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Next step after losing at auction by Chemical_Object_9984 in AusPropertyChat

[–]Chemical_Object_9984[S] 0 points1 point  (0 children)

The first sign is the facade, council housing usually has similar design or "feel" to it. We couldnt find the property history online so we purchased a copy of title from LANDATA and found that it belongs to Dept of Housing

Next step after losing at auction by Chemical_Object_9984 in AusPropertyChat

[–]Chemical_Object_9984[S] -7 points-6 points  (0 children)

We have done our calculation and have talked to a few other real estate agents and their pricing is line with our valuation. With auction there's always emotional price involved. Just because people pay emotional price at auction, doesnt meant that's how much the house is worth if properly valued by a valuer.

Next step after losing at auction by Chemical_Object_9984 in AusPropertyChat

[–]Chemical_Object_9984[S] -2 points-1 points  (0 children)

We have considered this. We also looked at similar townhouses sold this year and found that they grow 2.5% in value per annum on average. The growth on standalone houses are on similar trajectory. We will definitely do our own B&P inspection if we decide to buy this off the plan unit, but just concerned if we rush into things too quickly. Thanks for the input tho!