Hi all,
I am in the process of buying my first investment property in the Parramatta area of Sydney. I contacted a guy (soon to be related) who acts as a buyers agent and is also an RE agent. After some weeks he comes up with a deal, house over 600sq m block only 2 bed for $360k he will act as my buyers agent. He tells me the RE agent has given him the OK to talk directly to the owner and sends me pics. The place is ROUGH and is rented at $280 (under rented). OK so no prob so far meet my criteria although I would try for a reduction for renos, I then do a search on the net and find he is the agent and the place was listed for $340k in Dec. 09. For some of the older hands what am I missing why is he lying to me?
1. Have prices gone up 20k in a couple of months or am I being seen as an easy mark.
2. My suspicious nature tells me he wants his RE agents commission and his buyers agent fee.
Marathon post I know but if anyone can open my eyes I would appreciate it.
I am in the process of buying my first investment property in the Parramatta area of Sydney. I contacted a guy (soon to be related) who acts as a buyers agent and is also an RE agent. After some weeks he comes up with a deal, house over 600sq m block only 2 bed for $360k he will act as my buyers agent. He tells me the RE agent has given him the OK to talk directly to the owner and sends me pics. The place is ROUGH and is rented at $280 (under rented). OK so no prob so far meet my criteria although I would try for a reduction for renos, I then do a search on the net and find he is the agent and the place was listed for $340k in Dec. 09. For some of the older hands what am I missing why is he lying to me?
1. Have prices gone up 20k in a couple of months or am I being seen as an easy mark.
2. My suspicious nature tells me he wants his RE agents commission and his buyers agent fee.
Marathon post I know but if anyone can open my eyes I would appreciate it.