Recently, our Buyers Agent Euan Rose successfully negotiated the purchase of a low maintenance 3-bedroom, 1-bathroom brick home on behalf of first time Propertyology client Graham, for only $260,000.
During negotiations, Euan sensed that whilst the vendors were keen to sell, there was certainly a degree of hesitation. Further discussions revealed that the vendor was actually pregnant with twins and to date, had not been successful in securing their next family home. Clear thinking allowed Euan to raise the option of the vendors renting the property back and not having to move until such time as they were lucky enough to find their perfect family home. The vendors were extremely happy with this outcome and a rent back of $280 per week (5.6% yield) from the day of settlement was very appealing to our investor client Graham as well.
As with any transaction, immediately after negotiations were finalised, our team jumped into action to assist with all things due diligence. Including liaising with conveyancers, property managers and arranging the necessary building inspections. Whilst reviewing the associated reports for this particular property, it was noted that the local independent building inspector had made comments in respect of what appeared to be smoke damage from a previous fire at the property.
This alone could easily have caused a ‘DIY’ buyer to terminate the contract with no further questions asked. After obtaining additional information and determining that the fire damage noted was not structural or significant in nature, our Buyer’s Agent Euan Rose worked closely with our astute client, to consider all the available options. In the end, Euan was successful in negotiating a significant amount of work to be carried at the vendors expense prior to settlement.
Overall a fantastic result. Congratulations again Graham!