QLD Camp Hill - Overland Flow

Discussion in 'Where to Buy' started by AnnaSophia, 7th Mar, 2020.

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  1. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    This is honestly difficult to answer and is different for everyone. It will depend on a few things.

    1. How much you want the property as a ppor
    2. What current comparables are in the area which are not affected by overland flow.
    3. The current state of the market and how long that property has been sitting.

    I'll give you a scenario how I would approach it, but keep in mind it will vary as we have different goals, expectations etc.

    Hypothetical scenario.
    Let's say it's been advertised for 500k, and comparables without overland flow approx 550k . It's been sitting on the market for 40 days. You ascertain from talking to the agent it's not going well ( you need to read between the lines of what they say).

    With overland flow and given the above, I'd probably offer around 415k and prepare to be blasted. That's perfectly normal. Once the agent stops berating you, tell him or her it's a serious offer and take it to their client. That gives you some room to negotiate. I'm not saying you should offer that. It's just how I'd go about it. But I'm looking at it purely from an IP pov and risk perspective.
     
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  2. Heinz57

    Heinz57 Well-Known Member

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    Paradise
    Quite high tides this week plus a rain event would have been a good time to check some overland flow areas
     
  3. AnnaSophia

    AnnaSophia Active Member

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    BRISBANE
    Sackie - thanks so much! This is incredibly helpful as you have succinctly identified the factors we really need to consider if we really want to purchase it. It helps to cut through the noise and focus us. Going to figure out the answers to all those questions tonight. It was listed on 25 Feb and apparently someone has made an offer that is good money wise but poor in terms of conditions. Agent has been politely pushy for us to make an offer but we need to get our head around it all. At least we know should the issue of overland flow come up in the future, we will be better informed and more equipped to make a decision more quickly.
     
  4. Greyghost

    Greyghost Well-Known Member

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    You do not want to be paying for the pool maintenance either.
    As the crow flys it is a good location - to the city, but actual location is like a backstreet to a sewer/canal. I live close by, either side close to Stanley - the train line has a not so pleasant feel to it. I am in Seven Hills. I like the Old Cleavland Rd precinct though. Has a gentrified vibe kicking off.
     
  5. DanVan

    DanVan Active Member

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    10th Feb, 2017
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    Location:
    Brisbane
    We're long term renters in a townhouse next suburb over (Coorparoo). The place we're in is flagged as overland flow, the building was good until 2011 floods but ever since then the building has moved slightly with each significant rain event. We do get flow through the yard, at most about 10cm of water buildup but it's reasonably substantial when it happens.

    On this block the external brickwork has cracked, there's cracking of the slab in our garage and what appears to be internal walls twisting. As well as an always damp yard.

    If it were my money, I wouldn't buy something similar.
     
  6. boganfromlogan

    boganfromlogan Well-Known Member

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    Location:
    Brisbane
    I do have a property with flood risk (not overland flow). I think the problem of overland flow is definitely a risk, but it is sooo different from a river flooding risk that you should view it differently and make your decisions accordingly. Overland flow may be a result of intense storms (famous in Brisbane) but not from the flooding river. So understanding the range of events that you are susceptible to is probably the key, paying the price you are comfortable with on account of the risk.

    Just now the risk of overland flow is negligible, and the risk of pandemic very high. Who knew?

    I am actually looking around norman park ATM so finding this post very interesting.

    Stay safe, don't touch your face or your super (in that order?).