You can offer anything you want, they still have to take it to the vendor.
They may counter it (higher), so I think it's good to come in lower than comparable sales, then it's easier to meet in the middle.
The Ad says "offers over 299k"... Should I offer less?
- Thread starter Mike8t1
- Start date
You can offer anything you want, they still have to take it to the vendor.
They may counter it (higher), so I think it's good to come in lower than comparable sales, then it's easier to meet in the middle.
Hi Michael
IMO "offer over x" is pretty basic question although you said you bought 4 props through BA in the past. Surely discussion about a lot of topics (including comes complex ones) should have happened between you and BA, did they? It kind of indicates may be you are not ready to buy it yourself especially interstate. How do you know the RC area suits you and what things to consider etc? Educating yourself should be priority and use a good BA again at least one more time and use it as a course to learn a lot about IP selection, pricing and bargaining.
You have got to start somewhere i guess! Also this is why i ask questions of like minded and more experienced investors like you guys.
Thanks for the feedback
Michael
Of course. Just expect a no. So what. You can always revise your offer later. You don't have to say why. Just say you believe its a fair offer for the property in todays market. How much more might you pay? Nothing at this time. Your offer is your offer at this time and you have other properties in mind. Don't get into discussion about what you are looking for. This is about that one property.
You may be immediately told to forget it. Just see it as the opportunity to commence a discussion and be open to a two way discussion about a fair price. Just as you might not want to pay $2K more the vendor may want $15K more. Find out what the vendor wants - Extended settlement ? That may work. Do you have approved finance...Others may be reliant on a sale. Use it learn about your chances. If agents tells you that five others have offered same price and all knocked back but a very reluctant seller wants $15K more and wont budge you will know more when you walk away.
You may be immediately told to forget it. Just see it as the opportunity to commence a discussion and be open to a two way discussion about a fair price. Just as you might not want to pay $2K more the vendor may want $15K more. Find out what the vendor wants - Extended settlement ? That may work. Do you have approved finance...Others may be reliant on a sale. Use it learn about your chances. If agents tells you that five others have offered same price and all knocked back but a very reluctant seller wants $15K more and wont budge you will know more when you walk away.
If you are referring to pre-approval, I would of thought you might be a bit more wary as it means you can service a loan that big not buy any property at that amount.
Only way you don't need finance would be if you have the cash sitting in the back (in offsets or what not).
Still waiting Dan on this suburbs, I tried to help another user by providing facts and referencing but still said to look at comparable properties as a cross check. However you make a statement without backing up the fact of which suburb in Brisbane hasn't grown at all in the last 5 years.
So where are these magical suburbs?
Hi Will,
I didn't think I needed to be explicit, the data is out there, and I don't want to tip off the areas, it's not like the share market where we need to trade hot tips
. One has to do their own research and decide if it fits their strategy.
Brisbane's not the only capital city, there are lots of suburbs in several cities that have areas like this.
In Adelaide's northern suburbs there are examples too - although those suburbs have already started their upward movement. There is a thread on here about the northern suburbs elizabeth etc but I think it's too late for them.. and their quality is not too good IMO.
A better example in Adelaide's southern suburbs. 10 years ago they grew 60% over a 6 year period, then went flat for the last 4 years. E.g. Hackham, Hackham West, Huntfield Heights, Christie Downs, Morphett Vale, etc. I would post the chart but RP data copyright.. but you can find on other sites too.
Disclosure that I own 4 properties in Adelaide, as I could be hyping the market by mentioning it so don't rush down and buy there I purchased for high rental yield, so I don't expect short term capital growth anyway, but because of the stage of the cycle I think it's safe to say I didn't pay too much.
But that's just one example.
There are also examples in Brisbane, but I'm superstitious and not going to point to what I'm buying until I'm finished there. I don't want the suburb to be indexed by search engine just in case, probably won't make a difference but who knows, and this area has been mentioned enough already to be honest - you will discover the area if you search enough. It's no secret there are people buying in this area from interstate.
Even other cities - I reckon someone on here has investigated and found this pattern in some other capital city suburbs as well.
Really it's Sydney and Melbourne that have had their crazy recent booms, the other capital cities are on their own cycle.
I didn't think I needed to be explicit, the data is out there, and I don't want to tip off the areas, it's not like the share market where we need to trade hot tips
. One has to do their own research and decide if it fits their strategy. Brisbane's not the only capital city, there are lots of suburbs in several cities that have areas like this.
In Adelaide's northern suburbs there are examples too - although those suburbs have already started their upward movement. There is a thread on here about the northern suburbs elizabeth etc but I think it's too late for them.. and their quality is not too good IMO.
A better example in Adelaide's southern suburbs. 10 years ago they grew 60% over a 6 year period, then went flat for the last 4 years. E.g. Hackham, Hackham West, Huntfield Heights, Christie Downs, Morphett Vale, etc. I would post the chart but RP data copyright.. but you can find on other sites too.
Disclosure that I own 4 properties in Adelaide, as I could be hyping the market by mentioning it so don't rush down and buy there
I purchased for high rental yield, so I don't expect short term capital growth anyway, but because of the stage of the cycle I think it's safe to say I didn't pay too much.But that's just one example.
There are also examples in Brisbane, but I'm superstitious and not going to point to what I'm buying until I'm finished there. I don't want the suburb to be indexed by search engine just in case, probably won't make a difference but who knows, and this area has been mentioned enough already to be honest - you will discover the area if you search enough. It's no secret there are people buying in this area from interstate.
Even other cities - I reckon someone on here has investigated and found this pattern in some other capital city suburbs as well.
Really it's Sydney and Melbourne that have had their crazy recent booms, the other capital cities are on their own cycle.
