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How to buy unsold and over stock properties from developers?

Discussion in 'Where to Buy' started by Sell, 11th Jul, 2015.

  1. Sell

    Sell New Member

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    How to buy unsold and over stock properties from developers?

    I am looking for below market value property and potential high yield.

    Please help!
     
  2. twobobsworth

    twobobsworth Well-Known Member

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    Greece has some opportunities at present.
     
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  3. OC1

    OC1 Well-Known Member

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  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Look at areas with high number of listings that are over 60 days and make plenty x 100 cheeky offers.
     
  5. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    How about Spain?
     
  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    Not sure why you'd want to.
    If it's over stock chances are there's a glut of supply, big indicator of property i'd not want to buy.
     
  7. Genia

    Genia Member

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    In 2006 I was looking for a house for myself. I was very naive and sincere and direct. There was a brand new townhouse that fit my criteria, but I kept giving the honest feedback, that I really like it, but it is a too small for that price. Eventually they dropped the price by 12%.
     
  8. Chilliblue

    Chilliblue Well-Known Member

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    My thoughts as well
     
  9. Hodge

    Hodge Well-Known Member

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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    You'd have to purchase well under market or hold for a long time to recoup your outlay on a newly built property.
     
  11. mrdobalina

    mrdobalina Well-Known Member

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    sumterrence and OC1 like this.
  12. Be Developer

    Be Developer Property Developer Business Member

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  13. Pistonbroke

    Pistonbroke Well-Known Member

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    I just got redirected to Nathan's site. It must be random misdirection ;)
     
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  14. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Its possible. I have friends who bought the last unit in a small complex, wentworthville area maybe 3 years ago. The developer was just keen to see it go. So my friends paid about 30k less than the other owners in the complex (of 6 I think) and got the best unit (top floor, best views, most daylight).

    The tip is to either buy very early (developer needs to secure bank funding) or very late (developer just wants to get rid of it)
     
  15. jsoe000

    jsoe000 Well-Known Member

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    easy guys.

    A friend of mine bought a discounted 2 bed unit form a bankrupt developer. It was a bank repossessed job. She paid about $80k less than market price. In North Ryde, Sydney. Of course she had to go through major meticulous checks with lawyers about contracts, engineers reports, etc to make sure the developer didn't skim on any steel / concrete during the build. The whole building met Aus Building Standard. She's laughing all the way now.

    They are very rare find. Not sure if there is a court house you can hang around and get a list of bankrupt or deceased estates to get a bargin?
     
  16. PhoenixRise

    PhoenixRise Member

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    We develop units in Perth and once in a while we sell some of our units off for below market just to move onto the next project. Would you consider buying units in Perth?
     
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  17. Arnel

    Arnel Well-Known Member

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    Hahahah