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Forum » Bought a house online yesterday, never set foot in it, AMA
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Thread: Bought a house online yesterday, never set foot in it, AMA

post 1649315933 10-20-2021, 04:37 PM
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Bought a house online yesterday, never set foot in it, AMA

Handed over the deposit cheque and signed the contract without seeing the house

Pick up the keys in 90 days

Did I dun goof?
post 1649316093 10-20-2021, 04:40 PM
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Is it because you’re trapped in your home by your tyrannical government?
Losers let it happen, winners make it happen.

Nonsense Army Crew.
post 1649316193 10-20-2021, 04:42 PM
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Lots of this happens in my area, with large over bidding.

Some buyers have never even been in the country lol
post 1649316213 10-20-2021, 04:43 PM
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Originally Posted By Prolapse916⏩
Is it because you’re trapped in your home by your tyrannical government?
See location

Unlike Americucks we can actually go out whenever we like
post 1649316303 10-20-2021, 04:44 PM
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Originally Posted By r32gojirra⏩
See location

Unlike Americucks we can actually go out whenever we like
Agreed

I haven't let my house in what seems to be an eternity, Everytime I try to they extend it another two more weeks
post 1649316363 10-20-2021, 04:45 PM
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Originally Posted By GooBaaa⏩
Agreed

I haven't let my house in what seems to be an eternity, Everytime I try to they extend it another two more weeks
Are you a 2Aer
post 1649316533 10-20-2021, 04:48 PM
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i guess hiring a guy to do a inspection is old school, as is negotiations. now adays you'd just get outbid by blackrock
post 1649316653 10-20-2021, 04:50 PM
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Originally Posted By Leonydus⏩
i guess hiring a guy to do a inspection is old school, as is negotiations. now adays you'd just get outbid by blackrock
We do get an inspection report provided by the seller but it’s precisely as worthless as you’d expect

“Can’t see the condition of the slab and footings because there’s junk piled under the house”

“Crawl space in roof is too small to access”

“No reliance to be place on this report” etc

Like what’s the point

Lucky I didn’t need a bank appraisal
post 1649316733 10-20-2021, 04:51 PM
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#9
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What kind of ****g0t spells check as cheque?
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post 1649316873 10-20-2021, 04:54 PM
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Originally Posted By keyboardworkout⏩
What kind of ****g0t spells check as cheque?
One that can read and write in English, ****guette
post 1649316903 10-20-2021, 04:54 PM
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Sold two houses this way when I was doing real estate
Had never even met the clients before.
Felt pretty gangster ngl
Sloots Gon Sloot.
post 1649317293 10-20-2021, 05:00 PM
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Originally Posted By Krackerjacked⏩
Sold two houses this way when I was doing real estate
Had never even met the clients before.
Felt pretty gangster ngl
I turned up to the agents office with a a cheque and a signed contract like 2 hours after it hit the market lol
post 1649320083 10-20-2021, 05:46 PM
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Depends

What’s your net worth and how much did the house cost?
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post 1649321023 10-20-2021, 06:00 PM
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why would you take such a big risk? what if there are foundation issues or cockroaches or some chit
(these are my opinions i am not a licensed broker by trade)
post 1649321473 10-20-2021, 06:09 PM
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nah, lots o investors buy a house or put an offer in based just off pics and maybe a video tour from a realtor.

getting to be way more common.
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post 1649321983 10-20-2021, 06:19 PM
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Originally Posted By r32gojirra⏩
I turned up to the agents office with a a cheque and a signed contract like 2 hours after it hit the market lol
Hell yeah dude
Sloots Gon Sloot.
post 1649322893 10-20-2021, 06:37 PM
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Originally Posted By r32gojirra⏩
One that can read and write in English, ****guette
Slaughtered lmfao
post 1649322973 10-20-2021, 06:39 PM
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I’d never buy a house like this. Why did you?

Property selling too fast? Seems like a crazy thing to do.
post 1649323113 10-20-2021, 06:41 PM
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Originally Posted By Anachron⏩
Why didn't you get itbeforeit hit the market?
Too many other inspections/auctions scheduled
Originally Posted By VegasLifter26⏩
why would you take such a big risk? what if there are foundation issues or cockroaches or some chit
I can almost guarantee there are structural issues

We’re not moving in though. Going to rent it out just long enough to get the permits for subdivision and then it’s got a date with a bulldozer
Originally Posted By ChunkBuster⏩
I’d never buy a house like this. Why did you?

Property selling too fast? Seems like a crazy thing to do.
Market is moving pretty fast. My personal prediction is some fairly significant house price inflation/stagflation

Had cash sitting in the bank losing value so better to dump it into something until I figure my next move
post 1649323233 10-20-2021, 06:43 PM
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Originally Posted By r32gojirra⏩
Handed over the deposit cheque and signed the contract without seeing the house

Pick up the keys in 90 days

Did I dun goof?
going by your wise choices in the past , you should know on the east coast of aus it's the land that's worth the cash. If it's ratnest, just demolish and build 4 x 800k 2 bedroom units on it.
post 1649323423 10-20-2021, 06:47 PM
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Something tells me you have enough experience in doing this so you should be fine.
National Level Competitor (Female BB)
post 1649323613 10-20-2021, 06:49 PM
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Originally Posted By Evantus⏩
going by your wise choices in the past , you should know on the east coast of aus it's the land that's worth the cash. If it's ratnest, just demolish and build 4 x 800k 2 bedroom units on it.
Yeah it’s a large square flat block with no significant trees in the redevelopment/subdivision zone and great access to schools and the CBD. It in a quiet street

Oh and there’s a house on it too lol
Originally Posted By kimm4⏩
Something tells me you have enough experience in doing this so you should be fine.
Not as fine as you tho bby <3
post 1649323723 10-20-2021, 06:51 PM
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Originally Posted By r32gojirra⏩
We do get an inspection report provided by the seller but it’s precisely as worthless as you’d expect

“Can’t see the condition of the slab and footings because there’s junk piled under the house”

“Crawl space in roof is too small to access”

“No reliance to be place on this report” etc

Like what’s the point

Lucky I didn’t need a bank appraisal
same thing happened to me with a ****ty inspection. The guy didn't barely do any actual inspection, and just said bullcrap about mites in the roof and he had a mate that could treat them. Well it was just a dodgy cash grab. When I moved in, all the electrics were dodgy and fuked, toilet waste was leaking and neglected, cracked brick from sinking. Already made 50% gain in property value in 2 years though so could be worse off
post 1649324173 10-20-2021, 06:57 PM
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Originally Posted By Evantus⏩
same thing happened to me with a ****ty inspection. The guy didn't barely do any actual inspection, and just said bullcrap about mites in the roof and he had a mate that could treat them. Well it was just a dodgy cash grab. When I moved in, all the electrics were dodgy and fuked, toilet waste was leaking and neglected, cracked brick from sinking.Already made 50% gain in property value in 2 years though so could be worse off
Gjdm reps off rc

Did you teach yourself any home repair/maintenance in the first few years? I learned quite a bit when I was starting out lol
post 1649324413 10-20-2021, 07:00 PM
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Originally Posted By friesbruh⏩
nah, lots o investors buy a house or put an offer in based just off pics and maybe a video tour from a realtor.

getting to be way more common.
Location: Ohio

I thought in the US bank appraisals and inspections and contingencies were still a thing

Or are these all cash buyers?
post 1649324613 10-20-2021, 07:03 PM
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For all those unaware, in the east coast cities of Australia, the land is worth the money. Not the building/ house on it. The property will value on land size. Most houses will be taken down and apartments will be built on it anyway. That's how crazy the housing market has gotten. Look at the historical data. In 2016, a new 4 bed house cost 260k. Now days that place is worth 1mil. Not even close to the city either. ****s from China money investors and immigrants through the roof.
post 1649325103 10-20-2021, 07:13 PM
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Originally Posted By r32gojirra⏩
Location: Ohio

I thought in the US bank appraisals and inspections and contingencies were still a thing

Or are these all cash buyers?
of course they are, especially w/appraisal and inspection. but i just mean its now a common thing for a buyer in say, cali, to put an offer in sight unseen and just do it based off a video from their realtor, then sometimes before closing come check it out.

they kind of had to start getting that aggressive since properties were going under contract so quick, sometimes immediately after listing or before the night was over. all the good deals did anyways. if its still on the mls after 30+ days, needs a price reduction or some kind of reno.

however, investors usually care even less about "looks" and ofc care almost solely about profit, potential for equity (if they expect area to boom soon), so they will absolutely put offers in and even buy without ever stepping foot there.

if a realtor, inspector and an appraiser all say it's work x price, then there's prolly not much more an investor could add to it.
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post 1649330233 10-20-2021, 08:42 PM
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Originally Posted By Evantus⏩
For all those unaware,in the east coast cities of Australia, the land is worth the money.Not the building/ house on it. The property will value on land size. Most houses will be taken down and apartments will be built on it anyway. That's how crazy the housing market has gotten. Look at the historical data. In 2016, a new 4 bed house cost 260k. Now days that place is worth 1mil. Not even close to the city either. ****s from China money investors and immigrants through the roof.
I mean, yeah.
post 1649444823 10-22-2021, 04:05 PM
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Originally Posted By SoutheastBeast1⏩
Depends

What’s your net worth and how much did the house cost?
The property cost $1,100,000 and then another $50k in taxes and closing costs on top of that

Of course that’s in kangaroo dollars, not real money

So maybe like tree fiddy euros
post 1649483693 10-23-2021, 11:51 AM
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Originally Posted By r32gojirra⏩
Too many other inspections/auctions scheduled



I can almost guarantee there are structural issues

We’re not moving in though. Going to rent it out just long enough to get the permits for subdivision and then it’s got a date with a bulldozer



Market is moving pretty fast. My personal prediction is some fairly significant house price inflation/stagflation

Had cash sitting in the bank losing value so better to dump it into something until I figure my next move
I’m the opposite. Moved country, sold recently and put a lot into ETFs
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