suesmalls Posted June 27, 2017 Share Posted June 27, 2017 Hope all goes well @ScottieGirl be exciting getting the house made over as you like and want - please allow 10% over run as things are always found and uncovered and never go to the exact plan - but I'm sure you're aware of this. Just thought I'd say it out loud. Either way you're still in a great position being a cash buyer. Quote Link to comment Share on other sites More sharing options...
Collie Posted June 27, 2017 Share Posted June 27, 2017 18 hours ago, starlight7 said: Very different market here- several buyers for each house but I am sure it cannot last much longer. Prices are spiralling out of control in some local areas- one of my daughters had her house valued at over 2 mill and it is a nice house but not THAT nice. Never known anything like it in all the years we have been here. Out of interest what market are you in? IMO, Sydney & Melbourne are at their peak and there are some signs of it turning. Sydney auction clearance rates have dropped in recent weeks. Property has been dropping in Perth for a couple fo years now with no sign of the decline ending. Perth is a very boom and bust town though and it is very much in bust territory at the moment. Quote Link to comment Share on other sites More sharing options...
suesmalls Posted June 27, 2017 Share Posted June 27, 2017 Hi @Collie I just sold in Perth and we sold below bank valuation - very hard after 17yrs hard toil - lots of interest; but people know they can make extremely low ball offers and request furniture, fridges, washing machines & dryers for the very low price - this happened to us and I've heard from others that had to throw in their very best whitegoods etc. They are saying that Perth market has hit it's lowest and starting to pick up - I know the job market in the resource sector has had some improvement in past few months. Quote Link to comment Share on other sites More sharing options...
Collie Posted June 27, 2017 Share Posted June 27, 2017 Hey Sue, Definitely a buyer's/renter's market. There are some greenshoots but it is very slow. One week, I think things are picking up and the next it is dead (job hunting at the moment). A lot of people still leaving, I see posts about break leases every week. Also still getting rental alerts and rents are still dropping. I don't think it is at the bottom quite yet, another 12 months maybe. If you think of it as a clock, IMO Perth is at about 4-5 o'clock (6 being the bottom). Sydney, Melbourne closer to 12. 1 Quote Link to comment Share on other sites More sharing options...
suesmalls Posted June 27, 2017 Share Posted June 27, 2017 Hi @Collie Definitely not a sellers market - have felt that pain and so have others from Perth on this forum Good luck with job hunting in Perth - there's a few things picking up but it does seem to keep going through mini ups and downs in the general overall down cycle. When talking with Chess they're doing great business and a lot of Irish moving back. Quote Link to comment Share on other sites More sharing options...
Parley Posted June 29, 2017 Share Posted June 29, 2017 (edited) You also need to factor in that it is winter, traditionally a quiet time for property sales. Most people like to sell in the warmer months. I think Melbourne houses will keep rising, just wait for Spring before you call the top of the market. Melbourne is the fastest growing city in the country. Immigration is still high and 9 out of 10 immigrants want to settle in the east coast capitals. With the demand for housing by new residents I don't see the housing market crashing at all. Inner city apartments is slightly different as they are probably in oversupply, but housing in the suburbs is still looking good. Edited June 29, 2017 by Parley 2 Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted June 30, 2017 Author Share Posted June 30, 2017 Day 4 after making the offer and no response as the vendor have gone on holiday!! So back out looking. Sigh. Or I could offer on another house where the agent says the buyer is now ready to take a lower price. 1 Quote Link to comment Share on other sites More sharing options...
suesmalls Posted June 30, 2017 Share Posted June 30, 2017 Go with what is going to be better for you and where you feel happiest. If they're willing to take a lower price - are you going to be happy with your purchase / outcome? 1 Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted June 30, 2017 Author Share Posted June 30, 2017 9 minutes ago, suesmalls said: Go with what is going to be better for you and where you feel happiest. If they're willing to take a lower price - are you going to be happy with your purchase / outcome? I honestly don't now thats the dilemma. Haven't loved any houses I have looked at as the style is very dated compared to Sydney. I want to be near to public transport which means buying an older house that needs updating. House number 2 is also 40k more expensive as it has an extra bedroom and a conservatory. I could afford it but don't need all the space. I could have a lot of very nice holidays for 40k But if I wait for house number ones vendors to get there act together I may find the survey shows up issues as it is an older house. I draw the line at structural work. Then I lose house no 2. Off for a run, am going to look like a gazelle soon. 1 Quote Link to comment Share on other sites More sharing options...
suesmalls Posted June 30, 2017 Share Posted June 30, 2017 You're in a good position but deciding what to do is hard - make an offer perhaps lower than what you're prepared to pay - that way if they accept perhaps it's a good buy (but you can't back out) and if they want to go higher and counter offer it will test how far you're prepared to go on the 40K higher one. You'll know if you're prepared to pay more and where you're limits are. But if they accept at the lower end you will have to stand by your offer (so don't go in on a whim). So you're a cash buyer, sold well on your house sale in Adelaide, and now you look like a gazelle - I'm well envious of you Good for you and well done. 1 Quote Link to comment Share on other sites More sharing options...
Wa7 Posted June 30, 2017 Share Posted June 30, 2017 50 minutes ago, ScottieGirl said: Day 4 after making the offer and no response as the vendor have gone on holiday!! So back out looking. Sigh. Or I could offer on another house where the agent says the buyer is now ready to take a lower price. Obviously we can't see what you see but whatever you offer start very low. If I was looking at a property on for £200k first offer will be £165k and only going up 4k at a time ( don't rush the improved offers ) and then pausing around the £175k mark and let them know that's all you can afford and let them stew on it for a few days ( if they want it sold they won't want to let you lose interest ). All comes down to demand in that particular area...........if it's slow then this tactic should get the best counter offer from them, if it's hot or just a really nice place then not so much so adjust accordingly. Plenty out there so don't limit yourself, your a cash buyer enjoy it ? 1 Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted July 11, 2017 Author Share Posted July 11, 2017 So 2 weeks after putting in offer and being pressured by EA to appoint solicitor and show proof of funds so house is taken off market nothing has happened as vendor has yet to appoint their solicitor. EA tells me not to spend money on survey until memorandum of sale issued which requires vendors solicitors details. I smell vermin. Sigh House number 2 has just been reduced 20k today and another house has come on the market 2 doors down from one I lost out on with same layout but 10 k cheaper. I will be on the phone tomorrow to arrange a viewing. Quote Link to comment Share on other sites More sharing options...
Collie Posted July 11, 2017 Share Posted July 11, 2017 (edited) It sounds like the market is dropping were you are looking. It may be worth holding off for a few months to get the lay of the land. Edited July 11, 2017 by Collie Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted July 11, 2017 Author Share Posted July 11, 2017 34 minutes ago, Collie said: It sounds like the market is dropping were you are looking. It may be worth holding off for a few months to get the lay of the land. I am staying with family at the moment and really want my own place, plus my stuff arrives in a few weeks. Renting a nice place will cost a lot as I have 2 dogs so am hoping I can sort a sale soon. Had forgotten how painful the English process is and indeed the whole moving country lark. Sigh. Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted August 2, 2017 Author Share Posted August 2, 2017 On 6/26/2017 at 15:43, BacktoDemocracy said: Make sure you get a RICS surveyor but chat to them about what you want included in the survey as they may just work to a standard format. Thanks for the advice, just got the survey back. I was concerned about insulation as it is a dormer so asked them to look at it in detail. Having lived in Aus for so long not phased by the style but am phased by badly insulated cold houses. Report came back advising to insulate to modern standards needs new roof at cost of around 10k. Plus the phrase amateurish repairs was used a number of times. . Will be out house hunting again shortly. 1 Quote Link to comment Share on other sites More sharing options...
Melbpom Posted August 5, 2017 Share Posted August 5, 2017 On 12/07/2017 at 03:25, ScottieGirl said: So 2 weeks after putting in offer and being pressured by EA to appoint solicitor and show proof of funds so house is taken off market nothing has happened as vendor has yet to appoint their solicitor. Is there any way to show proof of funds without displaying your bank statement? I'm in a similar position and looking at a cash purchase and wondered if there's another way, maybe the bank would certify that there are adequate funds or something like that. Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted August 5, 2017 Author Share Posted August 5, 2017 (edited) 11 minutes ago, Melbpom said: Is there any way to show proof of funds without displaying your bank statement? I'm in a similar position and looking at a cash purchase and wondered if there's another way, maybe the bank would certify that there are adequate funds or something like that. A solicitor could do it but they will charge and of course they will need to see the bank statement. I presume the bank would also charge you. Edited August 5, 2017 by ScottieGirl Quote Link to comment Share on other sites More sharing options...
Melbpom Posted August 5, 2017 Share Posted August 5, 2017 I think it would be worth paying for a bit of privacy, so I might try the solicitor. Are you having any success with your house search? Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 On 26/06/2017 at 10:01, ScottieGirl said: 4 days per room? I know you have to wait for stuff to dry but for 6 rooms thats 24 days or 5 weeks. I assume they can do more than one at a time? Yes a day or 2 at most and while stuff drying in one room get on with another. Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 On 11/07/2017 at 19:18, ScottieGirl said: I am staying with family at the moment and really want my own place, plus my stuff arrives in a few weeks. Renting a nice place will cost a lot as I have 2 dogs so am hoping I can sort a sale soon. Had forgotten how painful the English process is and indeed the whole moving country lark. Sigh. We put in an offer, had it accepted same day and moved in around 3 weeks later, I can't remember exactly. My point is the process certainly doesn't need to be painful. If you want painful let me tell you about selling our house in Brisbane lol Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 On 05/08/2017 at 09:46, Melbpom said: Is there any way to show proof of funds without displaying your bank statement? I'm in a similar position and looking at a cash purchase and wondered if there's another way, maybe the bank would certify that there are adequate funds or something like that. We were cash buyers and didn't need to show any proof of anything, we told the agent we had cash and it moved on quickly and easily. Quote Link to comment Share on other sites More sharing options...
Melbpom Posted August 10, 2017 Share Posted August 10, 2017 22 minutes ago, bristolman said: We were cash buyers and didn't need to show any proof of anything, we told the agent we had cash and it moved on quickly and easily. Hmm, I've just bought a buy to let and had to show a bank statement. Will avoid doing so next time. Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 47 minutes ago, Melbpom said: Hmm, I've just bought a buy to let and had to show a bank statement. Will avoid doing so next time. You were a cash buyer and had to show a bank statement ? Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted August 10, 2017 Author Share Posted August 10, 2017 1 hour ago, bristolman said: We were cash buyers and didn't need to show any proof of anything, we told the agent we had cash and it moved on quickly and easily. Have made 2 offers and both agents has asked for proof of funds, one before submitting the offer. The latter then tried to get me to up the offer. Curt words were exchanged. Quote Link to comment Share on other sites More sharing options...
Martinbjulieb Posted August 10, 2017 Share Posted August 10, 2017 Is there any way to show proof of funds without displaying your bank statement? I'm in a similar position and looking at a cash purchase and wondered if there's another way, maybe the bank would certify that there are adequate funds or something like that.Our bank, RBS, have confirmed that they can certify that we have sufficient funds without revealing balances of our accounts. Sent from my iPhone using PomsinOz Quote Link to comment Share on other sites More sharing options...
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