Any crazy things you might have done from the past to purchase a property

Majority of mine have been like this. I consider it powerful negotiations

 

How does no finance clause work? As in what happens if you don't have a "pending finance" and you can't get the $$? Guessing you're either in deep sh** or this only an option for cash buyers?

 

I discuss with my broker beforehand; I knew there's a 100% chance of getting finance.

 

I slept at an agents office one time (with a group of other buyers) as part of a queue lining up the day before for a land estate release. The prices for the blocks weren't released until early the following morning. All were sold before 10am or so.

 

I was told that once.
Finance didn't go through.
Not sure if there's such a thing anymore.

 

Perhaps find a broker you can trust, then

 

Love it!

 

Heres a couple of my crazy purchases.

2004 - Clarkson WA. Didn't have enough income ($27K pa) to purchase so my friend loaned me $7000 toward my deposit and i included rental appraisal income in the loan application. When I settled I moved into the property, applied for the FHOG ($7K) and paid my friend back.

2014 - Elizabeth SA. Didn't have enough funds in the account to complete because of a settlement rescheduling so conveyancer covered my shortfall and i repaid him the following week.

Sight unseen for all except 2-3 I think.

 

I have purchased site unseen for all my properties in Melb, Syd, Qld and USA.

One negative experience, property required substantial work, a money pit, I offloaded this one 18 months ago, ouch

 

Yeah...

 

Having RE agent turn up at 9:30pm to try and get me to sign on a contract on my current PPOR, so yeah it worked. Plus we had a beer at the bar in the hotel during the conversation... he was keen to get the sale moving I had to hand it to him.

 

Then claim its an invalid contract as intoxicated?

 

I've bought the same property 3 times.

First time was in 2002... Prices were moving quickly and I didn't have a deposit. My mum bought the house in her name secured against her ppor... I paid everything though.

12 months later I bought it off my mum, using the equity gain as deposit. sold it in 2005.

My mum died in 2010 and I received a small amount of money .. Enough for a deposit on an ip. My house came back on the market about the same time. Initially I just went for a sticky beak. I watched it stay on the market for about 2 months and then decided to put in a low ball offer which was accepted. So my mum helped me buy it again.

I am sentimentally attached to this one.. And I know that's wrong for an investment, but the numbers work ok too.