QLD Brisbane South Middle Ring

Yep. Harder to buy in for investment was my point Some obscene houses there. But I prefer my little wooden antique

 

Ahh... didn't quite catch that point

Yeah have taken some overseas visitors / friends on a drive through the suburb to show them a few of those obscene houses

 

Have you bought your IP yet, @R377 ? Wondering what you ended up with

 

I wanted to buy weeks ago, having setbacks with paperwork and trying to refinance from AMP - I won't be buying for at least a few more weeks...ggggrrrrr

 

Strange one goes away for a while and you come back and just about every house that has been sold in the areas we invest in the past 2 months,all the houses have all been flattened just bare sites ,and these are not splitters just low sqm's sites,so if you do the numbers on the sold price,demo costs,then all the associated from the architecture costs upwards then the outlays will be above the one mill mark..imho..

 

Possible buyer beware on this property. It only just sat out of the floodzone.

24 Dew st, Runcorn.

http://www.realestate.com.au/property-house-qld-runcorn-120794605

My offer was accepted verbally, so i filled in all the paperwork as the buyer had agreed to it. I now find out they didn't sign off on it as their solicitor now advised them not accept an offer subject to building and pest !!! WTF who buys a house without an inspection.

Thinking back it sounded dodgey. The agent was so keen to ring me, as apparently the last contract fell through due to finance, then he tells me the owners only just got a building inspection. Why would you get a building inspection after you have already put your property on the market and got an offer ? Agent is Kelvin Lo: Coronis.

Sounds fishy ?

 

A couple of points here.

1. The vendor rejecting the offer because the offer is subject to BP is a bad sign. It means they might be hiding something. Walk away.

2. Whenever a previous offer falls through, 99% of the time agents claim that 'the finance fell through'. Even though alot of the time it would be a BP issue or some other issue not relating to finance.

3. The agent telling you there is no need for a BP because the vendor already done one is absolutely ridiculous. I don't care if Scott Cam did it. If the vendor paid for it, I don't want it. I'll do my own.

4. Final point. Can't remember where, but somewhere in one the Brizzy threads there is a warning to be very careful with dealing with that agency. I haven't dealt with them, but because someone else on this forum had a bad experience I'm just making you aware to be careful.

Edit- one more thing just to be aware of. Be careful buying too close to the flood boundaries. There have been situations where they have been adjusted and a property that was once out of the zone can then be in the zone. This will hurt value of the property and also insurance will skyrocket.

 

Sounds very fishy. And the flood map here. Looks like half of ot might be flooded



@York Polides I think the thread was about them requesting Credit Check before potential buyer can make an offer?

 

My experience with Brissy is agent always told me the contract fell due to finance but it actually could be huge termites issue. Finance issue is able to fix but termites can be very costly.

 

Yes it seems it was to do with credit check. It seems as well that it was the Springwood office that this member was mentioning. Not the Sunnybank one. My apologies for the mixup.

 

I have dealt with Kevin and he is OK. But BP inspection is not something negotiable. It is utterly important using your own. I guess BP report would say something very negative about this property.

 

sorry, I missed the point. What is credit check ? who checks who ?

 

Yes, they wanted me to do the credit check also.

Thinking back on the conversation he said at least 3 or 4 times that they have had a building and pest inspection (also termite barrier installed) so I didn't really have to worry about getting one....

 

The agency does a credit check on the buyer. Credit check is a log showing credit history for things such as mortgages, personal loans, credit cards etc. It is a way of checking if you have a history of meeting your obligations or not.

 

There is a detailed thread on Coronis on SS regarding them carrying out credit checks

 

Reminds me of the Amway model where you get the customers trying to prove they are good enough to be considered. If they asked that of me I would ask for their financials first and when they refused to give them tell them you feel much the same way about their requests- the *******. I wouldn't put up with such scutta from an agent and approach the vendor directly.

 

YES.
Also that location is very close to the Bradken factory.

 

There is absolutely no need for the agency to do this.

 

How would you get in touch with the vendor directly? I would assume the agents won't pass on their details. Are there other ways to get in contact?

 

Go to the Titles office and pay for a search, knock on front door or ask another agent to check RP Data.