Hi all, whilst inspecting a unit at an OFI a week or so ago, i was approached by a middle aged lady asking me what i thought the property was worth, i was a little bemused and asked her reasoning and she explained she owned a unit on the same road and was looking at selling soon and would rather not use a REA and the property was not advertised as yet. Later that day she showed me through the property with the blessings of the tenants. My predicament is that, the original property i was looking at is going up for auction next week.. The lady of the unadvertised property asked me to get back to her and have a chat about a price and so forth, i imagine as she is not using a REA and won't have to pay advertising costs and so forth she would save a fair bit of money by selling this to me.
If for example the unit at auction goes for $300,000, and this unit is very similar, what would be a reasonable offer to this lady considering she will save a fair sum of money in the process of not using a REA with no OFI or auctions?
Also... does this all sound fairly above board to people and are there any major risks involved in not using a REA when buying?
Many thanks in advance
If for example the unit at auction goes for $300,000, and this unit is very similar, what would be a reasonable offer to this lady considering she will save a fair sum of money in the process of not using a REA with no OFI or auctions?
Also... does this all sound fairly above board to people and are there any major risks involved in not using a REA when buying?
Many thanks in advance