Op I'm sorry it looks like its not working out as planned just remember smart investors didn't get rich by playing nice guy. It's a business and emotions don't get involved. He's seen this as an opportunity to make some serious $$ as he knows you're emotionally involved. To him it's a win win, you buy and he makes a nice profit to reinvest ( as prices are still low) you don't and he still will win as it seems like he purchased a great house cheap so in theory there is room for long term growth and the yields are looking good too
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25-04-2013 07:48 #81
28-04-2013 09:28 #82
Another thing to consider is waiting until 1 July & making the offer again. If he sells after 1 July, he won't have to pay the capital gains tax for 12 months. Otherwise I agree with the person who said to just leave your 550k offer on the table & wait and see.
01-05-2013 07:36 #83
Any news? Updates???
01-05-2013 17:04 #84
Ooh yes any updates??
03-05-2013 07:06 #85
I so hope it works/ed out for you op
03-05-2013 10:17 #86Gday Australia
- Join Date
- Oct 2005
We got a contract in it for $570k. The agent negotiated his commission without me asking.
I found out the agent and seller know each other personally.
This house did sell for $550 four years ago. Then the current owner got it for $450. So cheap because the house was completely trash. No carpet, no curtains needed fully painted etc. The bank put under auction and with the terms a cash buyer only could buy it. So hence why it went for cheap.
I was hoping to get the house for $550 but he wouldn't sell. So an extra $20 for a house we love is a price we have to pay.
03-05-2013 10:31 #87
That is fantastic news!!! And I think the money is fair. Really it only went up 20k in 4 years.
Given he paid 450k and it was trashed so he had to do work on it. I think it's fair.
03-05-2013 13:32 #88
03-05-2013 18:58 #89
Yay! I hope you live a happy life in your new home
03-05-2013 19:30 #90
Congratulations! That's fantastic news!!
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