NSW Dead man on the lawn

im not too sure about that unless you meant primary and secondary but either way hope you can (either today or whenever you decide to build)

 

Congrats on the purchase.

On a side note, did you know that it had the death issue prior to looking at the place? Or was it only disclosed once you spent some time looking?

 

I was looking at a property for investment for my daughter. It was an auction. When I go to an auction I quickly research every property that is going up that day that may also be of interest. I did a quick inspection at open home (properties are 20mins apart) asked the price bracket. The agent said it was low due to the special disclosure condition. I thought it would suit my wife’s investment company and was the only bidder. 3 others sold in the street as asbestos cement knock downs on much smaller blocks this year. This was a bv and the market has definitely risen 10% plus from its lows. I was not told until I questioned the price guide. It was written as a special condition in the contract and must be noted in future sales up to 5 years after the incident ie March 2024. A bv is worth $50-$100 k more than the old ac sheeting houses. I only enquired as I was bidding on behalf of miss cartart jnr(being posted to Asia for 2-4 years) she’s quite tiny so will fit in a padded bag.
Mrs Cartart is expanding her own private portfolio after selling her PPOR (only married 11 months ago) and this would fit well.

 

It certainly seemed like a good deal.

I was just trying to find out if there is any way to perhaps easily locate properties that have this special disclosure.

It would appear that it could be another strategy. I.e buy and hold for 5 years - but it seems like t might not be easy to do...

 

Yes it would be a great strategy. But agents dont publicise, as it would be in bad taste. This was purely an accident and not something that research could teach you unless you read every auction contract for every property for sale in NSW.

 

The land value determined by the Valuer General is not always correct, I specialise in this field/dept. and the LV are 99% conservative. Note the 2018 BD for the subject was assessed at $335k... $100k for the imp? lol, which confirms my statement...

56 Enfield Avenue North Richmond, NSW, 2754 sold for $455k, dated/original condition but very habitable and lettable.. your purchase of $445k in my eyes represents the market with no discount. If you purchased low $400-425k I'd agree you got an 'ok' deal.

 

@Car tart If you have plans on acquiring more ex housing dept houses, do note there is a lot tipped to enter the market..

Pretty sure there was a newspaper article about housing dept assets to be sold, to date I think $330m was offloaded this year...