A complication capitalized on as a buying opportunity in a prime suburb ...
Highlights
- July 2022 purchase, $844,000
- Prime position within an established family friendly suburb
- Located less than 10 kilometres from Brisbane CBD
- Walking distance to daycare, local shops, bus stop and parkland
- Low maintenance brick dwelling
- Internal upgrades making it immediately tenantable
- Easy access to the Gateway Motorway (north and south connectivity)
- Secured a tenant 2 days post settlement on 4% yield
How the deal happened:
- The property was originally scheduled to go to auction, but had to be withdrawn due to a title issue
- Our BA identified that the title complication may deter many buyers
- Lots of communication with the sales agent and our local solicitor helped our BA gain insight into the nature of the title issue, and assess the level of risk associated
- We were able to work with the solicitor to compose a special condition that protected the interests of our clients and proceed with an offer incorporating said clause
- We had previously purchased through the listing agent’s colleague, so they trusted us, our buyer screening and were very happy to work with us and endorse our offer (despite not being the highest offer monetarily)
- The transaction went ahead smoothly, with all milestones being met perfectly and the title issue being resolved prior to settlement as we had anticipated
Why did the client engage us?
- Proven past performance in sourcing high quality investment properties in high growth suburbs
- Experience navigating negotiations and contract terms
- Strong relationship with our local Solicitor and the ability to rely on their support when needed (even after hours)
- The professionalism of our Brisbane Team and our clients’ trust in our Buyers Agents background as Valuers
- Wanted to utilise the support of our Buyers Agent the whole way through the process to settlement and renting, including securing a tenant two days post-settlement
Property highlights:
- Located within a high growth, scarce and tightly held, family area of high amenity
- Quiet street with high owner occupation
- Updated kitchen, bathroom and floor coverings
- Split system air conditioning units and ceiling fans throughout
- Covered rear patio area
- Additional detached colorbond shed
- Fully fenced rear yard area
- Tenant secured two days post-settlement, achieving a 4% yield
Do you or someone you know want an off-market or pre-market purchase like this? Our on-the-ground Buyers Agents will get you one in Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Sunshine Coast, Gold Coast, Hobart.
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