Anyone else go on stakeouts?

Discussion in 'The Buying & Selling Process' started by monty, 9th Jan, 2016.

Join Australia's most dynamic and respected property investment community
  1. monty

    monty Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    112
    Location:
    QLD
    I'm in the process of buying a PPOR. A couple of times I've found a property I'm interested in and go to a couple of open homes to check the place and then put an offer in. The RE says the offer is close to what they want but they want to wait another week or two to see if they can get better offers. So the following week I go to the open home but just park up the road to see what sort of traffic they get. The markets I'm looking in aren't that busy at the moment so it's possible no one will turn up. Anyone else ever go on stakeouts like this?
     
    Adele, Hanison, Bran and 2 others like this.
  2. LifesGood

    LifesGood Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    911
    Location:
    Perth WA
    No but that's a great idea.
     
  3. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,742
    Location:
    Sydney
    Feel free to present a signed contract along with a cheque for 10%... they may just take it.
     
  4. DaveM

    DaveM Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    3,761
    Location:
    Adelaide & Sydney
    Yes I try to go to opens towards the end to see what sort of numbers they had through during the inspection and see if I can sneak a look at the comments/buyer profile sheet.

    For a PPOR I would also stake out friday and sat nights 9-11pm for any noise problems
     
    legallyblonde likes this.
  5. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    "Anyone else go on stakeouts?"

    Are you a cop?

    I want to speak to my lawyer before answering.
     
    JacM, Hanison and JDP1 like this.
  6. monty

    monty Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    112
    Location:
    QLD
    I like the idea the the agent not knowing I was there. I can then ask them if they had much interest to see if they lie.
     
    Bran likes this.
  7. monty

    monty Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    112
    Location:
    QLD
    No but I do like doughnuts!
     
    legallyblonde likes this.
  8. JDP1

    JDP1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    4,244
    Location:
    Brisbane
    Stakeouts and general loitering the streets is what i have used in the past. Its quite useful- get to see what kind of people live in the neighborhood, traffic, community feel, etc..helps with a lot of tthe qualitative factors of buying/living somewhere.
     
  9. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,626
    Location:
    At work
    Yes
    I did a stake out of an open house a couple of weeks ago too, I had already been through and was keen to get it off the market pre-auction.
    I had @Steven Ryan on the line with minute-by-minute updates cause I'm sure he had nothing better to do ;)

    Unfortunately I parked a little bit too far away to see if they were carrying EOI forms and the like. (My car is a bit dodgy, I worry that someone will call the police).
     
  10. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,742
    Location:
    Sydney
    Hehe. When my brother in law was selling they got us to attend the open and to see what level of interest there was. Turns out... extremely strong with 22 offers after the first open.
    Made the street look extremely busy and crowded with cars parked everywhere....
     
  11. monty

    monty Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    112
    Location:
    QLD
    Luckily interest isn't that strong in the markets I am looking in. As a buyer I wouldn't bother do a stakeout if there were that many parties going through the opens. There are only two or three parties (if that) going through most opens I am attending.
     
  12. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    I go on steakouts all the time. Next best thing is take outs if you can't use the BBQ.

    Some areas are deceiving especially if near schools or popular parks.
     
  13. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,194
    Location:
    Melbourne, Australia
    Stake-outs are a necessary part of research. Done as a suburb-level thing or particular property.