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/biz/ - Business & Finance

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15282985 No.15282985 [Reply] [Original]

>buying property
>need to buy a property report ($500)
>need to hire a conveyancer ($500)
>$1000 just to have the chance of bid on a property
What the FUCK, property is a SCAM

>> No.15283006
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15283006

>>15282985
Hmmm, I've purchased 5 properties and am working on my sixth and never heard of those things. I think the seller would be very unhappy if prospective buyers had to pay $1000 before they could even make an offer. Are you sure this is right?

>> No.15283019

>>15283006
Are you telling me you've never hired a conveyancer or had a property inspection for any property you've purchased? Which means you've had no real idea on the state of the property or contract beyond surface level.

You might've gotten away with it, but that's a risky move

>> No.15283039
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15283039

>>15283019
You said you needed that shit to bid. The professional inspection is after your offer is accepted. Why would you hire a conveyancer (sounds like transfer of title) before you even make an offer?

>> No.15283042

>>15282985
Boomers created laws to even take a shit , it's over milenials you won't ever own your land.

>> No.15283058

>>15283019
>complains about all the things he does
>complains when other people say to just not do them
I understand your point of inspecting an asset before buying it, are you seriously just complaining that these things cost money?

>> No.15283060

>>15283039
I don't know what the laws are in your area, but here you have to buy the property if you win it at auction. That means if there's something to fuck you over in the contract or if there are termites you need to roll with it. This would be a little different for non-auctioned houses.

Sure you don't "need" it to bid at an auction, just like you dont "need" to wear more than a t-shirt on a motorbike, but you're leaving yourself open to risk.

>> No.15283065

Gotta spend money to make money anon.

>> No.15283066

>>15283019
>>15283058
And as an addendum I think the legal requirement to do any of this is dumb. But as >>15283042 said boomer world we're living in a bit longer

>> No.15283075

>>15283058
I'm sure you'd feel annoyed if you were outbid at 4, even 6 auctions after paying $1K each for the necessary information. Small change if you successfully purchase, but an annoyance if you don't.

>> No.15283099

>>15283075
Sorry I took "bid" as more colloquial in your OP. Didnt think you were only buying at auction. Theres gotta be plenty of land owners who want to sell stuff low cost for all parties. Like you said earlier inspection might cost you, but private sales should be easy otherwise.
Good luck

>> No.15283107

>>15282985
I paid $250 for my home inspection...never heard of the other stuff.

>> No.15283161
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15283161

>>15283060
Well, holy shit anon, you are buying a property at an auction? Not exactly standard, at least where I live. Are you trying to get a good deal on some foreclosed dump or something? It does make sense now though. If you wanna be a big dick and bid on auction properties, you gotta have a big checkbook too. If you haven't participated in auctions before, I would avoid it.