NSW Newcastle 2021

Not sure to be honest, pretty scummy if you ask me. Darren Penn and Andrew Dinnen.

 

It may have simply been a case of first past the post with the money and exchange

 

Yes probably. My offer was accepted already and I had confirmed I was in the process of exchanging (literally walking to the bank with the signed contract in hand). Or is that perfectly fine?

 

Suspect, when the market's hot all courtesy goes out the window. I've been on the winning (and losing) end of this sort of behavior in the past several decades

 

What was the offer if you don't mind me asking ?

 

I typically use a Bank Cheque with my deposit attached to my signed contract which I personally deliver so there is nothing else the agent can say when it’s in their hand and you look them in the eye.

But agree that you have got to move really fast in a very hot market from my experience.

 

Yep all fair enough
The fact that the other offer was the same as mine is puzzling. And the agent knew I was physically walking to the bank to make the instant transfer. No ethics in this game.
It was $875k. Decent value for that property.

 

The joint down the road struggled to sell for significantly less, that seems steep. I guess if there was a plan to develop it makes it a better deal though ? Is developing that block a certainty ? Was it that big ?

 

Place down the road was a dive. And the driveway was not usable. Twas a certainty yes.

 

I guess if the numbers worked and it was a certain yes, very disappointing for you mate, that sucks. I have found that agent to be friendly, but here it does sound like he really led you on.

 

Are you sure the terms were exactly the same mate? The other offer might have been all cash, no finance required, settlement in 30/60 days for the same $ would might have been superior.

Just putting it out there. I know a developer friend that recently bought another investment property that was all-cash and bought off-market 800k.

$700-800-900k isn't a lot to some people, its basically 3-4 yrs of resi and commercial rental income if you have a reasonable number of IPs and no debt.

 

Or latest was won because we agreed to early release of deposit (vendor wanted to exchange on another property) ... details matter

 

Yep, agent told me all the details and said same conditions, same price, I even gave them the early release of deposit option. Subject to nothing, waived the 66w.
Anyway I didnt have an emotional attachment to it, just found it odd.
On to the next - BTW I think the area of Hamilton around the Bennet hotel is great value at the moment. Keen to see the auction on saturday for this:
3 Veda Street, Hamilton, NSW 2303 - House for Sale - realestate.com.au
I also think the low laying areas of merewether are good value - whereas the outskirts of Newcastle are going crazy E.G. the 900k sale at Cardiff!?

 

Seems like those areas around The Bennett ie Everton Street, Steel Street, Veda Street seem to be tightly held. Maybe because of the walkability/convenience to Beaumont Street and Gregson Park, stroll to Hamilton Public School for families?

Ultra-convenient when you have multiple pubs and cafes all around you, you dont need to drive and can walk to everything you desire. You certainly can't do that in Merewether

There have been some big $ sales in that area of Hamilton in the past. Who knows they would be worth now. Maybe closer to $3m?

Sold 193 Denison Street, Hamilton NSW 2303 on 20 Aug 2016 - 2012958608 | Domain

 

Hi Everyone,
Just found this forum and I am new here. What's your thought on this one.
https://www.realestate.com.au/property-house-nsw-hamilton-135842066

There is no garage and it's not possible to reverse park the vehicle in front of the house. Also it is a 2 bed room unit with a media room in the top. I assume it's priced a little bit higher

 

Think you posted the wrong link mate.

 

Its the same house I meant.

Had a look at this house and they converted the garage in to living area. So no garage parking. Also one one room advertised is like a media room with no door. But overall the house is quite new and looks alright.

 

I see! Didn’t look closely enough sorry. Personally hate the place & the guide is weirdly high for what it is - am I missing something?

 

Why do you say so? I think we have access to everything because Beaumont Street is close. I know there are few issues with flooding in that area. But not quite sure about this. Thanks anyway

 

Yep good spot but still think that place would have a fair bit of demand. All relative but I'm not exactly sure you will pick up a bargain there.