Making an offer on the unit we are renting?

Hi all,

I have just moved into a rental property in North Parramatta with my wife paying $360 for a 2br 1bath 1garage. The unit is really nice and we talked about making the owners an offer early next year once the FHOG finished (even though we are eligible).

However the owners have decided to sell now, and we have had real estates come through and value the property. They have all said that the unit was purchased for $350K 3 years ago and it is currently worth that now.

So my question is, what is the best way for us to get a low price on the unit? We dont want to appear to desperate to the owners. Also the owners are from overseas and they may want a quick sale. Do you think we should use the FHOG as a bargaining tool?

many thanks
Graeme
 
However the owners have decided to sell now, and we have had real estates come through and value the property. They have all said that the unit was purchased for $350K 3 years ago and it is currently worth that now.

Are you saying the property has had 0% capital growth for past 3 years? Why is that so? If there is a good reason for that then why do you want to buy something that has not shown any capital growth over the past 3 years?

Cheers,
Oracle.
 
So my question is, what is the best way for us to get a low price on the unit?

Do you want the ethical or unethical method..... :eek::D

You know like pointing out every single fault to every potential buyer looking through, how rowdy the neighbourhood is (get your mates to have a doof doof car nearby doing donuts in the street at opens), leaving a rusted out shell of a car out front, bit of graffitti....:eek:

Cheers,

The Y-man
 
So my question is, what is the best way for us to get a low price on the unit?
Graeme, look it is a seller's market not a buyer's one. If the unit is worth $350K then why would the owners sell it to you for any less? The only thing you could offer is to buy it for say $340K assuming they don't have to pay REAs commissions of 2.2 - 3% (about $9-10K)

Also the owners are from overseas and they may want a quick sale.
Well offer them a quick sale - no marketing campaign etc - you just buy it now :)

Do you think we should use the FHOG as a bargaining tool?
:confused: You lost me. How is the FHOG a bargaining tool?
 
Are you saying the property has had 0% capital growth for past 3 years? Why is that so? If there is a good reason for that then why do you want to buy something that has not shown any capital growth over the past 3 years?

Oracle a lot of Sydney has shown losses since the peak of the boom in 2003/4. Now the market has lifted again in 2009 it has just reached those highs from 03/04 again (and some places much more).
 
Y-Man I like it! Kinda of like the movies you see where the kids dont want the house to sell...lol.

The area does have and will probably have low capital growth for the short term, however the demand for rental properties is very high. So we are thinking that we will buy this unit then rent it out in 5 years or so and try to buy somewhere else. Do you think this is a good idea?
 
:confused: You lost me. How is the FHOG a bargaining tool?[/QUOTE]

thanks for the comments propertunity. What I meant was that we could say to the owner that we can offer them an extra say 5k now than what we could in say January or even October. So maybe this on top of what you said about the marketing campaign may work in our favour??
 
Oracle a lot of Sydney has shown losses since the peak of the boom in 2003/4. Now the market has lifted again in 2009 it has just reached those highs from 03/04 again (and some places much more).

Especially in these parts. Guildford (two subrubs away) was down 30% on 2004 prices when I bought at end of 2008.

Approach the owners directly. Cut out the middle man and split the savings.

G
 
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