From: Dianne Ferrara
Hi,
I'm relatively new to the world of investing
but I have recently purchased an off the plan
which settles in May 2002. I believe it is a very good buy and have been offered a 10 yr rental guarantee at 6% which I have taken.
My question is this: there are other properties that have come up in the same development and I would like to buy 1 and sell it prior to settlement for hopefully a good return. How do I go about this technically?
a) organize a deposit bond and then sit on the prop. for a few months,
b) find a buyer and sell
c) do I need to settle or be in a position to settle with the developer and therefore need to go thru a loan process or is it simply a case of letting the buyer go through the process???
Could someone help me out on this. I don't want to make a colossal mistake and would appreciate some/any advice.
Cheers, Dianne
Hi,
I'm relatively new to the world of investing
but I have recently purchased an off the plan
which settles in May 2002. I believe it is a very good buy and have been offered a 10 yr rental guarantee at 6% which I have taken.
My question is this: there are other properties that have come up in the same development and I would like to buy 1 and sell it prior to settlement for hopefully a good return. How do I go about this technically?
a) organize a deposit bond and then sit on the prop. for a few months,
b) find a buyer and sell
c) do I need to settle or be in a position to settle with the developer and therefore need to go thru a loan process or is it simply a case of letting the buyer go through the process???
Could someone help me out on this. I don't want to make a colossal mistake and would appreciate some/any advice.
Cheers, Dianne
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