Post to Facebook on 11/8/2018 at 1:25 AM
Commenting on “Puzzle over $3m in home buyers' deposits”
https://www.theage.com.au/politics/victoria/where-is-all-the-money-puzzle-over-3m-in-home-buyers-deposits-20180810-p4zwp4.html
Times has really changed, and it seems there are more cons, sharks and crooks around now to scam and steal your hard earned money.
I am a very cautious investor. I do not like buying something off-the-plan, because a drawing on a piece of paper, a model, or a display show room may not become a real building.
How can one guarantee the workmanship is as good as displayed, or the actual size of the finished building really adhered to the original specification? What-you-see-is-what-you-get may be true about the drawing or copies of it, but not the finished construction.
I have been advising readers to invest in land if they lack sufficient fund to buy a house, but buying a diagram of subdivided land has just as much risk as buying an off-the-plan apartment or house.
Do I trust renovators, builders and developers new to the industry? Well, I am a chicken for sure, and unless they can show me what they have done or constructed, and I can talk to the owners independently, I do not bet on them.
There is a phrase in the real estate game, "buyers beware". In fact this should apply to buying anything big or small, not necessary for real estate alone. It will be very difficult to claim for damages or loss after the full amount of money is handed over to the unscrupulous crooks.
Another word of warning. Real estate investment involves hundreds of thousand of dollars, so do not save on a couple of hundred of dollars on conveyancers who are new to the industry. It is not that I do not want to give them a chance, especially the young ones; just that life experience in the conveyancing profession counts more than distinctions in academic qualification.
My hair is half white and half black. I definitely won't say that as grey. My black-and-white hair is a sign of life experience, sort of like an honours degree in addition to my paper qualification.
Some readers ask me where they should invest in. I can honestly reply here is that I am a blogger not an investment adviser. I share my knowledge, but I don't sell it at a cost.
Obviously, in order to get the maximum benefit from my advice, you have to read all my blogs here in Facebook, and my other blogs published previously in Google blogspot.com
Thank you for reading.
Commenting on “Puzzle over $3m in home buyers' deposits”
https://www.theage.com.au/politics/victoria/where-is-all-the-money-puzzle-over-3m-in-home-buyers-deposits-20180810-p4zwp4.html
Times has really changed, and it seems there are more cons, sharks and crooks around now to scam and steal your hard earned money.
I am a very cautious investor. I do not like buying something off-the-plan, because a drawing on a piece of paper, a model, or a display show room may not become a real building.
How can one guarantee the workmanship is as good as displayed, or the actual size of the finished building really adhered to the original specification? What-you-see-is-what-you-get may be true about the drawing or copies of it, but not the finished construction.
I have been advising readers to invest in land if they lack sufficient fund to buy a house, but buying a diagram of subdivided land has just as much risk as buying an off-the-plan apartment or house.
Do I trust renovators, builders and developers new to the industry? Well, I am a chicken for sure, and unless they can show me what they have done or constructed, and I can talk to the owners independently, I do not bet on them.
There is a phrase in the real estate game, "buyers beware". In fact this should apply to buying anything big or small, not necessary for real estate alone. It will be very difficult to claim for damages or loss after the full amount of money is handed over to the unscrupulous crooks.
Another word of warning. Real estate investment involves hundreds of thousand of dollars, so do not save on a couple of hundred of dollars on conveyancers who are new to the industry. It is not that I do not want to give them a chance, especially the young ones; just that life experience in the conveyancing profession counts more than distinctions in academic qualification.
My hair is half white and half black. I definitely won't say that as grey. My black-and-white hair is a sign of life experience, sort of like an honours degree in addition to my paper qualification.
Some readers ask me where they should invest in. I can honestly reply here is that I am a blogger not an investment adviser. I share my knowledge, but I don't sell it at a cost.
Obviously, in order to get the maximum benefit from my advice, you have to read all my blogs here in Facebook, and my other blogs published previously in Google blogspot.com
Thank you for reading.
