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Joshua & Gillian’s Journey

Joshua and Gillian* were avid listeners (and still are) of The Property Couch Podcast and decided to make enquiries in regards to lending and Buyer Agent Services.  Gillian had purchased an investment property before,  and wanted her partner to start his own property portfolio without falling into the pitfalls of bad asset selection.

The Search Process
As with all our clients, we always made sure all the ducks are lined up prior to search because we want to be in a position where our Buyers Agent is able to pounce when the right one comes along. So in Joshua and Gillian’s assignment, our Mortgage Broker, Dean Wills sorted out their financing and got a pre-approval done. Once budget had been established, it was over to our Buyer Agent, Christa who worked through growth and yield to ascertain location that would meet the needs discussed around their goals.  Joshua, as a first time investor was guided through the process from start to finish.

The Selection
Upon finding a potential asset, Christa quickly completed the due diligence around the property and flew to Queenland to inspect the property. In a block with only 6 other units, it’s own lock up garage, 2 balconies and a separate toilet, we knew that this 2 bedroom unit would have no issues finding a good tenant. Once we are satisfied that it’s an investment grade asset and everything was in order, negotiations begun.  These negotiations also included external negotiations with the Body Corporate due to a structural problem found to the detached garage which should be repaired using the current Body Corporate’s funds.

The Negotiation
The purchase was finalised well under asking price and the negotiation with the Body Corporate was also a success.  The agent came in handy and was prepared to re-hinge a bedroom door during our negotiations as well.

The Pre and Post Settlement Service
A thorough search was done by a third party of the Body Corporate records. Once the property had settled, we were made aware of a small item around fire safety that was not brought to the attention of Empower Wealth, solicitors or the purchaser prior to settlement or during the contractual process.  For several weeks after settlement, we proceeded to negotiate this defect to be fixed at the expense of the body corporate. We felt it unreasonable for the Body Corporate to expect the new owner to pay for this minor defect, when it was an error of the Body Corporate not to declare this prior to settlement which would have allowed us to negotiate the cost of the repair with the old owner prior to settlement.  It was eventually agreed from persistence by Christa, that the Body Corporate would pay for the repair of this item.

What do they think about our services?
Outstanding service is difficult to come by, and when you’re dealing with large and complex purchases, piece of mind is paramount. Empower Wealth’s access to proprietary data is what compelled me to trial their services in the first place, but it was their focus on customer service that will see me return.

A huge thank you to Dean and especially Christa for all their efforts in making my first purchase a stress-free and wise investment.

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