to buy at land value

[mikezen]

hi there

so i have found a house listed for 220 in a good position but in relation to comparable properties for sale at similair prices, its obvious the reason it hasnt sold

has been on the market for a looong time and im thinking it would be a good steal if i could get it at land value as the house is not "really" that habitable and i want it for free

so i purchased the land value notice and it came in 108k which would certainly be a low ball if i made the offer


there isnt really a comparable sale in the area, but one house that was listed for 360 a year ago has been sold for 220 in a better position with a habitable house

1,how can i get this house for 108? should i just send in the contract with a cheque attached and the copy of the land val notice?

thanks in advance

 

[tobe]

Yes, that most definately will work. If the vendor accepts the offer.

Alternatively you could use any number of documents to support your offer, or none at all. Some methods might work on some vendors, others wont. Some vendors need to sell, others want to sell at their price only.

 

[HD_ACE]

If its been on the market a long time with no price decrease then i would say the vendor isn't really in a position to need to sell.

But you can always try your luck?

Cheers

 

[RightValue]

The land value notice may not be accurate, nor may it be an accurate analysis of the distribution of the value of the property between land and improvements.

What are the other properties like in terms of dwellings and similar land sizes?

For example in a Melbourne suburb, two properties next door to each other have sold.

Both are 766sqm

One sold for $901k,, the other one sold for $888k.

The $901k was vacant land the cheaper one had a perfectly good 3 bedroom house upon it. The reality is that the house has negative value to the land but I am sure it is not reflected thus in the government valuation.