Hot Property

Overview:

Buyers’ Agents don’t just come in handy for investors. Our client had previously used our service to find an investment property and was now looking to upgrade their home and chose to call on our help once again. The client did the legwork in locating properties throughout key areas south of Perth, and used our Buyers’ Agents to help research and evaluate potential opportunities and negotiate the eventual purchase.

After evaluating a number of properties our Buyers’ Agents recommended a modern street-front townhouse in Mount Pleasant. The suburb offered good value compared to nearby areas, with a number of newer homes being built and an enjoyable lifestyle for the client. The selected property also featured higher land value, was elevated with river glimpses, and was surrounded by better quality homes which made it superior to other opportunities considered.

Our Buyers’ Agents commenced negotiations to bring the price down from a listed price of “mid-900’s”. After six weeks of tough negotiations, the property was finally secured for $870,000, under estimated market value. The new owners have decided to rent out the property for now (renting at $150 more per week than anticipated by our Property Wealth Management Division by negotiating on special conditions) while they ride out the market to sell their current home. This strategy ensures they receive a good discount on their buy in the present market, while being able to hold out for a higher price on their current home to close the financial gap of upgrading. 

Result:

Purchase of a street front 3x2 plus study brick and tile townhouse in Mount Pleasant, 9km from Perth CBD.

Purchase price: $870,000

Estimated market value at time of purchase: $880,000 - $900,000

Savings: $10,000 - $30,000

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