In the TV series Vicar of Dibley, outrageous character, Jim, stammered his answer to every question with “no, no, no, no, no, yes”.
I thought I was going down that path late last year when Assisted Property Buying clients M&I (who have to do the Search), were presenting me with properties that they has identified. Fortunately, it turned out to be just “no, no, yes!”
ACT ONE : The Boronia ‘bargain’’
After a number of suggested properties that never made it past desktop review, I did a drive-by inspection of this apartment. Although it had a number of advantages, after a bit of on line investigation the zonings I advised the clients, M&I , that this was in an interface zone, between residential and commercial and the change of adjoining commercial development as was too high.
The Boronia bargain was scratched from the list. So, it was a NO.
ACT TWO: The Mitcham high-rise
Undaunted and grateful, my clients searched on coming up with a new target closer to the city but in a much larger complex. Proximity to shops and station were good but build quality was questionable. With an elaborate foyer, and garden areas, the Owners Corp fees were going to be the big questions. I found out they had been underquoted, and at over $3000 PA were going to be burden for the clients.
The Mitcham high-rise was scratched from the list. So, it was a NO.
ACT THREE: The Blackburn new build
Eventually my client can up with another apartment, closer to the city and in a smaller development, Brand new, never occupied, and with good light, it went to Due Diligence and the building inspector gave it a big tick. Not only that, the lawyers established that my clients would be entitled to a $10,000 grant, as well a Stamp Duty Discount. Added to that, the deal I negotiated was $14,000 less that the Off The Plan vendor.
So, it was a YES!
All settled now and our delighted first homebuyers have moved into their own home.