Zaph That may be true or perhaps not. Depends on what you are offering? Is it a share of the final profits or the purchase of the block? In my friends case, it was generally 20% above market value and on a 12 mth settlement (while approvals were sought). He did not get any sore knuckles.
Point is, that is the OP'er may find the property from those that are not listed. He may have greater success from a split/build options. This may apply to his current situation as he also may find a property that is not listed and is still suitable and buyable.
IIRC the OP wanted a family home not a development project.
The OP just wanted to know a bit about the process of buying a house and if there are potential advantages to using cash.
But instead, they get a bunch of unsolicited/gratuitous 'financial advice'. Despite having stated twice they are being "forced" to buy a house - On behalf of a family member.
Some of you dudes just don't have great listening skills I'd suggest?
PS: I empathise a bit with the OP having been in the situation where a family member phoned me one day when I was a young dude who'd never gone house shopping before and said "We're moving to the town you live in; We'll need a house to live in - Buy us one!" (And yes, they had cash.)
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
I have about 750k in cash to buy a home for my family member.
Does paying for a house in cash have benefits?
Do we get the house sooner? Are they more likely to sell to us?
I know there is no difference from them getting 750k from the bank and 750k from us in cash but i thought I would ask.
etc?
Thanks!
I suppose one drawback is that is a lot of cash to put into just 1 property.
Using finance you could purchase maybe 10 mid priced dwellings with positive cashflow, and then use the cashflow to finance your own dwelling either immediately or down the track.
Agreed there is alot more risk involved but having gone down a similar path myself recently (buying outright on number 5) im starting to think i would have been better using the cash to mortgage several properties. Which i can still do down the track mind you.
I suppose one drawback is that is a lot of cash to put into just 1 property.
Using finance you could purchase maybe 10 mid priced dwellings with positive cashflow, and then use the cashflow to finance your own dwelling either immediately or down the track.
Agreed there is alot more risk involved but having gone down a similar path myself recently (buying outright on number 5) im starting to think i would have been better using the cash to mortgage several properties. Which i can still do down the track mind you.
Another blowhard wannabe financial advisor who can't listen to what he's been told and asked and confine himself to commenting within those stated constraints ...
Was there something about the OP's use of the word CASH that confused you Silverman? And thus compelled you to start yacking about the beauties of using credit/debt?
You do know that some of you dudes are just out 'n out noisy control freaks who are full of yourself and the presumed efficacy of your own ideas I assume?
Another blowhard wannabe financial advisor who can't listen to what he's been told and asked and confine himself to commenting within those stated constraints ...
Was there something about the OP's use of the word CASH that confused you Silverman? And thus compelled you to start yacking about the beauties of using credit/debt?
You do know that some of you dudes are just out 'n out noisy control freaks who are full of yourself and the presumed efficacy of your own ideas I assume?
i suppose i have some experience to talk about at least, unlike yourself.
Who said the property was listed with an agent? Not me. Find the value direct and do a good deal, add value and prosper.
So the plan you’re suggesting is... The OP finds a property they want to buy and then convinces the owner to sell the property - they haven't displayed any interest in selling - at a reduced price?
Any idea at what the success rate of this plan might be?
The OP just wanted to know a bit about the process of buying a house and if there are potential advantages to using cash.
But instead, they get a bunch of unsolicited/gratuitous 'financial advice'. Despite having stated twice they are being "forced" to buy a house - On behalf of a family member.
Some of you dudes just don't have great listening skills I'd suggest?
PS: I empathise a bit with the OP having been in the situation where a family member phoned me one day when I was a young dude who'd never gone house shopping before and said "We're moving to the town you live in; We'll need a house to live in - Buy us one!" (And yes, they had cash.)
The skills you were referring to, would be comprehension, not listening.
And if you read my post again, and comprehend it, i talked about cash buys vs finance.
I can understand the level of sexual frustration you must have living and working with a lot of fat hairy men out in the middle of nowhere every week, which explains your reaction to a simple text post on an online forum. Who knows maybe thats what your into?
As for 'Hard Work' in the mines, tells me you have no idea what the two words mean, this would be like saying working for energex is 'Hard Work'. Its one giant bludge out there.
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