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Anyone Bought a surpluss house from DHA?

Discussion in 'General Property Chat' started by hammer, 10th Jun, 2016.

  1. hammer

    hammer Well-Known Member

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    Darwin
    Thinking about buying an old house that DHA is getting rid of.
    It's a house that has gone through the DHA mill and is now "surplus to requirements". Built in the early 90's.

    I'm hoping that this presents an opportunity to buy below market value. DHA should have looked after it well and now they "just want it gone"....

    It's through an agent.

    Anyone else out there done this?
     
  2. wombat777

    wombat777 Well-Known Member Premium Member

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    Carefully look at location. Is it easy to get to and close to amenities such as shops/schools/transport. Sometimes DHA properties can be in the far-reaches of suburbs.

    I understand DHA may repaint/recarpet a house at the end of tenure. Worthwhile checking if this has been done.
     
  3. dabbler

    dabbler Well-Known Member

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    I looked at some a while back in a normal market, don't kid yourself, they won't be giving anything away, in fact they held silent auctions on the ones I looked at and was same as just buying normal but without the BS where agent get's to play you all off each other.
     
  4. wombat777

    wombat777 Well-Known Member Premium Member

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    My first play into property investment was to try and buy an on-lease property with 7 years remaining. This was in Brassall in approx April last year. Vendor had tried to sell it a number of times and was having trouble getting more than they paid for it. I low-balled, they countered with the original selling price, I lifted my offer slightly. In the end I just gave up and decided to buy in a better location for investment.
     
  5. Jasmine

    Jasmine Well-Known Member

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    It baffles my mind that people are so adamant that they have to sell for above the price that they purchased a property. In this case, they received years of rental income, and the benefits of negative gearing. It is as if people can only comprehend a buying and selling price, and the later should outweigh the former. Every investment is not a sure thing. Is this a physiological thing? Furthermore, it seems like the owner wanted out of this investment even through it still had years left on the clock. There is nothing wrong with a seller wanting to wait to for the best conditions in their favor. BUT, they would wait BEFORE becoming a seller and placing their stock on the market.
     
    wombat777 likes this.
  6. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    DHA will help the owner market a property for sale. Its possibly a prop that is hard to sell...overvalued even.
     
  7. melbournian

    melbournian Well-Known Member

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    Sometimes going for these sales tends to increase the price in auction. i saw ones sold just recently in heidelberg heights and bellfield sold through an agent through DHS which is more than what others are selling.
    Sold Price for 19 Collins Street Heidelberg Heights Vic 3081
    Sold Price for 8 Erica Court Bellfield Vic 3081

    Also in port melbourne though not through DHS. 340 Howe Parade Port Melbourne Vic 3207 -nearly a mil. Sold Price for 340 Howe Parade Port Melbourne Vic 3207