Tomorrow I’m attending an auction for a far western Sydney ex-houso 700m block with early 1970s 3 bed bv. Contract says that in March a man was shot dead on the lawn and was pronounced dead when he arrived at Windsor hospital. How much deduction would I allow on bidding. I’m thinking 20% below land value. I’m not adding anything on for the house. the house needs about $30,000 to make it comfortable inside.
So he didn't die on site, that's a win Still, got to wonder if that is the sort of area you want to buy in Sure, based on your history it is for investment only. Sure, 20% below market, but aim for 30% below You already know what you are doing cartart
Will you have to disclose it when you rent/sell it again? I suppose it will come down to, is violence like that likely to happen again as well as @Stoffo alluded to. You might not want that kind of tenant or revolving door due to tenants leaving if the area if that rough and they don't want to be there. If it's not so rough then yeah I'd give it a hair cut on value but some one might have no issue with it and simply believe that the blood is a nice form of iron for the grass.
Not the guy that shot up the police stations at Penrith and St Marys recently is it ? Probably been a few shootings over the years. May not be the same discount given the area - but still compulsory to declare.
Strangely it’s a really nice area, I think the violence is a one off. I was buying to rent for a few years then knock down and build a duplex to lease to the DHA.
I also help with my wife’s and two of my 4 kids investment companies. But I didn’t think it was worth mentioning the fine print. My wife and I keep our investments separate. Only the family home is in both names so that the remaining partner would not be left homeless on the passing of the other.
Disclosing is all in the details So a bloke was shot, and pronounced dead at hospital So, did he die on the front lawn, in an ambulance or shortly after arriving at hospital ? A purchase like this wouldn't worry me at all, as there is now a reduced chance of it happening again *unless it was in Summer Bay, then I'd run
It probably comes under the definition of a Material Fact, which has its outworking to be down to disclosing to prospective purchasers and tenants, if the property has been the subject of a violent crime, in the last 5 years. So as time goes on, it has less and less impact (and even now, possibly zero impact on price).
Well I (on behalf of Mrs Cartart) was the only registered bidder. I bid what the auctioneer told me. He then told me it was too low. The agent said the reserve was $455. I said I can only pay $440. A quick phone call later and I exchanged on a three bed bv for $445k. 68 Enfield Avenue, North Richmond, NSW 2754 68 Enfield Avenue, North Richmond, NSW 2754
Should be $550 so about 20% off. Not many houses or blocks of land in this area for sale but well and truly the cheapest.
Hey @Car tart great buy but are you able to build a duplex on that block ( I believe hawksbury council does not allow on r2 blocks) also notsure what your intentions were but it wasn't hard to find which property you were talking about when its western Syd + auctions on Wednesday
You can build dual housing pretty much anywhere. It can’t be subdivided on R2 land in Hawkesbury. Miss Cartart jnr bought the other auction in Bosworth St. 550 sq Mt two storey in the centre of town, zoned medium density. Paid $560k, she’s in a bit of a hurry as off to conquer Asia for the next few years in January, this is her 4th investment at age 31.
Not me. I can’t swim. So my 4 offspring have planned to scatter my ashes at a drunken party off my ex wifes yacht at sea. They can’t stop laughing at the irony of it. My ex bought a Brand New 6 berth ocean racer with part of the divorce settlement, so it’s a fitting tribute!
