Need advice on commercial property

Discussion in 'Commercial Property' started by Younginvestor2, 26th Dec, 2015.

Join Australia's most dynamic and respected property investment community
  1. Younginvestor2

    Younginvestor2 New Member

    26th Dec, 2015
    i am looking at purchasing a house in a commercial zone .Currently empty and previous use includes offices, residential.
    I plan to convert the house into medical consulting rooms for medical gp, chiropractor or physio etc. so I will need a permit.
    The house is for sale by expression of interest.
    My questions are
    1. How will you approach expression of interest sale. Should I put in an offer ASAP or wait till last minute before closing. My thinking is if I put in ASAP, I won't miss out just in case vendor decided to sell early. I also think of putting in last minute so the agent can't tell other clients what I offer. What would you do?
    2. Should I put in my very best offer or should I hold back so the agent might come back with a slightly higher figure that the vendor wants and negotiate with me.
    3. I am also going to engage a town planner to apply for permit. Should I engage the town planner now and hope the permit turns up before closing date or should I put in an offer subject to finance and permit approval and wait. If the vendor accepts my offer then I engage the town planner to apply for permit?
    Can Anyone with experience help to give some advice?
  2. Omnidragon

    Omnidragon Well-Known Member

    17th Oct, 2015
    Depends how hot this area is. I've lowballed in these situations before, the agent didn't even bother to notify me that it's been sold.

    If you really want it put your best price down.