“Buyer beware!”
The advice “Buyer beware!” when buying real estate took on a whole new meaning for our clients based in South Korea yesterday.
A home is on the market that Buyer Solutions clients absolutely love. It is a well renovated and extended home in the Melbourne suburb of Northcote. It has a lovely north facing rear garden, flooded with natural light, is in a quiet street but close to all the cafe action offered in busy and eclectic High Street.
BUT- to the rear of the property across a fairly wide right of way is a big parcel of land.
Buyer Solutions have made investigations and a big development has been given the go ahead by council. It will have 99 apartments, 4 shops and a restaurant. A total of 9 storeys high, this building will certainly affect the amenity of the home that our clients wanted to buy.
Also interesting to note is that the development has been approved with reduced car parking. So, there will not be one car space under-building for each apartment. The local streets therefore will likely become quite congested with people parking cars and scooters nearby.
After reporting the results of our research to our clients, they will not be bidding at the auction in a few weeks and will continue the hunt for their future home.
They are very grateful that our thorough research has prevented what could have been a costly mistake for them. Frequently the Buyer Solutions team research will result in not buying a property and we protect our clients, saving them money, stress and heartache.
If you are wondering about hiring a Buyers Agent or Buyers Advocate please establish what they do for their fees. The pre-purchase research is vital to a good outcome for you as the buyer.
For up to date information on what’s happening in real estate in Melbourne, contact Janet at jspencer@buyersolutions.com.au or 0418 101 146.
Buyers Agent, Buyers Agent of the Year 2014, Buying property, Expatriate Aussies, First home buyers, Home buying, Overseas Buyers
+61 39816 8555