a bit off topic but with your 100 to 1 scenario do you guys always use the same property solicitor when making offers? I have been making a few low ball offers but every time I need to send the contracts thru to my solicitor ( which does not get paid until a sale goes thru) . I'm gussing she will start getting quite anoyed at all this unpaid work eventually....
Buying a home to live in but renting 1st 4 years
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30-08-2011, 03:41 PMbung5
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30-08-2011, 03:58 PMfungus puddingAn offer is not a contract until signed by the other party. If you need the solicitor to check your offer before it is presented to the vendor, then of course this should cost you. If you do not need the solicitor until you have an agreement or contract (that is both parties have agreed all points and signed) then it should nearly always eventuate in a completed sale and purchase, depending on special clauses.Quote:
Originally Posted by bung5
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30-08-2011, 04:33 PMbung5
In all the cases I have delt with the vendor required the offer on signed on the contract sent to them...
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30-08-2011, 08:36 PMfungus puddingYou make an offer to the vendor who may accept, reject or counter offer. If he accepts it is then a contract. If he rejects, or counter offers, it is no more than a piece of paper (although often referred to as the contract). But you were talking about the solicitor. I have always dealt without involving my lawyer until the contract was formed. i.e. all points agreed, signed and dated. Others are more cautious and if they want the lawyer to vet the offer before presenting it to the vendor, then they will almost certainly incurr a charge.Quote:
Originally Posted by bung5
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22-12-2011, 09:55 AMskid
One thing to consider with commercial property--They can be great money spinners when they are rented ,but if theres a downturn and the lease runs out. sometimes they can sit empty for a long time.Ive noticed a few here in Auckland that have been empty for many months now.
One option for residential is to look for a house split into 2 flats. its better rent and you can live in one and rent the other.Also if you sell ,the vendor can do the same which makes it more affordable.
Downside is they are hard to find. -
22-12-2011, 11:38 AMh2so4
With resi there is always options skid.
1.If you buy close to your work you can save by walking.
2.If it has a double garage and you live close to a hospital you can rent that out.
3.If there is room for a sleep out you can rent that out.
This was our first property, it was already in two flats, but in a short time we doubled the rent, made some improvements and sold for a capital gain. -
22-12-2011, 10:03 PMjanner
" Ive noticed a few here in Auckland that have been empty for many months now. "..
Skid... Make that many years in Penrose .. Mt Wellington.. East Tamaki.. and Manukau.. -
31-12-2011, 08:55 AMskid
And onehunga--scarey stuff alright
the resedential minor dwelling is a good one for bumping up % of return for a property because you dont have to factor in the cost of the land.
Downside can be that the council can make it really difficult with permits etc.so you really need to do your homework.
Not sure how things are with the new S city council.
You would think they would be encouraging it to solve the population crises but we all know that its them that can be the real Turds[to coin Belges phrase]