Property 4 Sale websites

[cat]

There are any number of websites listing private sales in New Zealand. DMOZ lists a few... and then places like Trade Me have a whole section of their site dedicated to property.

I was interested to see that the Richmastery Property Finders have abandoned the closed shop approach on the esc website in favour of the more open Trade Me approach.

Examples...
WGTN central aptment, 17yr lease, 4yr gtee income
Paraparumu Beach - new townhouse 200 m from beach

Cat

[LondonKiwi]

Looks like the will use any avenue to generate a sale. I have always been very sceptical of ESC's figures seeing as they use a 52 week occupancy formula and have no allowance for rates, insurance, body corps, maintenance, vacancy etc.

Good luck to them I am sure they have made some good money on their travels.


LK

[tim360]

Looking at that Wellington Apt example, I would be wary of anything that offers guaranteed returns. It creates an artificial market, what happens when the guaranteed return period ends? everyone usually wants to sell up because suddenly they're losing money.

[fudosan]

If the rent prospect is so good that someone is willing to guarantee it for a couple of years, then why do you want to have the guarantee so that it can only stop you from raising rent during the guaranteed period?

[ESC]

To clarify the comments made by Londonkiwi, ESC always include the rates, body corporate fees, an allowance for insurance, repairs and maintenance and a vacancy factor in the analysis and presentation of the Property Deals we secure and advertise.

Since we use third party information from independent experts such as valuers and rental managers we try to ensure that the analysis conducted on the property is as accurate as possible to give our customers sound information on which to base their investing decisions.

[LondonKiwi]

My apologies I have checked a few of the other properties on the ESC site and there are rates, insurance etc listed there. I have concentrated on the Wellington market however and I notice that the apartments marketed there don't have all the information present.

Cheers

LK

[drelly]

ESC... How are your expert valuers "independent" if you're paying them to value your properties?

[cube]

ESC... How are your expert valuers "independent" if you're paying them to value your properties?

Do your valuers work for free, Drelly?

[drelly]

No, but it makes no difference with me because I'm not selling to the public and claiming that my valuations are independent.

Hey Cube... tell everyone how valuable this house is and by the way here's $500. And there's more where that came from...

Perhaps I'm just getting cynical in my old age?

[Ianacek]

I think Drelly was addressing the issue of valuer independence. The valuer ought to be apointed by & paid by the buyer .

[ESC]

Valuations

As valuations aren't free ESC pays for a local valuer to provide a valuation on the property. This valuation is made available to all clients who show interest in the property.

In addition to this we recommend to all buyers that they complete their own due diligence (which would include their own valuation or validation of the valuation we have obtained is correct) prior to the completion of any purchase.

We further back this up by providing all clients with a 72 hour period after the completion of documents and the payment of our fee where they can cancel the purchase for any reason and have their fee refunded in full.

To view our property deals, most of which are sourced at a discount for investors go to the link below:

http://www.richmastery.com/nz/property/property_home.aspx?Message=Logout

Our service has been operating for 4 years with many many happy customers.