澳洲Australia property The Truth. | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


The back ground - I have a property which I purchased about 5 years ago in Revesby area south west of Sydney, I paid 375k. 3 bedroom house is rather small but makes me 400 dollars rent a week. Main reason for my purchase was it’s a 580 square duplex wide piece of land and knew I wouldn’t lose. Today I owe the bank about 220k on it.

I have been approached by a real estate agent who is talking about a development behind me. The site today has about 12 townhouses in very old condition worth knocking over. It was badly designed when developed many moons ago with further land not in use. I estimate the complete land is around 3000 squares (Thank you google maps). Also the real estate agent said my two neighbours have been approached also. His presented a price a little over 500k. I am not interested in the offer because I feel I would get that if I did put it on the market. My plan wasnt to sell this soon if possible.

Without going to ask the neighbours, is there a way I can find out if it’s true? Asking Bankstown council?
How do I know if the real estate agent isn’t going to just build a duplex with his mates?
How do I know if the real estate agent just wants a sale?

If I don’t sell and a development does get built around me it won’t be as desirable for my development or sale.

I have tried to keep it short, if I missed anything please point them out. Really looking forward to some replies.

Dave  

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Why don't you want to approach the neighbours? If they have been approached, you could get together and hold out for more money.

I know a family who had a prime block at Surfers, kept wanting more money that was offered by the developers wanting their block to make a larger development block.

They ended up having high-rise, left, right and behind them, had held out for more money from each of these developments, and were left with a badly shadowed small block towered over by high-rise, and worth less than what they had been offered by the developers.

Food for thought...  

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Thanks for the reply and that is a perfect example of getting screwed.

Main reason is both neighbours are rentals. I want to leave it as a last option before knocking on the door and asking for owners names and numbers (if they even have them) Don’t want to create noise this early on and spook the tenants.  

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davochev said: ↑
The back ground - I have a property which I purchased about 5 years ago in Revesby area south west of Sydney, I paid 375k. 3 bedroom house is rather small but makes me 400 dollars rent a week. Main reason for my purchase was it’s a 580 square duplex wide piece of land and knew I wouldn’t lose. Today I owe the bank about 220k on it.

I have been approached by a real estate agent who is talking about a development behind me. The site today has about 12 townhouses in very old condition worth knocking over. It was badly designed when developed many moons ago with further land not in use. I estimate the complete land is around 3000 squares (Thank you google maps). Also the real estate agent said my two neighbours have been approached also. His presented a price a little over 500k. I am not interested in the offer because I feel I would get that if I did put it on the market. My plan wasnt to sell this soon if possible.

Without going to ask the neighbours, is there a way I can find out if it’s true? Asking Bankstown council?
How do I know if the real estate agent isn’t going to just build a duplex with his mates?
How do I know if the real estate agent just wants a sale?

If I don’t sell and a development does get built around me it won’t be as desirable for my development or sale.

I have tried to keep it short, if I missed anything please point them out. Really looking forward to some replies.

DaveClick to expand...
Dave have a talk too the local council town planner and most times the first 20 minutes are free well it is up this way and see if what the re has said isupfront,then ask if you can get a "DA" on your property and what would be the value prior and after,then have the property valued by 2 different people,then ring the non title holder agent and state your price,,..  

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If he wants all 3 blocks he would be crazy to approach all neighbours and then tell everyone about it. That would make the price wanted instantly increase.  

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davochev said: ↑
Thanks for the reply and that is a perfect example of getting screwed.

Main reason is both neighbours are rentals. I want to leave it as a last option before knocking on the door and asking for owners names and numbers (if they even have them) Don’t want to create noise this early on and spook the tenants.Click to expand...
Do a title search and get the real owner names without having to talk to their tenants. Think it costs about $40 per property.

Jason  

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Thanks for the replies.

I got the development site incorrect. It’s actually 4 blocks (two of which are battleaxe) behind me. The developer has 2.5 mil to purchase the 5 blocks. 1 block won’t be selling and they 100% require mine for drive way out access.

In the end I got in contact with a neighbour who has agreed to sell if they reach his request. I am in the same boat now too but must work out realestate fees and CGT. Does anyone have a good website to calculate the CGT. It’s very seems beyond confusing!  

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For a rough estimate

$375K + purchase costs $14K = $389,000

Sell $500,000 (- sell costs) - $389,000 = $111,000 x 50% = $55,500.

So $55,500 x your tax rate = CGT.

There are ways you can reduce your tax (salary sacrifice etc).  

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