Peoples thoughts on Adelaide?

Discussion in 'Where to Buy' started by havinago, 17th Jun, 2014.

  1. D.T.

    D.T. Property Lookerafterer

    Joined:
    4th Feb, 2003
    Messages:
    7,181
    Media:
    6
    Location:
    Perth & Adelaide
    Yes straight away, that's entirely the point
     
  2. Corey Batt

    Corey Batt Finance Broker

    Joined:
    6th Apr, 2010
    Messages:
    3,209
    Location:
    Adelaide, South Australia
    Lenders take the lower of the valuation or the purchase price so you can't pull that off unfortunately - it does mean that after a few months you can draw out any equity gain however which may get you onto the path of buying your second property (a common strategy a lot of my younger clients are doing).

    It's also extremely rare for a valuer to value above purchase price, as they hold the liability of justifying the above market price.
     
  3. Anon_

    Anon_ Impulse Buyer

    Joined:
    23rd Jan, 2012
    Messages:
    321
    Location:
    Adelaide
  4. Corey Batt

    Corey Batt Finance Broker

    Joined:
    6th Apr, 2010
    Messages:
    3,209
    Location:
    Adelaide, South Australia
    Not a fan of the train line at the rear of the yard - and neither would lenders/mortgage insurers causing long term problems when you go to refinance/draw equity/sell.