Should I place an offer or wait (Stage 4 Restriction)

Whats the 25k grant if you can get 10% or more off asking?

The building grant is a grant to builders, not to buyers.

Understanding developer finance is key here. Do they need presales? How will stage 4 delay construction? What happens if its delayed? What you are not considering is what happens if the developer gets desperate.

it may not happen, but in this environment the chances are increasing.

 

This is an interesting this one here. In regards to 'presales' they said they don't need presales and will accept only 5% deposit when I discussed the property with them as they had 'sold' the first unit.

Loving your advice here Trainee!

 

When they say sold first unit, generally can mean developer will keep this, usually the best unit and sometimes sell it at end when others have sold. I use this strategy and know some developers who do the same

 

This is why you should not place an offer in current climate

Melb is or will be a basket case

Australia Home | Daily Mail Online

 

Thanks MTR. I think I will hold until Oct.

 

Wise decision

I think we will see further drops in rent, if you are a renter sit back and save

 

Told the REA I would wait until things settle. He replied that they may be snapped up once restrictions end. Told him, hopefully not but if it does so be it. He said think about it and that he would give me a call at the start of next week.

If he still wants me to place an offer and I think there is no interest, I might be tempted to put in an offer of 570k and see from there or just hold.

Thought I would let you guys know!

 

dont get tempted to do this. What you think is a bargain today could be a mistake tomorrow.

 

Today the 4/8/2020 in victoria when the industries can and cannot open were announced it was chaotic . Asked the building inspector if he can do a pre purchase inspection after the restrictions come in to effect on the 6-8-2020 .He said he cannot be sure and he cannot give me a definite. I then rang the estate agent and ,he advised put in the offer ,subject to a building inspection.Too risky and so I decided to wait until the dust is settled and hopefully bargains in the future

 

Way too much risk
If Melb does not get this under control who knows what will happen, other than further economic turmoil