+ Reply to Thread
Results 1 to 5 of 5
  1. #1
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,347
    Thanks
    336
    Thanked
    2,202
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts

    Default Property developers

    Has anyone ever dealt with one etc??

    I rang a real estate agent yesterday about prices of blocks in our area. I've been thinking about selling.. Eg subdividing and selling off. Then towards end of our convo he said he had a developer who would be interested in our whole house and I could buy back a block if I wanted too?

    Does this sound shonky :/

    Or does this happen all the time!

    It would save us heaps money. But then I don't want get taken for a ride. Thanks heaps ๐Ÿ˜

  2. #2
    Join Date
    Mar 2015
    Posts
    3,965
    Thanks
    706
    Thanked
    2,303
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Property Developers *shudder*.

    There are ok ones or evil ones.

    Basically they are there to make a profit so I would not assume it is a good deal. Depending on the area, the council regulations re: building/subdividing/housing density will determine the resale prices later - which could mean a block/house will be more expensive after. Also, it could be townhouses/units etc.

    If they want to give you a serious offer then look into it. But do not feel pressured to sell and then buy at the same place.

  3. #3
    Join Date
    Jul 2010
    Posts
    10,318
    Thanks
    3,127
    Thanked
    6,323
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Happens all the time , we have many older owners on big blocks who want to stay in their street but can't afford to develop their own blocks so the builders buy their land but as payment give them a new villa and cash up to the value of the land (eg: if the block is worth $2 million and a new villa is $1 million they give her 1 villa plus $1 million cash - they save on initial land purchase and she gets to stay on her block with a brand new villa of her choice)

    You would just make sure you get your property valued by an independent valuer to make sure your getting a fair deal

  4. #4
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,347
    Thanks
    336
    Thanked
    2,202
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Quote Originally Posted by Elijahs Mum View Post
    Happens all the time , we have many older owners on big blocks who want to stay in their street but can't afford to develop their own blocks so the builders buy their land but as payment give them a new villa and cash up to the value of the land (eg: if the block is worth $2 million and a new villa is $1 million they give her 1 villa plus $1 million cash - they save on initial land purchase and she gets to stay on her block with a brand new villa of her choice)

    You would just make sure you get your property valued by an independent valuer to make sure your getting a fair deal
    Yes I know about valuation as I had to do that for my house as I did it privately. What about the documents? Is there proper real estate lawyers?

    The only reason I want to retain in area is because it's eventually going to still boom as people can't afford the city but if we don't it doesn't matter.

  5. #5
    Join Date
    Jul 2010
    Posts
    10,318
    Thanks
    3,127
    Thanked
    6,323
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Your solicitor will draw up the documents and the developers solicitor will liase with them if they want any changes but ultimately your in control of it all as its your contract so you will be covered legally


 

Similar Threads

  1. Vacating a property
    By ProudMumma34 in forum General Chat
    Replies: 5
    Last Post: 25-10-2015, 15:14
  2. WWYD -Property Question
    By A-Squared in forum General Chat
    Replies: 45
    Last Post: 08-08-2015, 21:42
  3. Tell me about your investment property?
    By bigmummahen in forum General Chat
    Replies: 7
    Last Post: 21-06-2015, 22:57

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Softmats
With so many amazing reversible designs, the soft and cushioned Premium Bubba Mats are the perfect space for all the family. Not only do they look fantastic; you can also enjoy the quality and comfort for years to come.
sales & new stuffsee all
Bub Hub Sales Listing
HAVING A SALE? Let parents know about it with a Bub Hub Sales listing. Listings are featured on our well trafficked Sales Page + selected randomly to appear on EVERY page
featured supporter
Sudocrem / Infacol
Sudocremยฎ Healing Cream is a soothing emollient cream which aids and assists in the management of nappy rash, eczema, abrasions, wounds and minor skin irritations. Infacol Wind Drops are an effective method of treating wind in infants.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!