Wollstonecraft Apartment Purchased under Market Value

10 Jan

Written By Billy Gleeson – Founding Buyer’s Agent

▉ REGION: LOWER NORTH SHORE
▉ CLIENT: YOUNG COUPLE
▉ BUDGET: $1.23M

Webb & Co. achieved a successful outcome for first home buyers, securing a characterful apartment below market value amidst a distressed sale scenario.

Background:

After 12 months of searching and missing out at three auctions, a young couple renting in the Lower North Shore sought Webb & Co.'s expertise to find their first home. Their criteria were specific: a character-filled apartment within a 15-minute walk to train or ferry services in the Lower North Shore.

Challenges:

Competitive Market: The couple faced high competition in Sydney's sought-after Lower North Shore.
Precise Needs: Their search for a property with unique character and convenient location narrowed the field of suitable options.
Auction Disappointments: Previous unsuccessful auction experiences had heightened the pressure to secure a suitable property quickly.

Strategy:

Webb & Co. crafted a focused and proactive strategy to meet the couple’s needs:

Tailored Search: Prioritised properties that matched the couple’s specific criteria for character and location.
Market Insight: Capitalised on the knowledge of distressed sales to identify properties priced below market value.
Efficient Negotiation: Quickly negotiated the purchase of an apartment, avoiding auction competition and securing the property for $70,000 less than the expected market value.

Outcome:

Within four weeks, Webb & Co. successfully purchased an apartment for the couple for $1.23 million, within budget and under market value. This acquisition not only met but surpassed their expectations, providing them with a character-rich home in their desired location. This case underscores Webb & Co.’s ability to navigate challenging market conditions and secure ideal properties for first home buyers efficiently.

Lower North Shore

Billy Gleeson – Founding Buyer’s Agent

Billy Gleeson has been a resident of the Lower North Shore for more than 20 years, living and breathing real estate in the area since his early childhood.

Having lived in both the United States and London, Billy has extensive experience consulting for some of the world’s largest brands, in the marketing, media and not-for-profit industries, and now brings his passion for success to Annabelle Webb’s team.