Bellevue Hill, NSW 2023
Type of Property: 3 bedroom apartment
Reason for Purchase: Primary Residence and Future Investment
Location: Bellevue Hill, NSW 2023
Macroeconomic Concerns:
Our client came to us after a long and unfortunate experience with another buyer’s agency and was looking for their first home in Australia. We had strict geographical and financial parameters to operate within, whilst ensuring we secured a property that would settle before Christmas.
Stock Specific Mandate:
A strict budget needed to be adhered in securing a 2-3 bedrooms, 2 bathroom and parking format.
On Site Interactions:
A review of recent sales, in particular the next-door identical apartment of the same building which had sold recently for $1.55m gave strong market benchmarks for the client. At initial inspection to the Birriga Rd, Bellevue Hill property, there were some superficial defaults to the building structure and finishes. The vendor was also maintaining a strong position rejecting valuations at recent comparable sales with hopes of higher.
Negotiation:
Although the property was initially rejected in review of the client’s short-list, follow-up with the vendor was maintained as part of the service with a vendor now surprisingly willing to accommodate offers. In response to the client, the selling vendor was willing to pay construction costs to requested renovation / repair schedule and also revise the asking offer expectations.
In close consultation with the client, the initial reservations and concerns were now overcome with the vendor’s new offer and thus quickly secured in the heat of other competitive bidders still present.
With this concern now redundant, and many of the other buyers having bought, including another buyer’s agent who offered close to the asking price, we were able to swoop in and secure for $200k under expectation and previous offers. Nothing short of an outstanding result and our client is clearly overjoyed!
Execution Rationale:
This was an outstanding opportunity in the revised market campaign of the vendor. The client was ecstatic by value and comprehensive follow through in review of identified properties.
Client Testimonial:
“Daniel was the consummate professional and made my entire experience as a first time property buyer in Australia seamless. By leveraging existing relationships, I was presented with multiple options in a timely manner and there was never any variance from the previously agreed upon brief of what I was specifically looking for. Having Daniel and Cohen Handler as a trusted advisor gave me peace of mind and in a very short period of time, helped me achieve my desired outcome, and categorically saving me in excess of $200,000. A pretty much flawless service from Daniel.”