Some advise on units purchase in NSW

[travelbug]

Has your offer been accepted?

By the way this is not an example of gazumping.

Gazumping is when your offer has been accepted THEN the vendor sells to someone else with a higher offer.

According to this thread your initial offer was not accepted.

Good luck. It can be frustrating.
I don't like the put your offer in envelope idea. I've never seen it done in Australia but I've seen it on some English property shows.

 

[Pa1nter]

Has your offer been accepted?

Yes my offer has been accepted,so gazumping could still be coming my way

 

[Pa1nter]

I have just been told last night by my solicitor that the contract is finally on its way to me.

I should get it Monday by express post.

I have no idea why they took so long

 

[wobbycarly]

10 days for a contract? Is he walking it to you?

 

[Pa1nter]

10 days for a contract? Is he walking it to you?

It is actually 14 days since offer was accepted,
Even solicitor was puzzled,maybe waiting for another offer?

 

[Pa1nter]

Just updating on units,
Unconditional as from Monday,
24 days settlement,
Contract price $150100,
Last rents were $80 per week x 5 100% occupancy rate with 5 year lease.
After two week Reno and A/C's $100 -$110 week each.
If furnished,add $40 week each,possible mine rental.
Reno and updating costs around $20,000
400 meters to the RSL and other amenities in the center of town.



http://www.realestate.com.au/cgi-bi...er=&cc=&c=1897346&s=nsw&snf=rbs&tm=1267770656

 

[Propertunity]

Well done (I think??).

I love the zoning: Zoned 3(a) General Rural

 

[Pa1nter]

Well done (I think??).

I am interested in your thoughts.
You think??

 

[Propertunity]

I am interested in your thoughts.
You think??

Just ignore me. I don't like the country. Growing up I spent 1/2 my childhood in the city and the other 1/2 in the country.

I have a personal ingrained bias now against the country. Too hot, dry, dusty, too many flies, too slow, too stinky, too much manual work. I just like the city & the surf.

 

[Pa1nter]

Just an update for the flats for those interested.

They finally settled on 30th March,purchase cost was $150,100

I have been staying in the town personally doing the renos for the last three weeks with one worker.
I haven't had a total tally of costs yet,but in the vicinity of 25-30K,maybe a little more as I decided to go fully furnished.

I have a rental appraisal of $150-180 per unit.We are expecting a lease with a larger company for all of them,so approx 750-900 week return.

 

[Pa1nter]

A couple more before and after photos,