Mackay Purchase Case Study: Buying

 

Those of you who have followed the developments in our Mackay case study for one of our Property Zest clients, Serg, may be wondering what happened after we announced here that we’ve provided him with a shortlist of potential properties.

Presenting…THE property

Well, after considering the pros and cons of each of the three standout properties, Serg finally decided to go for this brand new house located in the suburb of Glenella in Mackay.



Having made his choice, the next thing for us to do is to make an offer. Before we came up with the figure, we conducted research (yet again!) on the property and the street location. The property has been on the market for some time and the price has dropped from $560k to $530k. Needless to say, the owner wasn’t too keen on accepting anything less than the current asking price. But it was Christmas time when we were doing all these negotiations plus factor in that the property has been on the market for quite a while, so we gave it a shot!

So we put up our offer of $507k and it was accepted!

Glenella being one of the best suburbs in Mackay and the property being brand new are just two major factors that would appeal to any tenant so we knew we had a good buy in there!

Now what?

The crucial part of putting up an offer and having an offer accepted may be over but that doesn’t mean we could all relax and open a bottle of champagne. There were still issues that need to be addressed and if you aren’t familiar with Queensland real estate transactions, you might be surprised how quick transactions are done here (just a heads-up especially for those in Victoria and NSW).

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