Andrew

Andrew being a First-time buyer, was nervous out assessing properties and understanding their price point. Having spent a little time himself looking unsuccessfully for his first home, he then contacted Property Advocate, Michael Kimbel to help him with his journey.

Michael was able to understand what Andrew was looking for in a property and where that property might be located. Several properties were assessed and inspected before finding the “right” property.

Unfortunately we missed out on the property at auction as it exceeded our assessment of value. However, due to a strong Agent relationship, the Sales Agent provided us with exclusive access to another property in the same complex with the same floor plan.

We were able to negotiate exclusively on this second option and secured a purchase for $17,000 less than the same property obtained at auction.

BRIEF

First Home Owner – Andrew wanted to purchase his first property, which would be an apartment. The requirement was for a property that was likely to provide capital growth with low Owners Corporation fees. The property needed to be within a small complex of apartments and not have cladding concerns.

Our selected property met the brief perfectly. Having exclusive access to the property enabled us to negotiate without competition. Purchasing the property within budget and $17,000 below a very comparable sale in the same complex just weeks earlier.

OUTCOME

Purchased:         Off market, under asking price.

Secured:             Private sale with no other competition, $17,000 below a comparable property in the same complex.

Identified:           No issues. Vacant possession. 

Settlement outcome: Settled

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