buyers advocate comments:
My client is a VERY detailed person and extremely cautious, so it was important to provide a high level of information in the lead up, and throughout our engagement on each property that fitted the criteria along with constant communication, sometimes late at night.
The client was looking for either a property that had room to either add a granny flat or a second dwelling or something ready made up to a budget of $1.4m in a location that has had consistent healthy growth & will continue to do so along with providing a healthy rent in an area with a low rental vacancy rate.
I am over the moon to have been able to find a ready-made dual income house + attached dwelling on a corner block in a desirable location within Newcastle that does not require any renovation or any additional construction costs & these two properties will have a high number of rental applications when advertising for tenants commences.
I viewed the property on a Saturday morning, and was able to gain earlier access before other buyers & this allowed me to complete appraisal reports quickly, gather all information such as approvals, fire wall details & other relevant important information around the approvals & construction plus forward videos to my client along with having the contract reviewed on a SUNDAY with my preferred solicitor who works after hours for my clients, which is extremely rare.
As I had moved super efficiently & the selling Agent loved this & was on board to work with us, due to long standing trust, coupled with being able to move lightning fast & provide an advantageous speedy settlement, this gave my client success at a lower-than-expected price. If we had left it for a few days, we would have been competing against more buyers & effectively getting into a negotiation/bidding war with other buyers.
We appraised the property between $1.4m to $1.5m and were able to negotiate to a price of $1.34m as long as we could exchange contracts within 24 x hours from offer & acceptance & co-ordinate a settlement prior to Christmas in 28 x days, hence we utilised “timing” as leverage & affectively saved our client anywhere from $60k to $160k as the vendors were motivated and preferred to work with us over other buyers who required longer settlements, so we have saved our clients anywhere from 5 x times to 10 x times our fee in this transaction.
This property will also provide my clients with a cash positive property and not have to spend unknown money on renovations or updates as it is ready for tenants to move straight in.
A fantastic outcome!
Kevin Mason
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