Buying from Interstate or Overseas

Client Story – Overseas Client

Armadale

The Brief

An overseas client wanting a home to be ready and waiting on their return to Melbourne.  Their parents were currently searching for suitable properties and doing their best to take a methodical approach regarding price and auction tactics.  After unsuccessful bidding at two auctions the client was referred to Synergy by their finance broker.

The Strategy

The client was contacted via email and phone conferencing to enable a thorough search brief to be detailed.  A reconnaissance inspection was conducted with the client’s mother which was an important step to connect the client’s brief with the mother and gave the opportunity for comments regarding the client’s personal taste.

The Execution

After two months of searching an appropriate property was located.  The client’s mother was taken to an inspection; she believed it suitable so arrangements were made to fly the client’s wife to Melbourne to view the property prior to auction.

The property was deemed suitable so thorough due diligence was conducted by Synergy.  The information was conveyed to the client via conference call with his wife in Melbourne.  From this meeting a price limit was set and auction strategy discussed.  The property sold at auction in excess of the limit set.

Synergy re-commenced the search and after two weeks were able to source another family home in a similar location.  This property had not yet been advertised and was part of the hidden market Synergy often accesses through relationships with agents.  Again access was arranged for the client, together with a building inspection and the necessary due diligence conducted.

The Result

A successful transaction was negotiated in excess of $2 million including a lease back arrangement to the vendors until the purchaser is ready to relocate back to Melbourne.  The rental of the property is of course managed by Synergy.

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