How to buy unsold and over stock properties from developers?

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

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  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!
     
    Sell, 11th Jul, 2015
    #1
  2. twobobsworth

    twobobsworth Well-Known Member

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    Greece has some opportunities at present.
     
    twobobsworth, 11th Jul, 2015
    #2
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  3. OC1

    OC1 Well-Known Member

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    OC1, 11th Jul, 2015
    #3
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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.
     
    Westminster, 11th Jul, 2015
    #4
  5. Ace in the Hole

    Ace in the Hole Well-Known Member

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    How about Spain?
     
    Ace in the Hole, 11th Jul, 2015
    #5
  6. D.T.

    D.T. Specialist 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.
     
    D.T., 11th Jul, 2015
    #6
  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%.
     
    Genia, 11th Jul, 2015
    #7
  8. Chilliblue

    Chilliblue Well-Known Member

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    My thoughts as well
     
    Chilliblue, 11th Jul, 2015
    #8
  9. Hodge

    Hodge Well-Known Member

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    Hodge, 11th Jul, 2015
    #9
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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.
     
    Scott No Mates, 11th Jul, 2015
    #10
  11. mrdobalina

    mrdobalina Well-Known Member

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    there's more to life than working
    mrdobalina, 11th Jul, 2015
    #11
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  12. 380

    380 Well-Known Member

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    380, 14th Jul, 2015
    #12
  13. Pistonbroke

    Pistonbroke Well-Known Member

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    I just got redirected to Nathan's site. It must be random misdirection ;)
     
    Pistonbroke, 14th Jul, 2015
    #13
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  14. Gockie

    Gockie Life is good ☺️ 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)
     
    Gockie, 14th Jul, 2015
    #14
  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?
     
    jsoe000, 14th Jul, 2015
    #15
  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?
     
    PhoenixRise, 15th Jul, 2015
    #16
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  17. Arnel

    Arnel Well-Known Member

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    Hahahah
     
    Arnel, 15th Jul, 2015
    #17