Where NRAS is concerned I happen to know that the re-sellers are in for around $25k+ in commissions and so do be careful that the property is at market value when you buy it.
Been thinking about this and it just doesn't hold water.
How is the commission for a seller of an NRAS different from a REA commission on a typical property?????
In both instances there is a commission built into the price and both get paid to agents.
What am I missing here????
Lomas sometimes bleats on but I struggle to see why.
I agree NRAS can be dodgy in areas where they might be part of a unit development, but there are NRAS product in suburbs and regional areas that are stand alone single resi.
Sure you might pay more for the newer product but that would be true for a non NRAS product.
You still pay agent's fees in both cases.
You still get paid rent in both cases.
You will get paid $10K or so per annum for NRAS for 10 years.
After 10 years it is exactly the same as the house next door.
If you wanted a property to be CF+ from day one with 100% finance then NRAS is almost a no brainer.
I guess the ultimate test is comparing it to a non-NRAS next door.