and petrol will be $10, beer $150...the list goes on.
Click to expand...
Ah, but we got the $65k house in mid 2008 and the houses within 100m of ours that are selling have all been in the $160k-270k range in the first half of 2009. A price that low and such a big price difference makes it sound like we bought it in 2001.

Getting sick of the wait for selling my old house though. Got an offer that was promptly withdrawn over the weekend, I neeeeeeeed that money to pay for my subdivision dammit, I'm happy to sell for any price as long as I get my renovation money back dollar for dollar, absolutely no capital gains for the entire 6 years I've had the place is fine by me, I just want it SOLD :mad:

Its not a ruin but its not going to sell for much above ruin prices.
 
Google the name and you might find a phone number pop up

Tracked down a boss from my old job like that the other day. He was selling some furniture on Tradingpost with his name down on the ad and a phone number attached.

Googled his full name and the ad popped up

Took all of 10 mins
 
electoral role

If you can't find address on google or white pages, try the electoral role which is a public document and has addresses for almost everyone.

I'd also check soil toxicity in case that is why no-one has developed or done whatever before.

It's amazing though what some people leave lying around. A friend's dad has a CBD building that has been empty for decades and only now if finally fixing it up to lease.
 
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