Early Access to Renovate and Doublesettle ?

[Bluekiwi]

Are all the double-settlements out there mainly properties bought well, possibly on long tern settlement and then sold off "without" adding value through renovation.

Or can you throw in some physical added value to the property as well.

Cosmetic renovation is what I am looking at and I was originally thinking of just getting early access to renovate and time the completion of reno with settlement date and hand over to agent then.

But I am now wondering if you are able to extend this concept to renovate, and sell before you settle.

Avoiding finance costs.

[Heg]

Double settlement means just that. Your 'buyer' settles, with you then you settle with the vendor all on the same day. You don't actually borrow the money as your buyer is paying you and then you use (some of) that money to pay your vendor. Only costs involved are lawyers fees.

To 'sell' without settling your only option is to assign the contract to your buyer for a fee. However in this scenario, if the buyer fails to settle then the buck stops at you. The only truly safe way is to novate the agreement but you need the permission of your original vendor to do this.

[Bluekiwi]

Cosmetic Reno and

Cosmetic Renovation and Doublesettlement ??

I know Dean Letfus strategy and possibly others is to do a straight onsell using valuations / subdivision reports / building inspections etc.

But is it possible to fit some quick cosmetic renovation into the equation as well.

Running the risk that you cant find a buyer to doublesettle, and have to go through with the purchase yourself and then sell as a normal reno to sell.

[wildthing]

getting early access to renovate and time the completion of reno with settlement date

The vendor's lawyer will most likely act as a roadblock to this. I made the mistake of not sufficiently schmoozing a vendor before he ran it past the lawyer. End result - no deal.

[Dean@Massiveaction]

Where the property is vacant absolutely no problem Blue. You must ensure you have the property insured for your tradesmen to be on site that's all.

[Bluekiwi]

Where the property is vacant absolutely no problem Blue. You must ensure you have the property insured for your tradesmen to be on site that's all.

Nice, thanks everyone