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 😁
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05-04-2016 02:52 #1
05-04-2016 06:02 #2Senior Member
- Join Date
- Mar 2015
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.
05-04-2016 06:19 #3
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
05-04-2016 06:52 #4
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.
05-04-2016 07:20 #5
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
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