21 Goodwin Street West Ryde NSW 2114 – Property Report

21 Goodwin Street West Ryde feature image

This is a Preliminary Property Report for 21 Goodwin Street West Ryde NSW 2114

In this Property Report I provide a Preliminary summary of what a Buyer needs to check before buying.

To purchase the COMPLETE PROPERTY REPORT for 21 Goodwin Street West Ryde NSW, please click here.

As always, my aim is to give you Expert Advice, So You Buy the Right Property. 

 


Property Listing Details for 21 Goodwin Street West Ryde

Click here for the Realestate.com.au property listing.

20 March 2019 – Property is listed as “Expressions of Interest”

An “Expressions of Interest” in Real Estate is one method used by Real Estate Agents to sell a home.

Interested buyers are asked to submit their purchase price and terms of the contract by a certain date. After the offer period has ended, and there is more than one buyer, the Real Estate Agent will ask for best and final offers.

It’s not my favourite way to buy property because buyers have little control over the process.  Agents may make you think there are other buyers to create a sense of competition when this could be untrue. Buyers tend to pay more under this type of selling than say an open auction process.

Property Sales History

10 November 2001 – Sold for $475,000

30 July 1986 – Sold for $100,000

Take note of the property sales history and in particular how long the current owner has owned the property. If the property is being sold within 3 years then it’s a ‘red flag’ and worth investigating further.

It’s a ‘red flag’ because the cost of purchasing a property is significant. An owner would not sell unless they had good reason to.

Is the Property Owner Occupied or Rented?

The property is a Owner Occupied.

An Owner Occupied property is likely to be in better condition than one lived in by tenants. Owner’s tend to look after their place better especially if they want to maximise the sale price.

Tenants are less likely to care how much the owner sells the property for. The biggest concern for a tenant is whether the new owner will move into property.

Check the Owner Occupied Ratio

A review of the suburb at West Ryde NSW 2114, shows a Owner Occupied Ratio of 57% and Renters 43%.

The Owner Occupier to rental property ratio indicates the % of owners to renters living in a suburb, a street or an area. It’s important to know who is living around you as this improves your awareness and safety of the area

 

Check Days on Market

Listing Date: 20 March 2019

Days on Market: 21 Goodwin Street West Ryde is being sold as “Expressions of Interest”. If the Agent doesn’t receive a positive response from buyers using the “Expression of Interest” selling method, they make change the marketing. As a second step, Agents may give a price guide to attract for buying interest. Keep an eye out of this.

Average Days on Market: There isn’t sufficient sales for 4 bedroom houses in West Ryde to calculate the Days on Market.

As a guide, use 3 bedroom houses in West Ryde which take 54 days to sell.

The Days on market indicates the number of days the property has been listed for sale with the particular Real Estate Agent.

When a property takes longer to sell than average then you must do some further investigation as to why?

The longer a property stays on the market, the more suspicious buyers become. Buyers will often suspect there are building or other related issues.

If the property stays on the market too long (versus say the suburb average), then the property becomes “stale”.

Detailed Research

To purchase the COMPLETE PROPERTY REPORT for 21 Goodwin Street West Ryde NSW, please click here.

The Complete Property Report will cover the following aspects of the property.

  • Owner occupied ratio for the surrounding streets and neighbouring properties
  • Check the number of days the property has been listed versus suburb average
  • Look through Old Property Listings to check for renovation works and additions
  • What changes have been made to the floorplan?
  • Sales history of surrounding properties
  • Check for a high ratio of rental properties in the area and identify rental properties with a high turnover
  • What are the Council and Planning Regulations for your property?
  • Is your property in a designated flood or fire impact zone?
  • Check recent Development Applications for building works that may affect your property
  • Provide aerial photos of the roof and the property boundary
  • Identify the location of green electrical boxes and telecommunications towers
  • Aerial photos of any large trees
  • Check shape of the land (for a house)
  • Check for green electrical boxes and telecommunications towers

To purchase the COMPLETE PROPERTY REPORT for 21 Goodwin Street West Ryde NSW, please click here.

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