Post to Facebook on 30/10/2018 at 3:21 AM
Commenting on “How your Uber Eats history could affect your chances of your future home loan”
https://www.domain.com.au/news/the-block-2018-the-gatwick-sisters-buy-luxury-apartment-in-their-old-hotel-778065/
Beauty is in the eyes of the beholder. For me, I shall give the apartments a miss even if I have the money to outbid the other participants.
The run down property was sold to Channel 9 in 2017 for $10 million after the previous owners had run the hostel for over 30 years. Good luck to new apartment owners, each spent between $2.77 million and $3.02 million during the indoor auctions. The total amount went under the hammer is $14.49 million.
The contestants make some handsome profit, an early present for the coming Christmas. The highest prize money goes to Sarah and Hayden, a cool $645,000.
The different sale agents also benefit from the auction and gain free publicity. Another beneficiary is the buyer advocate who buys 4 out of the 5 apartments on behalf of his clients, and more than likely, he earns as much as the sales agencies combined.
The biggest winner of all is the Victorian government. The total stamp duty fee payable on the property purchases is $815,549.50. This includes transfer fees of $3,605.00x5=$18,025 and mortgage registration fees $114.90x5=$574.50.
I like to live in a property with a happy past, which the ex-Gatwick lacks. According some sources, the property was a privately run hostel for people who could not get a place anywhere else, if they were too violent or dysfunctional.
Will the sale prices be that "astronomically" high if the buyers are to bid personally at the auctions, instead of engaging a buyer's advocate? I believe the price will be much lower. Normal bidding buyers are tensed, and emotionally charged, and tend to hold back with their bids or push up the bid by smaller increment. A professional advocate has no emotional attachment; the higher they bid up the price, the more commission they earn.
In my early years in Melbourne, I used to stay in Elwood and worked part time at the St Kilda Junction. Since I am not a beachy person, living close to the beach is not my preference.
Up till the early 90's, I enjoyed the cakes sold in Acland Street. My wife and I drove all the way from Mulgrave to Acland Street just to buy a piece of Rum Cake, Vanilla Slice and Almond Croissant. The quality deteriorated when the original owners sold out their business, retired or passed away.
Thank you for reading.
Commenting on “How your Uber Eats history could affect your chances of your future home loan”
https://www.domain.com.au/news/the-block-2018-the-gatwick-sisters-buy-luxury-apartment-in-their-old-hotel-778065/
Beauty is in the eyes of the beholder. For me, I shall give the apartments a miss even if I have the money to outbid the other participants.
The run down property was sold to Channel 9 in 2017 for $10 million after the previous owners had run the hostel for over 30 years. Good luck to new apartment owners, each spent between $2.77 million and $3.02 million during the indoor auctions. The total amount went under the hammer is $14.49 million.
The contestants make some handsome profit, an early present for the coming Christmas. The highest prize money goes to Sarah and Hayden, a cool $645,000.
The different sale agents also benefit from the auction and gain free publicity. Another beneficiary is the buyer advocate who buys 4 out of the 5 apartments on behalf of his clients, and more than likely, he earns as much as the sales agencies combined.
The biggest winner of all is the Victorian government. The total stamp duty fee payable on the property purchases is $815,549.50. This includes transfer fees of $3,605.00x5=$18,025 and mortgage registration fees $114.90x5=$574.50.
I like to live in a property with a happy past, which the ex-Gatwick lacks. According some sources, the property was a privately run hostel for people who could not get a place anywhere else, if they were too violent or dysfunctional.
Will the sale prices be that "astronomically" high if the buyers are to bid personally at the auctions, instead of engaging a buyer's advocate? I believe the price will be much lower. Normal bidding buyers are tensed, and emotionally charged, and tend to hold back with their bids or push up the bid by smaller increment. A professional advocate has no emotional attachment; the higher they bid up the price, the more commission they earn.
In my early years in Melbourne, I used to stay in Elwood and worked part time at the St Kilda Junction. Since I am not a beachy person, living close to the beach is not my preference.
Up till the early 90's, I enjoyed the cakes sold in Acland Street. My wife and I drove all the way from Mulgrave to Acland Street just to buy a piece of Rum Cake, Vanilla Slice and Almond Croissant. The quality deteriorated when the original owners sold out their business, retired or passed away.
Thank you for reading.
