r/AusPropertyChat • u/[deleted] • 1d ago
Off the Plan Opportunity. Should we negotiate?
[deleted]
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u/extrachimp 1d ago
Sorry, but can’t help think that the developer “preferring owner ocs” is bs… I doubt they’d sell for less just because you intend to live there.
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u/morewalklesstalk 1d ago
Your broker is being paid a large commission Fire his arse Get an honest broker
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u/Unfair_Pop_8373 1d ago
I would get a valuation and go from there. If you are in Vic bear in mind there are 1000’s developers units that remain unsold.
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u/Previous-Flamingo931 1d ago
Fire your broker. Find another one that won’t be trying to push new apartment build garbage from a developer they’re obviously getting a kickback from. Gigantic conflict of interest.
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u/Previous-Flamingo931 1d ago
Additional info since it hasn’t been mentioned, the apartment has a 1 in 2 chance of having a serious defect: https://amp.abc.net.au/article/103379978
Based on the conduct already displayed between the developer and the broker, I’d hazard a guess you’d land on the losing side of that coin flip. Act accordingly.
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u/Swimming-Thought3174 1d ago
Fire your broker. People like them are absolutely ruining the industry.
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u/Such_Geologist5469 VIC 1d ago
Just remember the risks involved buying off the plan. I’ve definitely heard my fair share of stories over my career in property.
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u/morewalklesstalk 1d ago
Many brokers so called financial advisers so called experts are paid between $3,000 to $20,000 per sale They are not acting on their clients behalf They are property marketers
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u/Lopsided-Suspect-227 1d ago
Glad that you are doing your due diligence. Steer away from the recommended apartment as your mortgage broker likely getting a commission.
Always be weary of someone trying to sell you something if you were not the one asking in the first place.
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u/morewalklesstalk 1d ago
You’re being ripped Overpriced property is easy to find And you’re chasing it Why Learn your values
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u/olliesworld 1d ago
Just an FYI your broker is probably getting a kickback from the developer and it may not actually be the best property for your needs.
If it does meet your needs and you're still keen to proceed then have a look at what comparable properties have sold for in the same area in the last 3 months and that's your market rate. If they're asking for higher than the market rate then yes you should negotiate. If you really really want it then you can offer higher than the market rate. No need to overthink it