There's no harm in asking, right?
So:
I'm arranging a private inspection ASAP, hopefully before anyone else gets a look in (a handful of others are now also aware he plans to sell). If it aligns with my expectations, and ticks the boxes, the price he thinks it's worth is a steal, $15-$30k below market value, easily.
So, anyone want to offer some food for thought, suggestions, strategies etc to secure this place quickly, at what HE--not the market--thinks it's worth? Moving quickly is vital; not only because I have competition, but if he gets a few vals done, his price expectations will justly rise.
I'm always open to input so fire away. Negotiation/bargaining tactics, special contact clauses to sweeten the deal, offer strategies etc. Go nuts. I'm all ears.
Cheers in advance.
So:
- Ran into guy who wants to sell his place.
- He wants to save on agent fees and sell privately.
- He moved out 3 months ago and is currently renting.
- He's going to sell this place (crazy) to buy in the suburb he started renting in 3 months ago.
- In his own words, he's "not an investor".
- His tenant has 9 months left, and is probably paying $30-$40 below market rent.
- A recent sale in his complex (level above) has given him the idea his place is probably worth $20k less than the recent sale. His place has a superior floorplan, he claims.
- He mentioned there was a huge levy raised a few years ago to revamp the place (tile outdoor areas, repaint etc) but he paid it all up front. It's likely that other owners are still paying it off (I'll do a strata search to confirm). I reckon this reduced price of the recent sale as the buyer would have inherited that burden.
- He is getting a "valuation" done soon, and by that, I mean, he's going to be asking agents what they think it'll go for. I don't think he's very astute.. Either way, I think it'll come in a good bit over what he's thinking it's worth.
I'm arranging a private inspection ASAP, hopefully before anyone else gets a look in (a handful of others are now also aware he plans to sell). If it aligns with my expectations, and ticks the boxes, the price he thinks it's worth is a steal, $15-$30k below market value, easily.
So, anyone want to offer some food for thought, suggestions, strategies etc to secure this place quickly, at what HE--not the market--thinks it's worth? Moving quickly is vital; not only because I have competition, but if he gets a few vals done, his price expectations will justly rise.
I'm always open to input so fire away. Negotiation/bargaining tactics, special contact clauses to sweeten the deal, offer strategies etc. Go nuts. I'm all ears.
Cheers in advance.