Unit 10km from Melbourne CBD

[Aussie Battler]

Hi, just after some help.
I'm about to put an offer on a one bedder that 11km from Melbourne CBD
It's my first buy and it's asking between $190-210k
Just wondering what a decent price I should offer is on it?
195k?

The other thing is how best do I deal with the Agent?
he tells me the owner is interstate for the week. Hmmmmmm?
Should I sign his contract note?
What conditions should I put on it?
Is using a Conveyencer ok?
I have my pre-Approval with the ANZ bank.
The property has only been listed for 2 weeks

The other thing is i'd like to live in this property for the first year as its near my work and i can get the first home buyers grant then move home to Mum and Dads and put tennents in the unit. Then in another 2-3yrs buy another. Does this complicate things to much with tax and what type of loan I should be looking for?

Any advice would be much appreciated!!!!

Thanks

AB

 

[The_Bludger]

Offer $170K and take it from there. The market is flat at the moment... The ball is in your court.

 

[didakdelight]

Re;

What suburb is it in?

You cant go wrong offering less.
Let them know its for an investment and dont talk about living in it.

Take the emotion out of it.

 

[vbplease]

How many other apartments have you been to look at? You should really look at as many places as you can, so you can easily put a price to a property.. try to know even more than the agent.
It could be a bit dangerous blindly putting an offer on a place and not knowing if its a good deal?

 

[Peter_Tersteeg]

email me an address and I'll order a Residex report for you (no charge for this). It's not the only factor to consider when valuing a property, but it does help.

 

[Project M]

email me an address and I'll order a Residex report for you (no charge for this). It's not the only factor to consider when valuing a property, but it does help.

Don't mean to hijack the thread. I have a property to consider and just wondering whether you could order a Residex report for it? By the way, how do you get a timed access for Residex if it is not by report? Thanks

 

[the_captain]

How Accurate is the data in a Victorian based Residex report post our now not so new privacy laws?

 

[Aussie Battler]

Thanks guys! Why don't mention living in the property?

 

[Aussie Battler]

I told the Agent that i'd offer $195k

He was supposed to bring the section 32 to the inspection but forgot.
Now i'm calling him to email it and he said he will but he is really busy at the moment. Sounds strange...
I said if the owner is open to my offer I will put it into writting tomorrow and he recons he can't get hold of him because he is in a conference interstate.

Now he recons someone came down 1/2hr after me and offered $205k

I said well my offer stands at $195k let me know what the owner thinks! Gee wizz

 

[NorwegianBlue]

I told the Agent that i'd offer $195k

...

Now he recons someone came down 1/2hr after me and offered $205k

Geez - they're not usually that obvious.

 

[pawprints]

I am in the same boat.

By the way guys, what does a residex report show? Recent sales in the area? Is it free?

My answers are below

Hi, just after some help.
I'm about to put an offer on a one bedder that 11km from Melbourne CBD
It's my first buy and it's asking between $190-210k
Just wondering what a decent price I should offer is on it?
195k?

The other thing is how best do I deal with the Agent? Up front and to the point, don't fall for any tricks.
he tells me the owner is interstate for the week. Hmmmmmm?
Should I sign his contract note? If you put in a written offer, you sign a contract note and place your conditions on it. If the offer is accepted, the vendor signs the contract note and it becomes binding.
What conditions should I put on it? Put subject to finance at the very least. Yes you have pre-approval but that is just for the amount you wish to borrow. The lender still has to the value the property against the laon to lend you what you need.
Is using a Conveyencer ok?Yes provided nothing really 'legal' goes wrong, straight forward purchase.
I have my pre-Approval with the ANZ bank.
The property has only been listed for 2 weeks

The other thing is i'd like to live in this property for the first year as its near my work and i can get the first home buyers grant then move home to Mum and Dads and put tennents in the unit. Then in another 2-3yrs buy another. Does this complicate things to much with tax and what type of loan I should be looking for?

Any advice would be much appreciated!!!!

Thanks

AB