How can I make sure no one buys a property before I inspect it in 2 weeks?

[jennyn]

I'm interested in an out of state property that I saw on an agency's website, however I can't get a flight there for the next 11 days. I've already rung and made initial inquiries about it. I'm also interested in a few other houses in the area that I plan to inspect while I'm down there.

So my question is, is there anything I can say or give them a refundable deposit of $100 or something like that to put it on hold for me and to show them I'm serious about inspecting it as it's number 1 on my list?

I have to arrange an inspection time with them as tenant requires 24 hours notice and it has to be in the afternoon. I also have to tee up flights and accommodation and car hire.

I also have to arrange finance but will be making inquiries about that next week.

 

[toony]

*****Buy it*****

 

[see_change]

Make an offer to buy it subject to purchasers satisfaction with inspection of property ( or words to that effect ) . Have a contract drawn up by your solicitor to that effect .

Can't see that giving a deposit without a contract is going to do much . If it did I'd be wondering .....

See Change

 

[Kristine..]

I'm interested in an out of state property ... (and) a few other houses in the area that I plan to inspect while I'm down there.QUOTE]

Hi Jenny

It wouldn't matter where the property is, if you want to inspect it - and others - before you buy and you can't inspect until a later date, then you may want to consider asking someone you know and trust to make a preliminary inspection on your behalf.

By 'out of state (NSW) and down there' are you referring to Victoria or Tasmania? There are lots of Somersoftarians in both States - or you could even consider using a Buyer's Agent.

Quite a number of investors have mentioned previously buying sight unseen - particularly when buying across the country. I'm not recommending you do this, but then again, why not?

If you make an offer 'subject to' finance, the usual inspections and your own inspection, then your inspection would also have to meet the criteria of the other inspections, ie, something materially wrong with the property for you not to proceed. It couldn't be construed as just an extended 'Cooling Off' period or because you changed your mind or found something you liked better.

Where there is a Will, there is usually a way. Good luck in finding a Way to do this!

Cheers

Kristine

 

[geoffw]

an you arrange a buyer's agent in the area? It may be worth the cost to save your own costs, time, and to cover your lack of local knowledge.

 

[jennyn]

I hadn't thought about a buyer's agent which is a good idea. It's not in a major city although not far from one. I would have to inspect it myself before I bought it because it would be for me to live in.

Will search for buyer's agents next.

 

[Michael.Knight]

What exactly is the role of a buyer's agent i.e obviously they look at a house when you can't be there but do they do anything else like sort out the terms etc?

And how much would they charge?

Also considering Jennyn's situation, would there be any other situations where a buyer's agent would be helpful?

 

[Ali G]

Rather than wait, couldn't you just drive if you are in such a hurry to see it? Or if it is in Tasmania, you could drive to Melbourne and fly from there if getting flights is easier? If you really want the place, surely the extra effort is worth it!

Good luck.

 

[jennyn]

I don't have a car and I don't think Mum would be able to lend me her car because she'd need it while I was away plus it would be a very long drive for one person so it would probably take me 3 days to get there by hire car!

Plus I need to sort out finance which it might be better to do this week before I see it the week after so then if I absolutely want to buy it after inspecting it I'll know if I actually can or not and what my top offer price would be.

 

[The Y-man]

What exactly is the role of a buyer's agent i.e obviously they look at a house when you can't be there but do they do anything else like sort out the terms etc?

They are your agent - you instruct what you want them to do. Whether it's because you are far away, or you have more productive use of time elsewhere, they are essentially your "employee".

Cheers,

The Y-man

 

[geoffw]

jenny

Don't panic if it doesn't work out.

If the place is still available after two weeks, it may not be all that good after all. (Or it may be a diamond in the rough).

But there's always another deal. Don't get emotionally attached to one.

It's often been said (especially on this forum)- "the deal of the year comes oncve a week".