First Home Buyer Blues
| # | Post |
|---|---|
| 1 | Daughter looking to get on the ladder. Properties still remain very reasonable on the Coast but are moving very fast like anything else at the moment so she is missing out because she needs to do research and doesn't even get a chance to get property checked out by builder (brother in law) and second pair of eyes. What sort of extra conditions might sheet in a offer to allow her time to check and be confident about her purchase? She wanted to have a new build but without getting on the ladder that to will quickly become out of reach melinda1 - 2020-11-26 07:29:00 |
| 2 | melinda1 wrote: if its that bad and shes pre-approved then nothing. Either conditional on finance or unconditional. A sale and purchase agreement offers vendor warranties, try reading it. Seconds to get a title search , minutes to do a counter search of the council records. You got to want it that much. gabbysnana - 2020-11-26 08:09:00 |
| 3 | The "ladder" mentality is half the issue. IT should be a home not a means to riches. lythande1 - 2020-11-26 08:13:00 |
| 4 | If her offer is by far the best money wise, I would think the 'subject to builders report and LIM' would still be acceptable. huggy5 - 2020-11-26 08:50:00 |
| 5 | lythande1 wrote:
Not everyone is in a position to help. familiadude1 - 2020-11-26 09:03:00 |
| 6 | lythande1 wrote:
How do you know she is not helping? johnston - 2020-11-26 09:11:00 |
| 7 | melinda1 wrote:
Do not omit conditions just because others are. johnston - 2020-11-26 09:12:00 |
| 8 | "What sort of extra conditions might sheet in a offer to allow her time to check and be confident about her purchase? " aklreels - 2020-11-26 09:21:00 |
| 9 | melinda1 wrote:
What is the agent advising? How about your lawyer? johnston - 2020-11-26 09:24:00 |
| 10 | It is hard for first home buyers so my advice is to go in fully prepared. A pre-approval for the mortgage is essential (nearly impossible if over 80% but can be done). Once a property selected pass the address the the lender as they have to sign that off too. If 80% or less unlikely to need a valuation unless buying privately. Get your lawyer to go over the LIM. You may want a building inspection, I would. Don't be pressured by RE Agents, (FOMO) there is always another house. Good luck jeffqv - 2020-11-26 13:49:00 |
| 11 | LVR changes will reduce demand. Possibly that reduction will be in first home buyers as they are the folk struggling with deposits apparently. artemis - 2020-11-26 15:09:00 |
| 12 | artemis wrote:
I wish I could agree. The only thing that will help is an increase in supply in my opinion, LVR's did nothing before. jeffqv - 2020-11-26 15:42:00 |
| 13 | familiadude1 wrote:
Not everyone can afford to sell their house cheap to their son then move in with a parent can they. kacy5 - 2020-11-26 19:15:00 |
| 14 | Cant believe I saw one would be home buyer wanting to buy a house in this climate without any deposit! They need to adjust their expectations. Good luck. Dont give up. Our miss thought they had missed the boat because there was virtually nothing under the cap in the city they live in. Had to forget that and they did find something in the end by going a bit further out. landylass - 2020-11-26 23:40:00 |
| 15 | Thank you all for the fantastic insides and food for thought melinda1 - 2020-11-27 19:35:00 |
| 16 | melinda1 wrote:
Well hopefully you will be able to digest all the ideas. C'mon you punners. shanreagh - 2020-11-27 20:00:00 |
